PLASTIC BANK
About the Innovator.
Plastic Bank® empowers the regenerative society. We are helping the world stop ocean plastic while improving the lives of collector communities. Plastic Bank builds ethical recycling ecosystems in coastal communities and reprocesses the materials for reintroduction into the global manufacturing supply chain.
Collectors receive a premium for the materials they collect which helps them provide basic family necessities such as groceries, cooking fuel, school tuition, and health insurance. Plastic Bank’s proprietary blockchain platform secures the entire transaction and provides real-time data visualization – allowing for transparency, traceability, and rapid scalability. The collected material is reborn as Social Plastic® which can be easily reintegrated into products and packaging as part of a closed-loop supply chain. Plastic Bank currently operates in Haiti, Brazil, Indonesia, the Philippines, and Egypt.
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About the Innovation.
Innovation in END-OF-USE.
When it comes to sustainability, impact speaks louder than words.
Introducing Social Plastic®: ocean bound plastic that's regenerated into environmental, social, and economic impact. Plastic Bank is doing this by building recycling ecosystems in coastal communities where collectors receive a premium for the materials they collect. This helps them provide basic family necessities such as groceries, cooking fuel, school tuition, and health insurance.
The collected material is reborn as Social Plastic® which can be easily reintegrated into products and packaging as part of a closed-loop supply chain.
Social Plastic® delivers impact across environmental, social, and economic areas:
Environmental Impact: Social Plastic® has prevented over 13,000,000 kg of plastic from entering the ocean. - Social Plastic® is preventing over 54,000,000 single use plastic bottles from entering the ocean every month.
Social Impact: Social Plastic® supports school tuition for children in Haiti, Indonesia, and the Philippines. - Social Plastic® provides basic family necessities such as groceries, cooking, fuel, school tuition, and health insurance.
Economic Impact: Social Plastic® increases collector incomes by up to 60%.
“I am most excited about the summit's ability to go beyond discussion to making real impact.”
— Saleem Ahamed, Chief Marketing Officer, Plastic Bank