New global alliance commits USD1 billion plus to help solve plastic waste problem
An alliance of global companies from the plastics and consumer goods value chain has launched a new organization to advance solutions to eliminate plastic waste in the environment, especially in the ocean.
The cross-value chain Alliance to End Plastic Waste (AEPW), currently made up of nearly 30 member companies, has committed more than USD1.0 billion with the goal of investing USD1.5 billion over the next five years to help end plastic waste in the environment.
The following companies are the founding members of the 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).
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. The alliance membership represents global companies and 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. 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,” 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.
“History has shown us that collective action and partnerships between industry, governments and NGOs can deliver innovative solutions to a global challenge like this,” said Bob Patel, CEO of LyondellBasell, and a vice chairman of the AEPW. “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.”
The alliance is a not-for-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 a founding strategic partner.