2021 New Plastics Economy Global Commitment Progress Report
Plastic Bank empowers the regenerative society. We build ethical recycling ecosystems in coastal communities and reprocess the materials for reintroduction into the global supply chain.Our goal by 2025 is to collect and recycle 3 billion bottles of ocean-bound plastic.
To achieve our ambitious goal, we need to gather together and collaborate with other companies and organizations dedicated to protecting the environment. We’re proud to be a signatory to the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment since 2018. The commitment calls on companies and governments to eliminate the plastic we don’t need to innovate. All plastic we do need is 100% reusable, recyclable, or compostable and circulates all the plastic we use.
The Ellen MacArthur Foundation leads the New Plastics Economy Global Commitment in collaboration with the UN Environment Programme. It unites more than 500 signatories behind a shared vision to ensure the circularity of plastic.
We’ve accomplished significant results toward our 2025 goal. For example, between January 2020 and December 2020, we prevented 510,350,100 single-use plastic bottles from entering the world’s ocean – the equivalent of 10,207,002 kilograms prevented from entering the world’s oceans. We also impacted the lives of over 70,000 families living in vulnerable coastal communities, providing basic necessities such as groceries, cooking fuel, school tuition, and health insurance. In addition, we have engaged over 23,000 collectors and expanded our global recycling ecosystem to have active operations in Haiti, Indonesia, the Philippines, Brazil, and Egypt.
In 2021, we celebrated the milestone of having prevented 1 billion bottles of single-use ocean-bound plastic, and we are on track to collect and recycle the next billion within the next year. We are also on track to open up new recycling ecosystems in Africa and Southeast Asia.
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