Dr Pepper Snapple invests $5 million in Closed Loop Fund

Dr Pepper Snapple invests $5 million in Closed Loop Fund

Beverage company works with partners to achieve 60 percent U.S. beverage container recycling rate by 2030.

March 4, 2016
Recycling Today Staff

Dr Pepper Snapple Group (DPS), Plano, Texas, has announced it will work with industry, government and community partners to achieve a U.S. beverage container recycling rate of 60 percent by 2030. As part of this commitment, the company is entering into a new partnership and continuing another to improve access to recycling across the country.

DPS is investing $5 million in the Closed Loop Fund over the next 10 years, joining a growing number of businesses supporting efforts to improve postconsumer recycling by providing critical funding for recycling infrastructure. In addition, the company is extending its relationship with Keep America Beautiful through a new three-year, $1 million commitment primarily to continue efforts to place recycling bins in public parks.

"Making a meaningful and sustainable reduction in the amount of plastic and other recyclable material in the waste stream requires convenient options for consumers to recycle as well as the capacity to process those materials at the community level," says Kelly Smith, director of government affairs and sustainability for Dr Pepper Snapple. "Our investment in the Closed Loop Fund and our continuing partnership with Keep America Beautiful give us a way to address both of those needs and put us on the path toward achieving a substantial increase in the container recycling rate over the long term."

DPS joins 10 other companies in the Closed Loop Fund, which was established in 2014 as a social impact investment fund. Over the next 10 years, the fund will invest $100 million via zero-interest loans to cities and below-market loans to companies for recycling infrastructure to prove the market for single-stream expansion and modernization by maximizing recycling profitability.

"Closed Loop Fund members are collectively acting to make significant investments that will improve recycling, save taxpayer money, create jobs and support the environment at scale across the United States," says Rob Kaplan, managing director of the Closed Loop Fund.  "DPS is joining an elite group of corporate recycling leaders, and we are thrilled they are the first new investor in 2016. Their commitment and expertise will add great value to our team and communities around the country."

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 away from home while helping beautify 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.

"We're excited once again to partner with Dr Pepper Snapple to award recycling bins to support on-the-go recycling in communities across the country," says Brenda Pulley, senior vice president, recycling, Keep America Beautiful. "One of the biggest obstacles to recycling is the lack of convenience, and these bins help solve that problem in the parks and public spaces enjoyed each year by millions."

DPS's participation in the Closed Loop Fund and its work with Keep America Beautiful expand on its efforts to reduce the amount of packaging material that winds up in landfills. 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 through continuous improvement