An alliance of global companies from the plastics and consumer goods value chain launched a new organization on Wednesday to advance solutions to eliminate plastic waste in the environment, especially in the ocean.
The cross-value chain Alliance to End Plastic Waste (AEPW), which currently consists of 28 member companies including energy giants such as Total, Shell and ExxonMobil, has committed over $1 billion to help end plastic waste in the environment and enable a circular economy, according to a press release.
80 PERCENT OF PLASTIC WASTE IN THE OCEAN BEGINS AS LITTER ON LAND
The not-for-profit organization, which has been working with the World Business Council for Sustainable Development as a founding strategic partner, aims to invest $1.5 billion over the next five years. The alliance will make investments and drive progress in four key areas: Infrastructure development to collect and manage waste and increase recycling.
Clean-up of concentrated areas of plastic waste already in the environment, particularly the major conduits of waste, like rivers, that carry land-based plastic waste to the sea
According to the statement, research from the Ocean Conservancy shows that nearly 80 percent of plastic waste in the ocean begins as litter on land, the vast majority of which travels to the sea by rivers.
“In fact, a study estimates that over 90 percent of river-borne plastic in the ocean comes from 10 major rivers around the world – eight in Asia, and two in Africa. Sixty percent of plastic waste in the ocean can be sourced to five countries in Southeast Asia,” it said.