Closed Loop Fund (CLF) has released the results of its latest impact report, which highlights recent successes such as the diversion of 100,000 tons of materials from landfill, a 230,000 metric ton reduction of greenhouse gas emissions and the creation of more than $530,000 in economic benefits to municipalities.
“Our portfolio is rapidly delivering greater and greater impact, as more projects come online. In just the last quarter of 2016, tons diverted from landfill, greenhouse gas tons avoided and economic benefit to cities doubled what we saw cumulatively in the year prior,” said Margot Kane, CFO and Chief Investment Officer of Closed Loop Fund.
“We are showing that municipalities and recycling companies have significant demand for impact investment dollars and we are unlocking powerful co-investment. To date, the investments are generating revenues and paying back on time.”
According to the report, Closed Loop Fund committed nearly $25 million in 11 projects, an amount that was matched three-fold by co-investors such as 3M, Coca-Cola, Colgate-Palmolive, Johnson & Johnson, Nestlé Waters North America, PepsiCo, Procter & Gamble, Unilever and the Walmart Foundation. Eight of these projects have already diverted 98,500 tons of material from landfill, reducing the equivalent of 232,000 metric tons of GHG emissions.
The expansion of collecting, sorting and processing infrastructure through CLF-funded projects across the country has made it easier for communities to recycle and has led to an increase in recycling participation, with 1.2 million households — the equivalent to a metro area the size of San Diego, Calif. — now actively recycling.
In addition to removing barriers to recycling and helping cities divert recyclable materials from landfill, the projects have had a positive impact on local economies. Municipalities have accrued $533,000 in economic benefits as a result of CFL investment.
The impact report also details the closing of two additional loans:
- Aero Aggregates: a lightweight aggregate manufacturing company creating a high-end market for recycled glass in road construction and other geotechnical applications
- Escambia County Utilities Authority (ECUA): a new high-tech materials recovery facility (MRF) in Pensacola, FL serving a region that was previously a recycling desert.