PLANO, Texas, Feb. 12, 2016 /PRNewswire/ — Dr Pepper Snapple Group (NYSE: DPS) today 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 post-consumer 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,” said 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,” said 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,” said 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 lbs. 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.
About Dr Pepper Snapple GroupDr Pepper Snapple Group (NYSE: DPS) is a leading producer of flavored beverages in North America and the Caribbean. Our success is fueled by more than 50 brands that are synonymous with refreshment, fun and flavor. We have 6 of the top 10 non-cola soft drinks, and 13 of our 14 leading brands are No. 1 or No. 2 in their flavor categories. In addition to our flagship Dr Pepper and Snapple brands, our portfolio includes 7UP, A&W, Canada Dry, Clamato, Crush, Hawaiian Punch, Mott’s, Mr & Mrs T mixers, Peñafiel, Rose’s, Schweppes, Squirt and Sunkist soda. To learn more about our iconic brands and Plano, Texas-based company, please visitDrPepperSnapple.com. For our latest news and updates, follow us at Facebook.com/DrPepperSnapple orTwitter.com/DrPepperSnapple. For more information on DPS’s philanthropic efforts and sustainability goals, visitwww.dpsgsustainability.com.
About Closed Loop Fund Founded in 2014, Closed Loop Fund is a social impact investment fund that provides cities access to the capital required to build comprehensive recycling programs. Closed Loop Fund aims to invest $100 million by 2020 with the goal to create economic value for cities by increasing recycling rates in communities across America. Closed Loop Fund brings together the world’s largest consumer product, retail, and financial companies committed to finding a national solution to divert waste from landfills into the recycling stream in order to be used in the manufacturing supply chain. In addition to Dr Pepper Snapple, other key supporters include 3M, Coca-Cola, ColgatePalmolive, Goldman Sachs, Johnson & Johnson Family of Consumer Companies, Keurig Green Mountain, PepsiCo and the PepsiCo Foundation, Procter & Gamble, Unilever, Walmart and the Walmart Foundation. For more information, visitwww.closedloopfund.com.
About Keep America BeautifulAt Keep America Beautiful, we want to ensure that beauty is our lasting signature. A leading national nonprofit, Keep America Beautiful inspires and educates people to take action every day to improve and beautify their community environment. We envision a country where every community is a clean, green, and beautiful place to live. Established in 1953, Keep America Beautiful provides the expertise, programs and resources to help people end littering, improve recycling, and beautify America’s communities. The organization is driven by the work and passion of more than 600 community-based Keep America Beautiful affiliates, millions of volunteers, and the support of corporate partners, municipalities, elected officials, and individuals. To learn how you can donate or take action, visit kab.org. Follow us on Twitter and Instagram, like us on Facebook, or view us on YouTube.
Chris Barnes, Dr Pepper Snapple
Bridget Croke, Closed Loop Fund
Mike Rosen, Keep America Beautiful
SOURCE Dr Pepper Snapple Group