A Global Commitment to eliminate plastic waste and pollution at the source has been signed by 290+ organisations, representing 20% of all plastic packaging produced globally. The Commitment was officially unveiled by Ellen MacArthur at the Our Ocean Conference in Bali.
The New Plastics Economy Global Commitment is led by the Ellen MacArthur Foundation, in collaboration with UN Environment, and is signed by many of the worlds largest packaging producers, brands, retailers and recyclers, as well as governments and NGOs. Signatories include: well-known consumer businesses such as Danone, H&M Group, L’Oreal, Mars, Incorporated, PepsiCo, The Coca-Cola Company, and Unilever; major packing producers such as Amcor; plastics producers including Novamont; and resource management specialist Veolia.
The Global Commitment aims to create ‘a new normal’ for plastic packaging. Targets will be reviewed every 18 months, and become increasingly ambitious over the coming years. Businesses that sign the commitment will publish annual data on their progress to help drive momentum and ensure transparency.
The Global Commitment and its vision for a circular economy for plastic are supported by the World Wide Fund for Nature (WWF), and have been endorsed by the World Economic Forum, The Consumer Goods Forum (a CEO-led organisation representing some 400 retailers and manufacturers from 70 countries), and 40 universities, institutions and academics. More than fifteen financial institutions with in excess of $2.5 trillion in assets under management have also endorsed the Global Commitment and over $200 million has been pledged by five venture capital funds to create a circular economy for plastic.
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