Plastic Bank Sustainability Report 2023

Plastic pollution and poverty are twin crises that feed into each other, trapping millions in a vicious cycle of environmental degradation and economic hardship. Communities struggling with poverty bear the heaviest burden of waste pollution, lacking the resources and infrastructure to manage it effectively. This not only harms their environment but also endangers their health and livelihood.

At Plastic Bank, we believe that we can break this cycle. Our mission goes beyond cleaning the environment; it’s about restoring dignity and creating opportunities for those who need it most. We empower communities to collect discarded plastic and transform waste into wealth, turning environmental action into a pathway out of poverty.

In 2023, our collective efforts created significant environmental and social impact. Across the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon, over 10,960 registered collection members gathered a staggering 38,809,717 kilograms of plastic. This is a testament to the strength of community, the resilience of the human spirit, and the boundless hope for a better future. Each kilogram gathered represents a step towards regeneration and a better life for those gathering it.

This is made possible by the collective efforts of individuals, communities, and partners who share our mission. Each story, each statistic, and each impact point in our Sustainability Report 2023 symbolizes what we can achieve when we unite for a common purpose. Let’s dive into the heart of our efforts and celebrate the incredible milestones we’ve reached together.

Our impact in action

With the support of our partners, Plastic Bank has made significant strides in reducing plastic pollution and promoting recycling in underserved communities. Our Impact Programs enable businesses to offset their plastic footprint by purchasing plastic collection credits, directly supporting the certified collection of plastic, and aiding collection community members.

Our Social Plastic® partners are crucial in advancing a circular economy. By integrating recycled feedstock into their products and packaging, they are building a closed-loop supply chain that reduces the demand for virgin plastic, creating environmental, social, and economic benefits.

2023 environmental impact data¹:

• Plastic gathered: 38,809,717 kg
• Plastic bottles equivalent²: 1,940,485,875
• Countries impacted: 6
• Certified processor partners: 20
• Collection branches³: 781

_{1 – Data from PlasticBank® App, June 2024
2 – 1 kilogram of plastic is equivalent to 50 plastic bottles (Plastic Bank Bottle2KG Report, Mar ’23) 
3 – Active collection branches that had at least one plastic exchange in 2023} 

Beyond stopping plastic pollution, Plastic Bank is dedicated to ending poverty by providing social benefits and financial inclusion opportunities to underserved communities. Our programs are tailored to meet the specific needs of each community, addressing key areas such as health, nutrition, education, and safety.

Key social benefits offered:

• Insurance: Providing health and work insurance to ensure the well-being of our collection community members and their families.
• Grocery and meal vouchers: Enhancing family nutrition through vouchers and meal kits.
• Education: Offering training on business tools, financial literacy, sustainability, and the importance of recycling.
• School Programs: Supporting children’s education with bursaries and essential supplies.
• Safety kits: Equipping collection members with COVID kits, hygiene kits, PPE, and logistical aids like trolleys and pushcarts.

2023 social impact data¹:

• Total bonuses paid: USD 2,347,447
• Lifetime active collection members²: 26,986
• Children impacted by school programs³: 369
• People with health insurance⁴: 3,428
• People in nutrition programs: 4,635
• Mobile connectivity provided: 92
• People with work insurance: 2,551
• Financial inclusion: 486

_{1 – Data from March and June 2024
2 – Lifetime active members are defined as those who have done at least one recycling transaction recorded in the app. 
3 – Includes school tuition, bursaries, digital learning tools, school programs,  health, food and nutrition. 
4 – Includes members and their families}

Partnerships driving change

Creating true change requires collaboration. Our partnerships with industry leaders have significantly amplified our impact, demonstrating that profitability can coexist with purpose. These businesses embrace the power of purposeful action, redefining success to include benefits for both our planet and the people.

By investing in our Impact solutions or incorporating Social Plastic® feedstock into their manufacturing processes, our partners contribute to a sustainable future. Their support aligns with several UN Sustainable Development Goals (SDGs), ensuring a comprehensive approach to global challenges:

1: No Poverty 

8: Decent Work and Economic Growth 

12: Responsible Consumption and Production 

14: Life Below Water 

17: Partnerships for the Goals

Inclusive work culture

Our workforce is the cornerstone of our success, integral to achieving the success we celebrate. We believe in treating every employee with respect and fairness, allowing them to bring their authentic selves to work.

In 2023, we introduced several new Human Resource policies covering social media, annual incentives, overtime, paid time off (PTO), and device use. We also developed HR projects focused on non-discrimination interviewing guidelines, defining competencies, and enhancing performance management.

To further support our employees, we implemented Cost of Living Adjustments (COLA) for those in high-inflation regions such as the Philippines, Egypt, and Indonesia. We conducted quarterly regional meet-ups to foster team cohesion and initiated monthly learning sessions to promote continuous professional development.

Our commitment to diversity is reflected in our workforce, with 45% females and 55% males as of December 2023. These initiatives highlight our dedication to creating an inclusive and dynamic workplace where every team member can thrive and contribute to our shared success.

Turning challenges into opportunities

Our mission to end poverty and stop plastic pollution is a bold and transformative journey filled with challenges that become opportunities for innovation, growth, and positive change.

Access to technology and the internet

Limited access to technology and the internet can restrict community members’ ability to fully benefit from social programs. Many families share a single smartphone, and there is often a need for more awareness about how internet access can improve their lives. Important information about social programs is typically communicated through platforms like WhatsApp, which may not reach all members. To overcome this, we have implemented comprehensive digital literacy training programs. These initiatives empower community members to engage with available opportunities, enhancing their connectivity and ability to leverage technology for their benefit.

Low literacy levels

Low literacy levels pose a significant challenge, limiting community members’ understanding and access to information about social programs. We address this by making information more accessible and promoting increased engagement with the PlasticBank® app. Simplifying program details helps community members navigate and utilize these resources effectively. This approach improves access to essential information and encourages active participation, indirectly contributing to enhanced literacy skills. 

Sustaining the momentum

In 2024, the urgency of our mission swells. We’re set to expand our reach, deepen our impact, and redefine the boundaries of what’s possible. This is a call to each of you: join us in this regenerative journey. Your participation is critical, whether through personal action, corporate collaboration, or community involvement.

Together, we continue to build a future where every business uses purpose as a tool to drive profit, creating an economy that is regenerating our planet and serving our people. The moment for action is now – join us.

Click here to read the full Plastic Bank Sustainability Report 2023.