Industry pledges $1.5bn in the fight against plastic waste

International concerns are pledging $1.5bn in

an effort to combat marine plastic pollution.

16.01.2019 − 

International companies in the petrochemical, plastics and consumer goods industries plan to invest $1.5bn over the next five years to reduce plastic pollution. The members of the "Alliance to End Plastic Waste" (AEPW) also includes the French environmental service concerns Veolia and Suez. All together, the alliance comprises 28 companies which say they have made financial commitments totalling $1.0bn (€880,000) to date.

Because most of marine plastics originate as land-based waste, AEPW wants to help cities develop waste management infrastructure and build partnerships. The focus will be on urban areas where large amounts of plastic waste are released into the environment. The Alliance is seeking to work together with other programmes cooperating with cities, such as the STOP project in Indonesia.

The alliance also plans to finance new technologies, business models and companies that prevent the release of marine waste and which improve waste management and recycling. This will be done through Circulate Capital's incubator network programme. AEPW says its goal is to establish a "pipeline of investment projects" with an initial focus on Southeast Asia.

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