As usual I have been engaging in trawling the internet for interesting articles and news. I found this interesting report cowritten by the WEF and McKinsey in the lower depths of Reddit that highlighted that by 2050 oceans are expected to contain more plastics than fish (by weight). So I got curious to learn more…
“About 95% of plastic packaging material value, or USD 80–120 billion annually, is lost to the economy after a short first-use cycle. This indicates a significant economic opportunity” – THE NEW PLASTICS ECONOMY
This report is an excellent next step, offering a root-cause solution to the problem of ocean plastics as part of a broader rethink and new approach to capture value in the New Plastics Economy. The economic and environmental case is now clear — I therefore call on governments and businesses alike to take urgent action to capture the opportunity.’
There may be a point soon where there will be more things (by tonnage) floating on the ocean than things living in it.
Sounds like a certain, very Social Plastic has had the right idea.
But this brings us to another point, what is innovation and where should it occur? Then again the reply to the last question is dead simple. Innovation can and should happen absolutely anywhere and everywhere!
Consider the way that Plastic Bank’s social plastic is able to prevent plastic waste outflow by empowering entrepreneurs to be able to collect what was once waste by creating a supply and demand relationship. We must also recognize the brands and companies that buy this plastic such as LUSH Fresh Handmade Cosmetics. These are the relations that have to be built in order to reduce waste, by creating an opportunity cost and making the sustainable choice the easy one.
There are some companies that are showing that they care about their brands, like Unilever
2 thoughts on “Plastic Bank, the New Plastics Economy, from waste to want”
Great find (the WEF report on the new plastics economy), Yajur. I agree that companies like PlasticBank are thinking the right way about how to change the system. What are your ideas for how we can better connect companies like PlasticBank with more companies like LUSH (and motivate more companies to source recycled plastic like LUSH)?
I was also very interested in the the company (PlasticBank) but did not look further into the ocean plastic problem. I was mainly interested because the company had such a strongly integrated social business model while having a product that can compete head to head with the traditional products. On top of this, now that you mention the economic opportunity of the whole situation, this company seems to have a promising future. I wonder, if different parties join to tackle the ocean plastic problem, such as environmental groups and other larger corporations, do you think there would be a “war” for the plastics down the road?
Great find (the WEF report on the new plastics economy), Yajur. I agree that companies like PlasticBank are thinking the right way about how to change the system. What are your ideas for how we can better connect companies like PlasticBank with more companies like LUSH (and motivate more companies to source recycled plastic like LUSH)?
I was also very interested in the the company (PlasticBank) but did not look further into the ocean plastic problem. I was mainly interested because the company had such a strongly integrated social business model while having a product that can compete head to head with the traditional products. On top of this, now that you mention the economic opportunity of the whole situation, this company seems to have a promising future. I wonder, if different parties join to tackle the ocean plastic problem, such as environmental groups and other larger corporations, do you think there would be a “war” for the plastics down the road?