Page 42 - Plastics Nuews October 2017

INTERNATIoNAL NEWS

Groups unveil $150 million investment fund to fight plastic ocean

pollution

he environmental group Ocean Conservancy and the Through this initiative, we will invest in and support the
Tplastics and consumer products industries unveiled municipalities, entrepreneurs, investors and NGOs working
plans Oct. 4 for a $150 million investment fund to target to reduce ocean plastics and improve waste management
plastic marine litter in Southeast Asia, one of the world's in Southeast Asia," said Rob Kaplan, managing director of
hotspots for such pollution. The Asian fund aims to Closed Loop Partners. Several large plastics companies and
replicate what the social investment group Closed Loop groups, including DowDuPont, Amcor Ltd., Dart Container
Partners has done in North America, where it raised and ACC, are part of the Ocean Conservancy's Trash Free
$100 million from retailers and brand owners to help Seas Alliance.
finance recycling operations. Under this new initiative,
announced at the Our Ocean 2017 conference in Malta,
CLP will set up a similar fund for Southeast Asia. The effort
is targeting Southeast Asia because they say half of the SUMAN PLASTIC

WORK'S

Moti Nagar, Baba Gajja Jain Colony, Ludhiana-141009
RAKESH KUMAR
MOBILE NO. 09872420654
Email id: meerasuman@gmail.com
estimated 8 million metric tons of plastics waste that flows
into the oceans each year comes from Asia, particularly
from Indonesia, the Philippines, Vietnam and Thailand, DETAIL OF MACHINERY FOR SALE
countries with long coastlines and less-developed waste • Flexo 32” Four colors make LAPRA & Co, Delhi
collection. "Our research has found that by improving with 12 Sets of cylinders in good condition.
waste management in Southeast Asian countries, we
can cut the flow of plastic going in the ocean by half by • P.P. 65mm Make MOHINDRA PLASTIC LDH
2025," said Susan Ruffo, managing director of international with 12 sets of sizes, A.C Derive & Motors.
initiatives at the Washington-based Ocean Conservancy. • L. D Extruder 55mm Mono layer with Revolving
Ruffo said it's a long-term project, with the groups hoping Die make KALIMATA BOMBAY, A.C Derive
to have the investment fund fully operational in three to Motor.
five years. She said she could not make announcements • Foam/L.D Extruder 55mm with Revolving Die
now about where the $150 million would come from. Make Rajoo Engg Works Rajkot A.C Derive
Steve Russell, vice president of plastics at the American Motor
Chemistry Council, said plastics materials companies are • H.M 55mm Extruder make HYKON Kirti Nagar
evaluating contributing to that $150 million. New Delhi. A.C Derive & Motor
ACC and the World Plastics Council have already • Zing chang zipper new almost cutting machine
contributed money, along with other groups, to fully fund make CHINA - Almost New Machine
the initial start-up phase for the Closed Loop Partners • Offset 16”x22” size Two Machines make Sahil
work in Southeast Asia, he said. PepsiCo, 3M and Procter graphics Faridabad.one Machine almost New
& Gamble also are part of the Asia project. Russell said and 2nd is four years old.
the plastics industry sees potential in applying that Closed
Loop model in Southeast Asia to build collection, sortation Note: These all machines are currently in
and reprocessing capabilities for handling plastic waste. running conditions

Plastics News | Octob er 2017 42