New Plastics Economy Global Commitment
On Sunday October 28, 2018 at the “Our Oceans” conference in Bali, 275 brands, retailers, recyclers and governments collaborated on the “New Plastics Economy” Global commitment. Of significance is the fact that the 275 signatories are collectively responsible for producing twenty percent of all plastic packaging globally. The New Plastics Economy is being toted as the “largest unified approach to tackling plastic pollution”.
The pledge of the global commitment is to eradicate plastic waste and pollution as we head toward a circular economy. The Signatories include such high profile companies as Coca Cola, Burberry, Colgate-Palmolive. Retailers including Walmart, Target and Marks and Spencer, and Governments including Chili, France and the United Kingdom.
This agreement is significant because it requires transparency from the signatories in the form of published annual data on progress. Set measurable individual targets with varying degrees of ambition will be reviewed every 18 months and emphasis will be placed on increasing target levels over time. The agreement creates a shared vision of success among the signatories through commitments not only to future efforts, as with previous agreements, but to measurable action as well.
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