Pollution

New global alliance commits over $1 billion to help end plastic waste

Alliance to End Plastic Waste (AEPW), comprising about 30 companies, aims to invest $1.5 billion over the next five years in fight against plastic pollution

 
By DTE Staff
Last Updated: Thursday 17 January 2019
Representational Image. Credit: Getty Images

An alliance of global companies launched a new organisation on January 16, 2019, to help eliminate plastic waste, especially in the ocean.

The Alliance to End Plastic Waste (AEPW), comprising about 30 companies, pledged over $1 billion to eliminate plastic waste across the world. They aim to invest $1.5 billion over the next five years for the same.

The aim is to develop solutions to mitigate plastic pollution and promote a circular economy by utlising used plastics. Designed as a non profit organization, the Alliance includes companies from across North and South America, Europe, Asia, Southeast Asia, Africa as well as the Middle East are part of the Alliance.

Member companies include those that make, use, sell, process, collect and recycle plastics, as well as chemical and plastic manufacturers, consumer goods companies, retailers, converters, and waste management companies, also called the plastics value chain. From India, Reliance Industries will advance efforts towards a sustainable future.

“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,” says 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 adds.

“History has shown us that collective action and partnerships between industry, governments and NGOs can deliver innovative solutions to a global challenge like this,” says Bob Patel, CEO of Lyondell Basell, 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,” adds Patel.

“Success will require collaboration and coordinated efforts across many sectors – some that create near-term progress and others that require major investments with longer timelines. Addressing plastic waste in the environment and developing a circular economy of plastics requires the participation of everyone across the entire value chain and the long term commitment of businesses, governments, and communities. No one country, company or community can solve this on their own,” said Veolia CEO Antoine Frérot, a vice chairman of the AEPW.

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