Today, SYSTEMIQ joins 250 signatories from around the world in endorsing the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment to create a plastic system that works. The commitment is unprecedented in scope, covering the entire industry (producers, brands, retailers, investors, recyclers, etc.), as well as governments, NGOs, and others. It sets out the direction for a new plastics economy based on a common vision, shared definitions, and targets that will be updated regularly, encouraging signatories to take action now.
Fellow signatories include companies representing 20% of all plastic packaging produced globally. Among them are well-known consumer businesses such as Danone; H&M group; L’Oréal; Mars, Incorporated; PepsiCo; The Coca-Cola Company; and Unilever; major packaging producers such as Amcor, plastics producers including Novamont, and resource management specialist Veolia.
Martin Stuchtey, Managing Partner of SYSTEMIQ says “we are proud to endorse the Global Commitment, officially unveiled at the Our Ocean Conference today. And we are proud to have been supporting the New Plastic Economy from day one. The commitments reflect that we have collectively reached a turning point, and that we cannot longer ignore the impending environmental and social crisis that comes with mismanaged plastic waste. There is an alternative vision of a plastic economy that serves consumers, businesses and society at large better. Getting there requires systemic change across the entire value chain – and achieving this lies at the heart of SYSTEMIQ’s mission. As an innovation and investment firm dedicated to the Sustainable Development Goals, we will work harder than ever to make this vision become a reality by 2025 and beyond.”
The New Plastics Economy Global Commitment is led by the Ellen MacArthur Foundation, in collaboration with UN Environment, and will be officially unveiled at the Our Ocean Conference in Bali today (Monday, Oct 29). It sets a new minimum bar in the fight against plastic waste and pollution, encouraging signatories in a race to the top. By joining the Global Commitment, SYSTEMIQ commits to work to eliminate the plastic items we do not need; innovate so all plastic we do need is designed to be safely reused, recycled, or composted; and circulate everything we use to keep it in the economy and out of the environment.
At the heart of the Global Commitment is a vision of a New Plastics Economy, where plastics never become waste. Each signatory formally endorses the vision and the need to work towards achieving it, as defined by six key points:
Elimination of problematic or unnecessary plastic packaging through redesign, innovation, and new delivery models is a priority
Reuse models are applied where relevant, reducing the need for single-use packaging
All plastic packaging is 100% reusable, recyclable, or compostable
All plastic packaging is reused, recycled, or composted in practice
The use of plastics is fully decoupled from the consumption of finite resources
All plastic packaging is free of hazardous chemicals, and the health, safety, and rights of all people involved are respected.
For more information about the New Plastics Economy, please visit: www.newplasticseconomy.org.