About 30 plastic value chain giants, among them Brazil’s Braskem, announced an alliance to invest up to US$ 1.5 bi to combat plastic pollution, especially in the oceans

About 30 companies in the plastic value chain worldwide signed an unprecedented alliance to combat plastic pollution. The Alliance to End Plastic Waste (AEPW), of which Brazilian petrochemical Braskem is part, announced a commitment to invest US$ 1 billion in projects and technologies to end the disposal of plastic waste into the environment, especially the oceans. The goal is to increase investments to US$ 1.5 billion in the next five years.

AEPW is a non-profit organization that includes companies that make, use, sell, process, collect, and recycle 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 its founding strategic partner.

“None of us want an environment littered with plastic waste. This is a serious and complex global challenge that requires immediate actions and strong leadership. This new Alliance is the most comprehensive effort ever made to end the disposal of plastic into the environment,” says Fernando Musa, CEO of Braskem. “Plastic is an extremely efficient material that helps to minimize our impact on the environment in almost all aspects of modern life. But we need to work to minimize disposal and to recover plastic after its usage.”

How will the global alliance operate?

“Everyone agrees that plastic waste doesn’t belong in our oceans or anywhere in the environment. This new alliance is the most comprehensive effort to date to end plastic waste in the environment,” says David Taylor, Chairman of the Board, President and CEO of Procter & Gamble, in a statement by the organization.

The global alliance action plan includes partnerships with municipal governments to design municipal waste management integrated systems, especially in locations with rivers carrying plastic waste to oceans, and intergovernmental organizations, such as the United Nations (UN). AEPW will also fund the development and promotion of technologies, business and entrepreneurship models for waste and recycling management.

“History has shown us that collective action and partnerships between the industry, governments and NGOs can yield innovative solutions to a global challenge like this,” said Bob Patel, CEO of LyondellBasell, and vice chairman of the AEPW. “The time for action is now,” he added.

Content published in March 7, 2019

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