Press release
Mondelēz International Invests in Circulate Capital’s Ocean Fund to Advance Global Efforts in Plastic Waste Collection and Recycling
Marks significant step toward helping achieve a circular economy by funding systems to collect, sort and recycle plastics at scale, including flexible films
About this update from Mondelez International, Inc.
[{"type":"text","content":"Marks significant step toward helping achieve a circular economy by funding systems to collect, sort and recycle plastics at scale, including flexible films\nCHICAGO, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) today advanced its 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. CCOF is an investment fund dedicated to addressing India and Southeast Asia’s plastics challenges, and its investors include some of the world's leading consumer packaged goods companies. The fund provides financing to waste management, recycling and circular economy start-ups and small- and medium-sized enterprises across India, Indonesia, Thailand, Vietnam and the Philippines. CCOF helps identify collection and recycling solutions, catalyzes capital to both scale and replicate those solutions and connects these enterprises to the world’s leading companies. Mondelēz International’s investment in CCOF is expected to finance enterprises that support the company’s goal to collect more plastic waste than the company currently produces across India and Southeast Asia and will further CCOF’s investments into flexible plastic waste collection, recycling and infrastructure enterprises. “This investment marks a pivotal step forward in our contribution to a circular economy for plastics and is a clear demonstration of our long-term goal of net zero waste,” said Dirk Van de Put, Chairman and Chief Executive Officer, Mondelēz International, Inc. “As part of our ambition to become a more sustainable snacking company, this partnership will help fund businesses that are trying to fill systemic gaps in the collection, sorting and reuse of plastic waste, including flexible film.” “We are excited to partner with Mondelēz International, a w...