Diageo PLC (LON:DGE) announced it has created “the world’s first ever” 100% plastic free paper-based bottle, made from sustainably sourced wood and expected to be fully recyclable.
It will debut in early 2021 with scotch whisky Johnnie Walker.
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The spirits producer teamed up with ventur manager Pilot Lite to launch sustainable packaging technology company Pulpex Limited.
Pulpex has established a partner consortium of giants such as Unilever PLC (LON:ULVR) and PepsiCo (NASDAQ:PEP), which are also expected to launch their own branded paper bottles next year.
Shares in Diageo rose 1% to 2,788p late on Monday.