Launching a Global Business Initiative to End Plastic Pollution

NEW YORK, September 25, 2019 – The Minderoo Foundation, a global nonprofit, announced today that it will commit $300 million1 to a new business-focused initiative to end plastic waste around the wor.

The initiative, Envisioning the Sea of ​​the Future, is expected to raise more than $20 billion a year1 for the recovery, recycling and environmental remediation of plastics around the wor.

Andrew Forrest, founder and chairman of the Middlebury Foundation, said: "With the full support of governments and regulators, the business world is able to drive this change - 'Save the Ocean from Plastic Wast.

“This existential threat to humanity requires a global solution that transcends borders, politics and corporate responsibili.

Currently, efforts to curb the increase in global plastic waste are disjointed and inadequa.

The Sea of ​​Foresight initiative will add more value to fossil fuel plastics through voluntary contributions to plastics produced from fossil fue.

The initiative was launched today at United Nations Headquarters in New Yo.

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Andrew Morlet, executive director of the Ellen MacArthur Foundation, said: "This Middle Road Foundation initiative exemplifies the systems thinking necessary to build a circular economy, which creates value to help wean our economy from fossil fue.

Funding raised by Sea of ​​Sight is expected to be at least $20 billion annually and will be collected and co-managed by a global environmental and industry body with appropriate regulatory approva.

The global plastics supply chain, including major producers and users of plastics such as The Coca-Cola Company, Walmart, Tesco, Unilever and Reliance Industries, India's largest plastics group, have already contributed to this initiati.

Alan Jope, Unilever's chief executive, said: "Protecting the oceans is fundamental to protecting and thriving life on Ear.

Brian Smith, president and operating officer of The Coca-Cola Company, said: "The Coca-Cola Company recognizes that plastic waste is a global problem and that we must find a soluti.

Walmart said: "Marine plastic waste is a global problem that requires collective acti.

Amcor said: “Like the Middle Road Foundation, we are taking action to prevent waste from impacting the environment – ​​including a commitment to make all Amcor packaging recyclable or reusable by 2025, increasing the use of recycling materials, working with others to increase recycling rates global.

Andrew Liveris, former chairman and long-serving executive at The Dow Chemical Company, said: "I've spent my entire career in the plastics value chain, and it seems to me that it's all of us n.

        The initiative is also expected to make a substantial contribution to reducing plastic-induced climate change by around 70%, within the 2050 temperature increase targets set by the global communi.

        Independent auditing and certification of the new system will be key to ensuring open regulation and transparent marke.

The Matilda Foundation has committed, under appropriate conditions1, to cover audit fees for a total of $260 million for five years, plus a $40 million creation f.

The results of audits and certifications are published to a central database, accessible online by anyone around the wor.

        Analytical support was provided by SYSTEMIQ, the world's leading consultancy on environmental issu.

McKinsey & Company also provided research and analytical suppo.

        A new digital and social media campaign, #NOPLASTICWASTE, has been launched concurrently to illustrate the realities of plastic production, highlight the opportunities that exist and inspire public support for the initiati.

        An academic paper published today in the journal Frontiers in Marine Science ([Forrest et al, 2019]) assesses the environmental and economic damage caused by plastic pollution and argues that the problem inherently needs to be addressed by global markets driven interventio.

        "We need the world to treat plastic like any other commodi.

If we remove the price difference between fossil fuel plastic and recycled plastic, we can do that, " Mr Forrest sa.

        "The 'Sea of ​​the Future' initiative will be the catalyst for a shift in the entire economic system from bad plastics that are bad for the environment to recycled plastics that are good for the environme.

The market will take care of the re.

It enables a plastic waste-free The world becomes visib.

"