Global Firms Commit $1bn To Tackle Plastic Waste
A collection of 30 multinational firms, including Henkel, ExxonMobil and Procter & Gamble, have together pledged $1 billion to help end plastic waste in the environment, with plans to invest as much as $1.5 billion over the next five years.
The Alliance to End Plastic Waste (AEPW) said that it will develop and scale solutions that will minimise and manage plastic waste and promote solutions for used plastics in a circular economy system.
The Alliance membership represents global companies located throughout North and South America, Europe, Asia, Southeast Asia, Africa, and the Middle East.
“Everyone agrees that plastic waste does not belong in our oceans or anywhere in the environment," commented David Taylor, chief executive of Procter & Gamble, and chairman of the AEPW.
"This is a complex and serious global challenge that calls for swift action and strong leadership. This new alliance is the most comprehensive effort to date to end plastic waste in the environment."
Among the projects announced by the group include partnerships with cities to develop integrated waste management systems in large urban areas; funding startups and entrepreneurs with solutions to tackle ocean waste; developing data collection systems to stop plastic waste from entering the environment; working with NGOs and the UN to conduct workshops for government officials and community based leaders; and supporting Renew Oceans, a project that seeks to capture plastic waste before it reaches the ocean from ten major global rivers.
“Success will require collaboration and coordinated efforts across many sectors – some that create near-term progress and others that require major investments with longer timelines," commented Veolia CEO Antoine Frérot, a vice chairman of the AEPW.
"Addressing plastic waste in the environment and developing a circular economy of plastics requires the participation of everyone across the entire value chain and the long term commitment of businesses, governments, and communities. No one country, company or community can solve this on their own."
The 30 companies that are members of the Alliance include Alliance: BASF, Berry Global, Braskem, Chevron Phillips Chemical Company LLC, Clariant, Covestro, Dow, DSM, ExxonMobil, Formosa Plastics Corporation, U.S.A., Henkel, LyondellBasell, Mitsubishi Chemical Holdings, Mitsui Chemicals, NOVA Chemicals, OxyChem, PolyOne, Procter & Gamble, Reliance Industries, SABIC, Sasol, SUEZ, Shell, SCG Chemicals, Sumitomo Chemical, Total, Veolia, and Versalis (Eni).
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine