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11/9/2018 | 2 MINUTE READ

Additional Companies Sign New Plastics Economy Global Commitment

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Signatories include raw material producers Borealis AG, Ecovative, Indorama Ventures Public Co. Limited, NatureWorks, Novamont SpA and more. 

The New Plastics Economy Global Commitment, led by the Ellen MacArthur Foundation, in collaboration with UN Environment, was officially unveiled at the Our Ocean Conference in Bali on Oct 29.

Signatories include companies representing 20% of all plastic packaging produced globally. They include consumer businesses such as Danone; H&M group; L’Oréal; Mars; PepsiCo; The Coca-Cola Co.; and Unilever; major packaging producers such as Amcor, as well as materials producers including Novamont, Borealis and NatureWorks. There were also members from the collection, sorting and recycling industry including SUEZ, TOMRA Systems, Loop Industries and more. 

The Global Commitment and its vision for a circular economy for plastic are supported by the World Wide Fund for Nature (WWF), and have been endorsed by the World Economic Forum, The Consumer Goods Forum (a CEO-led organization representing some 400 retailers and manufacturers from 70 countries), and 40 universities, institutions and academics. More than 15 institutions with in excess of $2.5 trillion in assets under management have also endorsed the Global Commitment and over $200 million has been pledged by five venture capital funds to create a circular economy for plastic.

The Global Commitment aims to create ‘a new normal’ for plastic packaging. Targets will be reviewed every 18 months, and become increasingly ambitious over the coming years. Businesses that sign the commitment will publish annual data on their progress to help drive momentum and ensure transparency.

Targets include:

  • Eliminate problematic or unnecessary plastic packaging and move from single-use to reuse packaging models.

  • Innovate to ensure 100% of plastic packaging can be easily and safely reused, recycled, or composted by 2025.

  • Circulate the plastic produced, by significantly increasing the amounts of plastics reused or recycled and made into new packaging or products.

“Change is possible. We truly believe that working side-by-side, businesses and governments can tackle plastic pollution at the source,” says Borealis CEO Alfred Stern. “As a plastics producer we have taken a leading role in helping to solve the issue of plastic littering and recycling. We support ‘A Line in the Sand’ Global Commitment by committing to more than quadruple our recycled plastics volumes by 2025 and further scaling up our Project STOP to help close the tap on ocean plastics.”

"We are proud to sign the New Plastics Economy Global Commitment," says Daniel Solomita, founder & CEO, Loop Industries. "Joining leading companies from around the world by supporting and activating the commitment fuels our goal to accelerate the world's shift toward sustainable plastic and away from the traditional, take, make and dispose economy. It is inspiring to be part of this transition to a circular plastic economy."