New Plastics Economy Global Commitment Report 2020
In Partnership with the Ellen MacArthur Foundation
We empower the regenerative society. We build ethical recycling ecosystems in coastal communities, and reprocess the materials for reintroduction into the global supply chain as Social Plastic®.
Our members receive a premium for the materials they collect which helps them provide basic family necessities such as groceries, cooking fuel, school tuition, and health insurance. Our proprietary blockchain platform secures the entire transaction and provides real-time data visualization – allowing for transparency, traceability, and rapid scalability.
Our goal by 2025 is to collect and recycle 1 billion kg of ocean bound plastic.
In order 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.
Together, with over 450 signatories around the world, we have committed to eliminate the plastic items we don’t need; innovate so all plastic we do need is designed to be safely reused, recycled, or composted; and circulate everything we use to keep it in the economy and out of the environment.
We’ve accomplished significant results toward our 2025 goal to collect and recycle 1 billion kg of ocean bound plastic. Between January 2019 and December 2019 we have collected and recycled 3,232,082 kg of ocean bound plastic – the equivalent of over 160 million single use plastic bottles prevented from entering the ocean. We have engaged over 10,000 collector members and expanded our global recycling ecosystem to have active operations in Haiti, Indonesia, the Philippines, and Brazil.
For 2020, we are on track to collect and recycle 16,000,000 kg – the equivalent of over 800 million single use plastic bottles! In addition, we are excited to open up recycling ecosystems in Egypt and Cameroon, and expand into new regions in Southeast Asia.
These concepts play an important role in the three Abrahamic traditions – Judaism, Christianity, and Islam. They also underlie the principles of Plastic Bank’s model to help stop ocean plastic while improving the lives of collector communities.
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