pennews
www.pennews.net
Plastic waste: Reliance Industries among global cos committing over $1.0 billion USD
Business

Plastic waste: Reliance Industries among global cos committing over $1.0 billion USD

Agency News

New Delhi, Jan 19: Reliance Industries is among thirty other global companies spread throughout North and South America, Europe, Asia, Southeast Asia, Africa, and the Middle East which has come forward to advance solutions to eliminate plastic waste in the environment, especially in the ocean.

Recently, an alliance of global companies from the plastics and consumer goods value chain launched a new organisation "Alliance to End Plastic Waste" to help end plastic waste in the environment.

The cross value chain AEPW currently made up of nearly thirty member companies has committed over $1.0 billion with the goal of investing $1.5 billion over the next five years.

"The Alliance will develop and bring to scale solutions that will minimize and manage plastic waste and promote solutions for used plastics by helping to enable a circular economy," said David Taylor, Chairman of the Board, President and CEO of Procter & Gamble, and chairman of the AEPW. “I urge all companies, big and small and from all regions and sectors, to join us,” he added.

The Alliance is a not-for-profit organisation that includes companies that makes, uses, sells, processes, collects, and recycles plastics. This includes chemical and plastic manufacturers, consumer goods companies, retailers, converters, and waste management companies, also known as the plastics value chain.

The Alliance has been working with the World Business Council for Sustainable Development as a founding strategic partner.

"They would partner with cities to design integrated waste management systems in large urban areas where infrastructure is lacking, especially those along rivers which transport vast amounts of unmanaged plastic waste from land to the ocean. This work will include engaging local governments and stakeholders, and generate economically sustainable and replicable models that can be applied across multiple cities and regions. The Alliance will pursue partnerships with cities located in high plastic leakage areas. The Alliance will also be looking to collaborate with other programs working with cities, such as Project STOP, which is working in Indonesia," a statement said.

"The steps would include development of an open source, science-based global information project to support waste management projects globally with reliable data collection, metrics, standards, and methodologies to help governments, companies, and investors focus on and accelerate actions to stop plastic waste from entering the environment. The Alliance will explore opportunities to partner with leading academic institutions and other organisations already involved in similar types of data collection," it added.

They would create a capacity building collaboration with intergovernmental organisations such as the United Nations to conduct joint workshops and trainings for government officials and community-based leaders to help them identify and pursue the most effective and locally-relevant solutions in the highest priority areas.

The alliance would also support Renew Oceans to aid localised investment and engagement. The program is designed to capture plastic waste before it reaches the ocean from the ten major rivers shown to carry the vast majority of land-based waste to the ocean. The initial work will support the Renew Ganga project, which has also received support from the National Geographic Society.

In the months ahead, the Alliance will make additional investments and drive progress in four key areas: Infrastructure development to collect and manage waste and increase recycling; innovation to advance and scale new technologies that make recycling and recovering plastics easier and create value from all post-use plastics; education and engagement of governments, businesses, and communities to mobilize action; and clean up of concentrated areas of plastic waste already in the environment, particularly the major conduits of waste, like rivers, that carry land-based plastic waste to the sea.

"Research from the Ocean Conservancy shows that nearly 80 per cent of plastic waste in the ocean begins as litter on land, the vast majority of which travels to the sea by rivers. In fact one study estimates that over 90 per cent of river borne plastic in the ocean comes from 10 major rivers around the world – eight in Asia, and two in Africa. Sixty percent of plastic waste in the ocean can be sourced to five countries in Southeast Asia," it stated.

“While our effort will be global, the Alliance can have the greatest impact on the problem by focusing on the parts of the world where the challenge is greatest; and by sharing solutions and best practices so that these efforts can be amplified and scaled-up around the world”, said Peter Bakker, President and CEO of World Business Council for Sustainable Development.

The other founding members of the Alliance are --BASF, Berry Global, Braskem, Chevron Phillips Chemical Company LLC, Clariant, Covestro, Dow, DSM, ExxonMobil, Formosa Plastics Corporation USA, 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. (UNI)