Global alliance of companies to eliminate plastic waste launched

Several organisations Wednesday launched a new firm to improve ways to eliminate plastic waste in the environment, especially in the water bodies.

The cross value chain Alliance to End Plastic Waste (AEPW), currently made up of nearly 30 member companies, has committed over USD 1.0 billion with the goal of investing USD 1.5 billion over the next five years to help end plastic waste in the environment, according to a joint statement.

The global companies alliance will develop and bring to scale solutions that will minimise and manage plastic waste and promote solutions for used plastics by helping to enable a circular economy, it said.

"Everyone agrees that plastic waste does not belong in our oceans or anywhere in the environment. This is a complex and serious global challenge that calls for swift action and strong leadership. This new alliance is the most comprehensive effort to date to end plastic waste in the environment," said David Taylor, Chairman of the Board, President and CEO