Rather than putting sustainability aside in favor of other priorities during the health crisis, Closed Loop is instead seeing retailers and consumer goods companies doubling down on their commitments, a spokesperson told CGT. It’s a sentiment that was echoed by Campbell Soup Company when it announced its new packaging sustainably goals in the spring.
"As COVID-19 has disrupted the status quo, it's further highlighted the need to build our economy back in a way that is sustainable, resilient and safe,” said Bridget Croke, managing director at Closed Loop Partners. “The circular economy increases efficiencies, reduces costs and creates a new kind of capitalism that aligns people, the planet and business.”
The initial investment has leveraged more than $200 million in co-investment, supporting the development of domestic recycling infrastructure, local jobs and new markets in cities across the United States.
This includes investments in TemperPack, which manufactures plant- and fiber-based insulated packaging solutions for cold chain shipments, perishable food and pharmaceuticals, intended to replace Styrofoam.