Industry alliance commits $1bn to tackle oceans' plastic waste

The cross value chain Alliance to End Plastic Waste (AEPW) has committed over $1bn (£778m) with the goal of investing $1.5bn (£1.2bn) over the next five years to reduce the amount of plastic waste produced and improve recycling. 

The Alliance includes companies producing consumer goods and plastic, as well as waste management and recycling firms. Among nearly thirty members are household names such as Procter & Gamble, Shell, Veolia, BASF and ExxonMobil.

The firms intend to invest in a wide variety of projects, including research and development into new recycling technologies, building infrastructure to collect and recycle waste, and cleaning of areas where plastic waste concentrates, such as in rivers.

David Taylor, chief executive of Procter & Gamble, who will chair the alliance, said: “Everyone agrees that plastic waste does not belong in our oceans or anywhere in the environment. 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. I urge all companies, big and small and from all regions and sectors, to join us.

Bob Patel, CEO of LyondellBasell, and a vice chairman of the AEPW, added: “History has shown us that collective action and partnerships between industry, governments and NGOs can deliver innovative solutions to a global challenge like this. The issue of plastic waste is seen and felt all over the world. It must be addressed and we believe the time for action is now.”

For more information, please visit www.endplasticwaste.org