Last week, international petrochemical, plastics and consumer goods companies launched the Alliance to End Plastic Waste (AEPW), a global initiative aiming to provide a total of US$1.5 billion over the next five years for the reduction of environmental impacts caused by plastic waste. At the start, 28 global players are already involved, including BASF, Braskem, Clariant, DOW, ExxonMobil, PolyOne and Shell. These companies have already committed $1 billion in funding.
One of the Alliance’s priorities is to support cities and regions in the development of waste management infrastructure that are particularly affected by plastic waste. In addition to cooperation with other environmental programs such as Stop Ocean Plastics, another starting point is the financing of new technologies and business models to develop infrastructure to collect and manage waste and increase recycling.