Closed loop partners, a US investment firm focusing on circular economy projects, said recently that nine consumer brands supporting its closed loop Infrastructure Fund (Clif) would expand their funding.

The nine consumer brands, including 3M, Coca Cola, CP, Johnson & Johnson, Keurig Dr Pepper, Pepsi Cola, P & G, Unilever and Wal Mart, have pledged to fund another $54 million (about RMB 380 million) for recycling infrastructure and innovative end market projects in the United States.

The closed loop infrastructure foundation (Clif) is a fund project under the closed loop fund. The closed loop fund was established in 2014 and is a part of the closed loop partners. The foundation mainly focuses on investment recovery projects.

Closed loop partners established the closed loop Fund Foundation in 2014, mainly engaged in investment in recovery projects.

More than 200 million US dollars have been invested to support recycling infrastructure and innovation market

According to reports, before that, these brands have invested more than 200 million US dollars in their initial cooperative investment projects to support the development of recycling infrastructure and explore new markets in the United States.

These investments include:

Eureka recycling project in Minnesota: as a local non-profit social organization, Eureka recycles nearly 100000 tons of residential waste every year.

Emerald Coast utility Agency (ecua) in Florida: the plant creates economic benefits by disposing of large amounts of waste through recycling activities and selling recycled products. During the 21 months since January 2017, the project has created economic benefits of $4.2 million. To date, the plant's profit margin has been between 10% and 30%, so ecua can invest in other key infrastructure and projects.

Temperpack packaging company in Virginia: the company produces plant based and fiber based barrier packaging solutions for cold chain transportation, perishable food and pharmaceuticals. The product replaces expanded polystyrene, which is easy to pollute recycling facilities. Temperpack's solution facilitates recycling and helps keep materials circulating.

5-7.5 million metric tons of recycled materials to be supplied by 2030

According to closed loop partners, an increase of 5-7.5 million metric tons of recycled material supply is required by 2030, equivalent to an increase of 200-300% in supply, according to closed loop partners. It is expected to meet this demand through collective investment and cooperation among brands to further promote technological development.

Brand executives participating in the closed loop infrastructure fund investment project have said that improving local recycling capacity and technology will help brands achieve their own circular economy goals.

Gayle Schueller, vice president and chief sustainability officer of 3M, said, "to achieve our circular economy goals and promote global circular economy development, we need to ensure that recycled materials are widely available."

"To deal with waste plastics, the plastic value chain needs to be reshaped to ensure closed-loop circulation, and technological innovation and infrastructure investment are also critical," said Chelsea scatlan, a senior project officer at Wal Mart foundation

"No company can deal with the waste plastics problem alone. We need to gather the strength of the industry to accelerate the shaping of the circular economy supply chain and maintain the closed-loop circulation of plastics." Closed loop partners said.