The Chemistry Industry Association of Canada (CIAC) welcomed the announcement of a global alliance of companies in the plastics and consumer goods value chain committing US$1 billion to help combat plastic waste in the environment.
Comprised of nearly 30 member-companies – including CIAC members BASF, Dow, Imperial Oil (via ExxonMobil) NOVA Chemicals and Shell Chemicals – the Alliance to End Plastic Waste (AEPW) has committed over $1 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment.
The not-for-profit 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. Working with the World Business Council for Sustainable Development as a founding strategic partner, the Alliance has developed an initial set of projects and collaborations which include partnering with cities to design waste management systems, collaboration with United Nations Environment Programme and funding the Incubator Network by Circulate Capital, among others.
Last June, the North American chemistry and plastics industries signaled their support for a more circular economy for plastics by announcing ambitious goals which will see industry do its part by ensuring 100 percent of plastics packaging is capable of being recycled or recovered by 2030 and 100 percent of plastics packaging reused, recycled or recovered by 2040. Achieving these goals will require shifts in resources, policies and behavior, as well as innovation from the chemistry sector.
“Unfortunately, nearly 80 percent of all post-consumer plastics in Canada end up in landfills mainly as a result of improper sorting, contamination and the limited diversion tools at our disposal. This represents a terrible waste of energy and precious resources,” said Bob Masterson, president and chief executive officer of CIAC.
Published in the February 2019 Edition