Investment in Circulate Capital’s Ocean Fund a significant step toward helping achieve a circular economy
Thursday, November 11, 2021
We are proud to advance our commitment to helping create a circular economy for plastic by joining Circulate Capital Ocean Fund (CCOF) as a limited partner and making an investment in CCOF supporting scalable business solutions to help develop infrastructure for the collecting, sorting and recycling of plastic waste, including flexible films.
The goal of this investment, which is part of Mondelēz International's Sustainable Futures impact investing platform, is to enhance focus on the physical collection of flexible films – lightweight, multi-layer plastics used by the snacking industry – that have traditionally been more difficult to collect, sort, recycle and ultimately reuse.
To learn more about this investment, our plastics strategy and how we're taking action, click around in the interactive infographic below:
Progress, Programs & Partnerships
We have already made significant progress toward our packaging recyclability targets. We've removed 65,000 tons of packaging from our portfolio since 2013 and remain on track to achieve our 2025 goals to reduce virgin plastic use in rigid plastic packaging by 25% or reduce virgin plastic in overall plastic packaging portfolio by 5%, assuming constant portfolio mix compared to 2020, increase use of recycled content to 5% by weight across plastic packaging and design 100% of our packaging to be recycle ready. To date, ~94% of all of our packaging is designed to be recycle ready.
We already support initiatives promoting a circular economy for plastics with programs underway across multiple markets including India, Philippines, Indonesia, United Kingdom and Australia, demonstrating a strategic focus on less, better and improved plastic packaging and systems.
We're also an active participant in the Consumer Goods Forum Plastic Coalition of Action, the Business Call for a Global UN Treaty on Plastics Pollution, the U.S. Plastics Pact, the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment, the New Plastics Economy Initiative, the European CFLEX Initiative, the UK Plastics Pact and the UK Flexible Plastic Fund (formerly known as EPPIC), the India Plastics Pact and the Australia/New Zealand Plastics Pact, among others.
For more details on this announcement, please see the press release.
For further information on Mondelēz International's sustainability strategy, goals, and progress, please see the Snacking Made Right section of our website.