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Investors Demand Nestle, Pepsi and Others Cut Plastic Use

PepsiCo Inc. Product Deliveries Ahead Of Earnings Figures
Photographer: Caitlin O'Hara/Bloomberg
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A group of 25 investors managing more than $1 trillion in assets are demanding that Nestle SA, PepsiCo Inc., Procter & Gamble Co. and Unilever NV reduce their use of plastic packaging, calling it environmentally damaging.

The initiative was organized by As You Sow, a nonprofit shareholder advocacy group that pushes companies to act responsibly. It was signed by investment managers including Hermes Investment Management, Impax Asset Management, NEI Investments and Walden Asset Management.