The World’s Biggest Plastic Producers Join Forces to Improve Waste Collection and Recycling
A coalition of the world’s biggest plastic producers and users has set up a new US$1.5 billion fund to improve waste collection and recycling in developing countries.
The fund will focus its spending in Southeast Asia, where waste collection systems are lacking and leakage of plastic into waterways is the most severe.
The Alliance to End Plastic Waste is made up of 30 companies including Shell, ExxonMobil, Dow, and Procter & Gamble, along with investment management firm Circulate Capital and New York consultancy SecondMuse. The alliance will invest the fund on waste collection and recycling projects over the next five years.