With the goal to combat the issue of plastic waste in the environment, the Singapore Chemical Council Limited (SCIC) is heartened by the announcement of the global alliance of companies from the plastics and consumer goods value chain.
The Alliance to End Plastic Waste (AEPW), comprised of nearly 30 member companies – including SCIC members BASF, Chevron Phillips, Dow, ExxonMobil, Henkel and Shell – have committed over US$1 billion with the goal of investing US$1.5 billion over the next five years to help end plastic waste in the environment.
A not-for-profit organisation, the Alliance will develop and bring to scale solutions that will minimize and manage plastic waste and promote solutions for used plastics by helping to enable a circular economy. Working with the World Business Council for Sustainable Development as a founding strategic partner, the Alliance has developed an initial set of projects and collaborations which include collaborating with the United Nations Environment Programme, partnering with cities to design integrated waste management systems and funding the Incubator Network by Circulate Capital.
To further combat the issue of plastic waste, the SCIC is a signatory of the Commitment to the Global Declaration for Solutions on Marine Litter. In line with this declaration, governments, NGOs, researchers and other stakeholders will work to identify and promote preventive measures of marine litter from entering the environment. SCIC has pledged to voluntary commit in adopting additional improvements to reduce the effects of ocean pollution and projects with the relevant stakeholders to achieve this goal.
“Plastics continue to be an important part of our lives. We strongly believe in partnering with our stakeholders to achieve a sustainable outcome in managing plastic waste through the adoption of a circular economy approach,” said Mr Terence Koh, SCIC Executive Director.
For more information on the Alliance, please see the full announcement here and visit https://endplasticwaste.org/.
