The Alliance to End Plastic Waste plans to launch the new Circular Plastic Fund with a private bank to raise $500 million in capital for circular plastic.
Private bank Lombard Odier Investment Managers (LOIM) and the non-governmental organization Alliance to End Plastic Waste announce plans for a fund that will raise capital from institutional and accredited investors for investments in scalable solutions to remove plastic waste from the environment, increase recycling of plastic waste, and promote the global transition to a circular economy for plastics. The Circular Plastic fund is said to aim to deliver positive environmental, social and economic impacts, as well as attractive financial returns. The economic potential of the transition to a circular economy for plastics by 2030 on a global scale is put at $1 trillion by the stakeholders, citing industry estimates. The investor fund will reportedly target key issues that directly promote a plastics circular economy. It is also intended to accelerate the development of potentials in the entire waste management sector (both upstream and downstream). This would include waste collection and sorting infrastructure, technology-supported recycling infrastructure, and concept solutions for increased longevity, reuse and recyclability of plastics. It shall also drive innovations in plastics chemistry and production that can simplify or efficiently realize disposal at the end of the product's life cycle. All of this, he said, requires significant capital investment. Jacob Duer, chairman and CEO of the Alliance to End Plastic Waste, is confident that the fund will meet with strong investor interest and be well received by financial markets. Jim Fitterling, Chairman and CEO of Dow and Chairman of the Alliance, adds, "The systemic change needed to achieve a circular plastic economy requires innovation at the societal, infrastructure and technology levels. This strategy presents a great opportunity to put the plastic waste management ecosystem firmly on the agendas of institutional investors to accelerate the transition to a plastic circular economy worldwide."
For more information: to the Alliance to End Plastic Waste website
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