New Alliance Invests $Billions for End to Plastic Waste Project

To do so, they have established a new Alliance to End Plastic Waste which already has a $1 billion commitment from alliance members and wants to add up this amount up to $1.5 billion. The alliance has targeted five years to do the job.Some analysts beleive that the recent alerts over the ocean pollution has pushed some more involved companies in plastics production to act seriously, and because of that, the alliance founders include companies along the plastics value chain.Irrespective of the previous concern about the solid wastes, the new alliance seeks to inject itself into the waste management portion of the problem by helping design systems in “large urban areas where infrastructure is lacking, especially along rivers which transport vast amounts of mismanaged plastic waste from land to ocean.”Some data reveal that the most problematic rivers contributing to the ocean plastic problem are located in the Asian countries.

According to “PN Daily“, the founding members of the alliance include BASF, Berry Global, Braskem, Chevron Phillips Chemical Co. LLC, Clariant, Covestro, Dow, DSM, ExxonMobil, Formosa Plastics Corp. USA, Henkel, LyondellBasell, Mitsubishi Chemical Holdings, Mitsui Chemicals, Nova Chemicals, OxyChem, Procter & Gamble, Reliance Industries, Saudi Basic Industries Corp., Sasol, Suez, Shell, SCG Chemicals, Sumitomo Chemical, Total and Veolia.

The media reflects;

“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, in a statement. “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.

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News, Ocean Cleanup

New Alliance Invests $Billions for End to Plastic Waste Project

New Alliance Invests $Billions for End to Plastic Waste Project

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According to published news in several media in the world, several high profile companies including in the plastics industry have decided to follow projects that may end to the plastics wastes. the companies have raised founds in order to bring this belief to a reality.

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