Dr. Pepper Snapple Group is investing $5 million in the Closed Loop Fund, a recycling initiative whose founding members include Walmart and Coca-Cola, and $1 million in Keep America Beautiful’s effort to place recycling bins in public parks.
The beverage company says through these investments, it aims to help achieve a US beverage container recycling rate of 60 percent by 2030.
DPS joins 10 other companies in the Closed Loop Fund, which, over the next 10 years, will invest $100 million via zero-interest loans to cities and below-market loans to companies for recycling infrastructure. In September the Closed Loop Fund announced its first three recycling investments, totaling $24 million.
Since its launch in 2013, the Dr Pepper Snapple Group/Keep America Beautiful Park Recycling Bin Grant partnership has supplied more than 2,500 recycling bins to expand access to recycling in a variety of park settings, including neighborhood and larger regional parks, beaches, athletic fields and walking trails. Over the next three years, through the new agreement, DPS and Keep America Beautiful have set a goal to add 4,000 more bins.
Through package lightweighting initiatives implemented since 2007, DPS has removed more than 75 million pounds of plastic from the waste stream. In addition, the company recycles more than 85 percent of the solid waste generated by its manufacturing operations and is working to increase the rate.