VANCOUVER, British Columbia, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Over 200 global companies have stopped another billion plastic bottles from entering the world's oceans. This was achieved through Plastic Bank’s recycling ecosystems in just 8 months, and is 12 times faster than the first billion stopped. This 2-billion milestone is evidence of Plastic Bank’s commitment to stop ocean plastic and end poverty in the world's most vulnerable coastal communities, while revolutionizing the global circular economy for recycled plastics.
Two billion plastic bottles is equivalent to more than 40 million kilograms of plastic that would have otherwise found its way into our oceans. In reaching this milestone, the social enterprise worked with more than 30,000 collectors across the Philippines, Indonesia, Brazil, and Egypt. Collectors in Plastic Bank’s ecosystems exchange plastic waste for bonuses that help improve household income and accessibility to basic family necessities such as groceries, cooking fuel, school tuition, health insurance and digital connectivity.
"Plastic pollution and its impact on our oceans is one of the world's most significant challenges. The collection of two billion ocean-bound plastic bottles is a testament to the fact that each of us can be a hero in reducing plastic waste while improving the lives of people who collect it," says David Katz, Founder and CEO of Plastic Bank. "Our Heroes – the collectors, branch owners, partners, contributors, and employees – are stewarding business, consumption, lives, and the planet towards regeneration."
Founding partners SC Johnson and Henkel helped support the collection efforts by contributing to more than half of the two billion milestone. Over 200 global heroes, including CooperVision, METRO AG, ScanCom, HelloFresh, Carton Pack, Lombard Odier, Lillydoo, Advansa, Natreve, DM, Wella, P&G, Coca-Cola, Unwrapped Life, L’Oreal, Better Packaging, Alcon and Pernod Ricard helped enable the collection of ocean-bound plastic waste from beaches, riverbanks, and neighbourhoods, to reach the landmark amount. By integrating Social Plastic™ back into their manufacturing supply chain, Plastic Bank's partners support a regenerative circular economy.
“There are ten trillion kilos of plastic still out there, with eight billion kilos being dumped into our oceans every year. You can either look away, assuming it’s someone else’s problem or become the change you seek. It takes heroes to stop ocean plastic and our planet desperately needs more of them,” says David Katz. “You need to understand the significance of every choice that solves the plastic problem and must be willing to make them – from what you buy or manufacture, to how you use, dispose and recycle plastic. It is time to gather together to stop ocean plastic and end poverty. It is time to transform our world into a better place.”
Plastic Bank has more than 511 active collection branches across the Philippines, Indonesia, Brazil, and Egypt. With its sights on collecting the next billion plastic bottles, Plastic Bank plans to expand its presence in Southeast Asia and Central Africa.
About Plastic Bank
Plastic Bank® empowers the regenerative society. The organization helps the world stop ocean plastic while improving the lives of collector communities. Plastic Bank builds ethical recycling ecosystems in coastal communities and reprocesses the materials for reintroduction into the global manufacturing supply chain. Collectors receive bonuses for the materials they collect, which helps them provide basic family necessities such as groceries, cooking fuel, school tuition, and health insurance. Plastic Bank's Alchemy™ blockchain platform secures the entire transaction and provides real-time data visualization – allowing for transparency, traceability, and rapid scalability. The collected material is reborn as Social Plastic®, which can be easily reintegrated into products and packaging as part of a closed-loop supply chain. Learn more at plasticbank.com.