$1.5 Billion Global Alliance Project Launched to End Plastic Waste
The cross value chain Alliance to End Plastic Waste (AEPW), currently made up of nearly thirty member companies, has committed over $1.0 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment. The Alliance will develop and bring to scale solutions that will minimize and manage plastic waste and promote solutions for used plastics by helping to enable a circular economy. The Alliance membership represents global companies and located throughout North and South America, Europe, Asia, Southeast Asia, Africa, and the Middle East.
The Alliance is a not-for-profit organization that includes companies that make, use, sell, process, collect, and recycle plastics. This includes chemical and plastic manufacturers, consumer goods companies, retailers, converters, and waste management companies, also known as the plastics value chain. The Alliance has been working with the World Business Council for Sustainable Development as a founding strategic partner. The Alliance today also announced an initial set of projects and collaborations that reflect a range of solutions to help end plastic waste:
Partnering with cities to design integrated waste management systems in large urban areas where infrastructure is lacking, especially those along rivers which transport vast amounts of unmanaged plastic waste from land to the ocean.
Funding to support The Incubator Network by Circulate Capital and SecondMuse to develop and promote technologies, business models and entrepreneurs that prevent ocean plastic waste and improve waste management and recycling, with the intention of creating a pipeline of projects for investment, with an initial focus on South and Southeast Asia.
Developing an open source, science-based global information project to support waste management projects globally.
Creating a capacity building collaboration with intergovernmental organizations such as the United Nations to conduct joint workshops and trainings for government officials and community-based leaders.
Supporting Renew Oceans to aid localized investment and engagement. The programme is designed to capture plastic waste before it reaches the ocean from the ten major rivers shown to carry the vast majority of land-based waste to the ocean.