Page 32 - Plastics News February 2019

internAtionAL news

Fresh funds to help clean up ocean plastics in Asia

lobal Investors are becoming increasingly aware of the improve the plastic industry’s circularity, beginning in five
Genormous environmental and social problems created countries – India, Indonesia, the Philippines, Thailand and
by the accumulated 150 million tons of plastic waste in Vietnam – some of which have been replacing China as
the world’s oceans, a volume that grows by some 8 million the world’s dumping ground for solid recyclable waste.
tons every year. The proliferation of photos of dead sea The Incubator Network is partnered with the Ocean
animals and birds, their bellies stuffed with plastic bits, Conservancy and, separate from the AEPW’s infusion,
and tourist beaches populated by more plastic bags than expects to receive USD 90 million from initial investors
people illustrates the issue. With their growing awareness including PepsiCo, Procter & Gamble, Dow, Danone,
of the ocean plastic pollution problem, investors are also Unilever and the Coca-Cola Company.

ECHA proposing a ban on
microplastic particles

he European Chemicals Agency ECHA is proposing a
Tban on microplastic particles that are intentionally
added to mixtures used by consumers or professionals.
The restruction proposal covers a wide range of uses
in consumer and professional products in multiple
seeing the potential for returns for contributing to the sectors, including cosmetic products, detergents and
massive efforts needed to deal with the issue. In January, maintenance products, paints and coatings, construction
some 30 major global companies created the Alliance to materials and medicinal
End Plastic Waste (AEPW), committing more than USD 1 products, as well as
billion in investment over the coming five years to tackle various products used
this issue in one of the most comprehensive and well- in agriculture and
funded efforts to date. AEPW members include private horticulture and in the
sector companies that make, use, sell, process, collect oil and gas sectors. If
and recycle plastic products. Global components of its adopted, the restriction
strategy include partnering with cities on integrated could reduce the
waste management programs and collaborating with amount of microplastics
the UN and other agencies to host workshops on good released to the environment in the EU by about
governance.But it has an initial focus is on South and 400 thousand metric tons during the next 20 years.
Southeast Asian countries, where the ocean plastic waste The agency assessed the health and environmental
problem is especially acute, accounting for about half of risks posed by intentionally added microplastics
the plastic that flows into oceans annually. and concluded that an EU-wide restriction would be
This focus is seen through AEPW’s investment of USD justified.ECHA’s assessment found that intentionally
10 million in a new initiative of impact investment added microplastics are most likely to accumulate on
management firm Circulate Capital and innovation land, as the particles concentrate in sewage sludge
agency Second Muse that supports waste management that is frequently applied as fertilizer. A much smaller
technologies and start-up entrepreneurs. The initiative, proportion of these microplastics is released directly
called the Incubator Network, is designed to help to waterways. Once released, they can be extremely
coordinate work of several existing efforts towards persistent in the environment, lasting thousands of
achieving similar plastic waste reduction goals. The years, and practically impossible to remove. Due to their
Incubator Network is a targeted initiative within Circulate small size, microplastics and nanoplastics created from
Capital’s broader goals to move plastic waste out of the further degradation of microplastics may be readily
the environment and into the recycling value chain and ingested and thereby enter the food chain.

Plastics News Februar y 2019 32