Major U.S. corporations are taking a stand on environmental protection. Ten of the country's largest companies are coming together on three separate projects that will, hopefully, raise recycling rates throughout the United States, according to the Guardian. Statistics show that currently, only 34 percent of all waste in the U.S. is recycled, and that number needs to change.
The 10 companies involved in these investments include 3M, Coca-Cola, Colgate-Palmolive, Goldman Sachs, Johnson & Johnson, Keurig Green Mountain, PepsiCo, Procter & Gamble, Unilever and Walmart, according to Resource Efficient Business. Together, these companies make up the Closed Loop Fund.
The Closed Loop Fun has gained millions of dollars in investments, and they plan on putting this money into projects that will change the way the U.S. sees recycling over the next five years, according to Environmental Leader.
The first three investments made by the fund amass $24 million, reported the Environmental Leader.
The three projects include two that will bring single-stream recycling to major areas such as Ohio and Iowa, and one that supports a more cohesive plastics recycling plant in Baltimore, according to the Guardian.
By the end of 2025, the Closed Loop Fund hopes to achieve many of its goals, a few of which include reducing greenhouse gas emissions by 50 million, creating more than 20,000 U.S. jobs, and reducing the amount of waste, upwards of 20 million tons, that is sent to landfills, according to Environmental Leader.
