Starbucks is investing $10 million in a new initiative to develop a green cup that is recyclable and biodegradable.

The coffee giant is partnering with the Closed Loop Foundation on the NextGen Cup Challenge to fund and support those pioneering products in this area.

“We are declaring a moon shot for sustainability to work together as an industry to bring a fully recyclable and compostable cup to the market, with a three-year ambition,” explained Colleen Chapman, Vice President of Starbucks global social impact overseeing sustainability, in a news statement this week.

And the open source approach being taken by the challenge will ensure the solution can be implemented by a range of cross-sectoral stakeholders.

“We want to make sure this technology is available to everyone because it’s the right thing to do. The idea of environmental sustainability in packaging is not just a Starbucks issue. It’s a global issue. Anything that gets us closer to that goal is not something we want to keep to ourselves,” added said Andy Corlett, director of packaging R&D for Starbucks.