The COVID-19 pandemic has left many sectors struggling. Recyclers have demonstrated their resilience now more than ever. In the United States, Fortune 500 companies and leading foundations have extended over US$ 54 million of investments into the Closed Loop Infrastructure Fund (CLIF).
CLIF is run by Closed Loop Partners and helps financing the recycling and circular economy in the US. The fund was instituted in 2014 and has since been supported by major brands in the US. The original nine investors were Coca-Cola, Colgate Palmolive, Johnson & Johnson Consumer Health, Unilever, Procter & Gamble, Keurig Dr Pepper, PepsiCo, The Walmart Foundation and 3M.
A 2020 impact report indicates that CLIF had provided financial backing of US$ 58 million in 27 different projects. It spent another US$ 220 million on other recycling funds and in developing the domestic recycling infrastructure.
Recycling stakeholders across the board have stressed the importance of recycling incentives, both for consumers, entrepreneurs and local governments. Favourable loan terms and improved access to funds by recycling start-ups are frequently proposed to enable ‘large-scale’ progress on the road towards a circular economy.
Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.