Leading CPG companies form the New Plastics Economy Global Commitment to reduce plastic packaging
All 107 consumer packaged goods, retail and packaging producing signatories are committed to making 100% of their plastic packaging reusable, recyclable or compostable by 2025.
Thirty-one companies revealed how much plastic packaging they create as part of a drive for transparency by the Ellen MacArthur Foundation, UK. And, all 107 consumer packaged goods, retail and packaging producing signatories are committed to making 100% of their plastic packaging reusable, recyclable or compostable by 2025.
The New Plastics Economy Global Commitment unites businesses, governments and other organizations behind a common vision and targets to address plastic waste and pollution at its source. Led by the Ellen MacArthur Foundation in collaboration with UN Environment, the global commitment already unites more than 350 organizations on its common vision of a circular economy for plastics, keeping plastics in the economy and out of the ocean.
• More than 150 businesses across all steps of the plastic packaging value chain, jointly representing over 20% of all plastic packaging used globally, including many of the world’s leading consumer packaged goods companies, retailers and plastic packaging producers.
• 16 governments across five continents and across national, regional and city level.
• 26 financial institutions with a combined $4.2 trillion worth of assets under management and six investors in total committing to invest about $275 million.
• Leading institutions such as World Wildlife Fund (WWF), Switzerland; the World Economic Forum, Switzerland; the Consumer Goods Forum, Washington, D.C.; and IUCN, Switzerland.
• More than 50 academics, universities and other educational or research organizations, including MIT Environmental Solutions Initiative, Cambridge, Mass.; Michigan State University, East Lansing, Mich.; and University College London.