Nov 13, 2018
“We must turn off the faucet and continue to monetize waste, so it’s never discarded”
To do this, The Plastic Bank is expanding into Brazil, Ethiopia, and Philippines, and soon to Indonesia and India. We invite corporations to purchase the Social Plastic® or purchase plastic offset. The increased value of Social Plastic® benefits the collectors. With about 10% of the world population living on less than $1.90 a day, there is still much work to do to reduce global poverty.
The Plastic Bank is creating a supply chain of social material that can be used for good throughout the world. But it’s our private partnership with Henkel to create abundance together that we’re most excited about because it is a good example of what can be achieved by joining forces.
As a result of our partnership, thousands of kilos of plastic will be extracted from the environment. The price increase for Social Plastic® will be passed on to those most vulnerable: Haitian mothers will benefit most including their children who can go to school or see a doctor.
We know that the shared experience of working together in Haiti will further our bond as we all steward the earth, its ocean and its people.
About The Plastic Bank
The Plastic Bank ecosystem reveals the value in waste and offers a business solution to poverty, with blockchain technology to collect and exchange plastic in developing countries. IBM architected our proprietary blockchain application to ensure our social and environmental impact is authentic and transparent. The app gamifies the collection and exchange of plastic for incentives. We also create a supply of ethically-sourced Social Plastic® for multinational corporations to use as feedstock in manufacturing. The Plastic Bank is selling Social Plastic® to Shell Oil, Marks & Spencer, and Henkel, and continues to build partnerships with other Fortune 500 brands. Our goal is to gather 1 billion people together to monetize waste by 2030.