Good morning, Broadsheet readers! Tina Sharkey’s generic product company raises a chunk of change, partisans of one-piece bathing suits may be getting an emoji of their own, and PepsiCo’s Indra Nooyi announces a big recycling push. Have an eventful Wednesday.
EVERYONE'S TALKING
• Going 'All In'. PepsiCo CEO Indra Nooyi (No. 2 on our Most Powerful Women list last year) has announced a new recycling initiative in a Fortune op-ed.
It makes sense that recycling would be top of mind for the snack and beverage company. PepsiCo uses a lot of plastic and has been called out by investors for doing so. Nooyi says her company is taking steps to heed that call, noting that PepsiCo has pledged to get to 100% recyclable, compostable, or biodegradable packaging by 2025.
Yet this initiative, called “All In On Recycling,” goes beyond PepsiCo, attempting to target the larger picture: recycling rates for aluminum and many plastics have been falling in the United States. Here's Nooyi:
"As part of the challenge, the PepsiCo Foundation is investing $10 million in what we hope will become a $25 million industry-wide fund. In addition to the contributions from our industry, the more than 2,800 communities that participate in the initiative will triple our collective investment, catalyzing roughly $75 million in municipal funding, and bringing the total amount of support to $100 million.
That support will help 25 million families by providing critical recycling education and single and multi-family home recycling programs. And because every trash can should have a recycling bin by its side, we’ll offer curbside carts—a proven way to double the amount of recyclables recovered. The Recycling Partnership also estimates that by using recycled materials instead of manufacturing new ones, this collaboration will allow us to avoid emitting 5.5 million tons of CO2, the equivalent of removing more than 1 million cars from the road for a year."
For more info on the project and how to get involved, click here.
ALSO IN THE HEADLINES
• That will buy a lot of TP. Brandless, which sells only generic, store-branded staples, has announced a $240 million investment from SoftBank, valuing the company at roughly $500 million. CEO and co-founder Tina Sharkey says her company doesn't fear the behemoth of online retail: “Amazon is the everything store,” she says. “We’re a highly curated collection.” Bloomberg
• Gee wiz. U.S. District Judge Dolly Gee has ordered the Trump administration to obtain consent or a court order before administering any psychotropic medications to migrant children, except in cases of dire emergencies. She also ordered the government to move most children out of the Texas Shiloh Residential Treatment Center, where staffers have admitted to signing off on medications in lieu of a parent, relative or legal guardian. Washington Post
• It's a start. Les Moonves may have survived Monday's CBS board meeting—which many observers suggested would result in his suspension—but the New Yorker story accusing him of sexual misconduct is likely to have other effects. For example: The possible premature termination of his contract, which is set to expire in 2021, could cost him as much as $300 million in forfeited wages, bonuses and other awards. Bloomberg
• Get consent. Ancestry, led by CEO Margo Georgiadis; 23andMe led by CEO and co-founder Anne Wojcicki; and other genetic test companies have agreed to accept new guidelines requiring them to be more explicit with customers about sharing their DNA with researchers, other companies, or the government. Fortune
MOVERS AND SHAKERS: Micaela le Divelec Lemmi has been named CEO of Salvatore Ferragamo.
IN CASE YOU MISSED IT
• Open to All. Levi Strauss, Lyft, and Yelp are leading a coalition of more than 1,200 businesses and cities that are vowing not to discriminate against employees or customers based on race or sexual orientation. The group, called Open to All, was formed in the aftermath of the U.S. Supreme Court ruling in the case of a Colorado baker who refused to make a custom cake celebrating a same-sex wedding. The court ruled in favor of the baker and did not explicitly protect certain minority groups from discrimination. Businesses can join the coalition by signing up at www.opentoall.com/business-pledge. Fortune
• Suit up! The Unicode Consortium, which oversees which emojis make it onto your phone, is now deciding whether to add a one-piece bathing suit, providing a "less sexualized" option than the current tiny bikini. The new suit was purposed by Florie Hutchinson and Jennifer 8. Lee. (Hutchinson is also urging the Consortium to consider a woman's flat shoe as an alternative to that red stiletto.) New York Times
• Hair for it. Octavia Spencer is slated to star in a forthcoming Netflix limited series, playing black beauty and hair care mogul Madam C. J. Walker, born Sarah Breedlove. The Cut
• I'll take game hosts for $100. Could the future host of Jeopardy! be a woman? It's still unclear whether Alex Trebek will actually retire when his contract expires in 2020, but the iconic host has speculated about who might replace him if he does, naming Laura Coates, a legal analyst and frequent on-air personality for CNN, as a contender. New York Times
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ON MY RADAR
Study finds no significant improvement in film inclusion over past decade The Hollywood Reporter
Why men get the 'glamour work' assignments more than women CNNMoney
Jennifer Lopez to receive VMA's Michael Jackson Video Vanguard award Ebony
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