GreenPrint Discusses How Technology and Partnerships Can Help Jump Start a Circular Economy
GreenPrint CEO Pete Davis talks about the company’s new partnership with Plastic Bank, an organization working to stop ocean plastic.
GreenPrint is an environmental technology company that serves businesses wanting to make a positive impact through turn-key programs that reduce carbon, plastic, water and energy footprints. The system provides real-time reporting to clients allowing them to better manage their environmental impact. GreenPrint's programs are currently running at over 4,500 retail locations in 14 countries across the globe.
The company recently teamed up with Plastic Bank, an economic development firm that empowers disenfranchised communities to exchange any type of plastic for currency. According to a 2015 report by Ocean Conservancy and the McKinsey Center for Business and Environment, five Asian countries—China, Indonesia, the Philippines, Vietnam and Thailand—accounted for more than 55% of the plastic waste leaking into the ocean. Raising collection rates to an average of approximately 80% across just those five countries reportedly would reduce plastic-waste leakage into the ocean by approximately 23%.
Plastic Bank says that as of May 31, 2019, it has cumulatively recovered over 10 million lb of mismanaged waste plastic from the ocean-bound environment.
I talked with GreenPrint CEO Pete Davis to learn more about how technology can help solve the global plastic waste crisis.
Davis says that GreenPrint’s initial focus was on carbon reduction and industries that historically struggled to address sustainability due to consumer price sensitivity and fierce competition. Industries that included fleet, retail and wholesale fuel, and convenience stores, with the goal of increasing consumer goodwill, and profitability in a socially conscious way by promoting sustainability and reducing negative impact of tailpipe emissions.
“We knew we wanted to tackle plastic pollution in a similar way and offer existing clients and new prospects another opportunity to reduce the negative impacts of their business footprint in a turn-key way,” Davis says. “We view our partnership with Plastic Bank as true win-win. Through our network of clients and partners we can drive additional awareness to solutions that don’t require infrastructure or supply chain disruption.”
Through the partnership with Plastic Bank, GreenPrint will now offer its clients and partners the opportunity to become plastic neutral, which he says can be achieved by offsetting the volume of plastic consumed with an equal volume of plastic recycled. The Social Plastic Collections Credits (SPCC) fund provides the recovery and recycling of an equivalent volume of ocean-bound plastic, effectively neutralizing the environmental impact of virgin plastic use. A company, business unit, product line, or individual can become plastic neutral by purchasing the required amount of SPCCs; each SPCC recovers 1 kilogram of ocean-bound plastic.
Other programs include Ecosystem Activation Partners that allow companies to fund the creation of new Social Plastic Ecosystem, using block chain technology, building branded branches in different places and engage local communities to begin converting waste into currency.
“Through the Plastic Bank relationship, recycle centers are established through the world,” Davis says. “Residents earn a stable income stream by exchanging plastic material receiving the spot market rate for plastic by type and weight. GreenPrint calculates a business’s plastic footprint and invests in Social Plastic Collection Credits, which then empower disenfranchised communities to exchange an equivalent about of plastic reclaimed for currency.”
“GreenPrint and Plastic Bank offer businesses a bridge to a more sustainable future. Business can take a step towards more sustainable business practices without immediate disruption to their supply chain, all while helping both the environment, their customers and emerging economies,” Davis says.
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