The PepsiCo Foundation has collaborated with The Recycling Partnership to launch the largest ever industry-wide residential recycling challenge, "All In On Recycling.”
The PepsiCo Foundation is providing $10 million (approximately £7.6 million) in funding to jumpstart the challenge, which aims to provide recycling resources to 25 million families across the US.
The goal of the challenge is to raise $25 million (approximately £19 million) in total donations from leading businesses, companies and organisations.
More than 2,800 communities are participating in the initiative and it is expected to triple the collective investment, roughly $75 million (approximately £57.4 million) in municipal funding, bringing the total amount of support to $100 million (approximately £76.5).
The Recycling Partnership expects the "All In On Recycling" challenge to help the US capture 1.9 million tons of quality recyclable materials over the next five years, including 7 billion bottles and cans.
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Half of the total funds raised by this challenge are expected to help provide curbside carts to more than 550,000 households, a proven way to double the number of recyclables recovered, as well as missing infrastructure needed to recover recyclables from multi-family homes.
The funds raised from the initiative will also be used to provide recycling solutions across the country to cities such as Miami, Florida, and the Central Ohio region.
"I've always believed corporations do not operate in a vacuum – we have responsibilities to the communities we serve," said Indra Nooyi, Chairman and CEO of PepsiCo.
"Our collaboration with The Recycling Partnership represents a major step toward fulfilling those responsibilities by helping reverse the decline in recycling rates for aluminum and many common plastics. I hope other corporations across our industry and beyond will join us and commit to being All In On Recycling."
