ibusinesslines.com
ibusinesslines.com November 14, 2018


World's Leading Companies Aim To End Plastic Waste By 2025

02 November 2018, 12:07 | Justin Tyler

Big brands including Coca-Cola, PepsiCo and Nestle pledge to turn tide on global plastic waste

Major companies responsible for a FIFTH of the world's plastic packaging pledge to end waste

New Zealand revealed this week that it signed the New Plastics Economy Global Commitment declaration in an effort to work with worldwide partners to cut down on plastics and become a "circular economy". More than $200m has been pledged by five venture capital funds to create a circular economy for plastic.

Over the past four years, the Ellen MacArthur Foundation has been rallying businesses and governments behind the positive vision of a circular economy for plastics.

Targets set under the Global Commitment will be reviewed every 18 months and ambitions will be scaled-up over the coming years.

Mark Schneider, Chief Executive Officer of Nestlé S.A., and CGF Board member, said, "I am proud that Nestlé is amongst the signatories of the New Plastics Economy Global Commitment".

Without action to curb plastic pollution in the oceans, there could be more plastic than fish in the sea by 2050.


L'Oréal, Johnson & Johnson and Burberry are amongst some of the biggest fashion and beauty brands in the world pledging to combat plastic pollution at the source.

"As a business we are committed to addressing both the plastic source and waste issues".

The company is also stimulating demand for collecting and recycling, contributing towards its toothpaste tubes and toothbrushes being collected, and reusing the plastic to create spanners to open bulk containers, reducing the use of virgin plastics.

"Plastic waste is one of the greatest environmental challenges facing the world", said United Kingdom environment secretary Michael Gove. This innovation allows plastic bottles and packaging of any color, transparency or condition, carpet, clothing and other polyester textiles that may contain colors, dyes or additives, and even ocean plastics that have been degraded by sun and salt to meet FDA requirements for use in food-grade packaging. "As business leaders we need to seize this opportunity to make a positive difference, not only for the world we live in today but for future generations too". "We will do our part to ensure that none of our packaging, including plastics, ends up in the natural environment".

The Oakland, Calif. -based investor advocacy group As You Sow Foundation, which is leading a $1 trillion coalition of institutional investors pressuring companies on plastics use, said it signed the agreement as a supporter but wanted to see more specifics, like calling for producer responsibility to raise recycling rates. "The sheer number and size of the companies behind this pledge shows the industry is responding to people's concerns about the impacts of plastic waste". Just because something is recyclable, it doesn't mean it will actually be recycled. The New Zealand Plastic Packaging Declaration, where 15 local and multi-national companies have pledged to use 100 per cent reusable, recyclable or compostable packaging in their New Zealand operations by 2025 or earlier is another useful initiative.



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