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Data last verified: Wednesday, 04/24/2024

Ocean-bound plastic

Plastic Bank operates under the global standard defined by Jenna Jambeck. Ocean-bound plastic is defined as plastic that has not yet found its way into the ocean but is classified as "mismanaged waste". That is, plastic that is not being (formally) collected, is not likely to be collected, and is found within 50km of an ocean-bound waterway or coastal area.

Community Members

Individuals within a recycling community who collect plastic and exchange it at a Plastic Bank collection branch for secure income and life-improving benefits.

Equivalent Bottles Stopped

The amount of ocean-bound plastic collected and recycled in our recycling communities converted into bottles. Conversion rate is 50 bottles per kg (the average weight of a 500mL bottle is ~20g)

Recycling Communities

Community of plastic collectors living within 50 kilometres of ocean-bound waterways involved in plastic collection and its exchange at Plastic Bank collection points.

Alchemy

Alchemy is the blockchain platform that powers the Plastic Bank app. It enables fully traceable recycling processes, secures income for recycling community members and tailors impact reports for our stewards.

Plastic Bank wins Social Impact Award

Written by Estee Lutte Engao on 19 October 2022

Minutes to read: 1 minute

Plastic Bank collection community members in Manila, PhilippinesPlastic Bank collection community members in Manila, Philippines

It’s a momentous month for our Social Recycling movement! Together, we have hit yet another billion bottle milestone – stopping over 60 million kilograms of plastic from reaching the ocean – the equivalent of 3 billion plastic bottles.

But that’s just one of the reasons to celebrate! We are honored to announce that we have been named Social Impact Award Winner at the Reuters Events Responsible Business Awards 2022! More than just acknowledging excellent sustainability strategies, Responsible Business Awards applauds those that are truly making an impact on business, society, and the environment.

Here’s what the judges say about our undisputed win:

“The judges felt that Plastic Bank was a clear winner. Their work demonstrates how they are taking a huge global issue and addressing it at the root cause, attempting to prevent plastic from getting into the stream at the root of the issue. The judges were struck by the interesting business model, the tech platform used, and the focus on entrepreneurship in the communities they worked and liked that the approach was global. This submission was one of the few that the judges wanted to research separately.”

We would like to thank all of our Humans of Social Recycling – the collection community members, branch owners, processors, partners, employees, and consumers – for standing on the right side of history and making these milestones possible. You too can help stop ocean plastic and alleviate poverty. Begin at www.plasticbank.com.

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