Plastic Bank

Last updated
Plastic Bank
Company type Privately held company
IndustryEnvironmentalism
Founded2013, in Vancouver, BC, Canada
FounderDavid Katz and Shaun Frankson
Website plasticbank.com
Plastic Bank Logo.png

Plastic Bank is a for-profit social enterprise founded and based in Vancouver, British Columbia, that builds recycling ecosystems in under-developed communities in an effort to fight both plastic pollution in oceans, as well as high poverty levels in developing countries. [1] [2] The company allows people living in poverty to collect plastic and trade it in for material goods such as school tuition, medical insurance, pharmaceutical access, internet access, and cooking fuel, with the aim of adding more benefits to their program in the future. [1] Plastic Bank reprocesses collected plastics for reintroduction into the supply chain. [3] They currently have operations in the Philippines, Indonesia, Brazil, and Egypt, with plans to expand into Colombia and Vietnam in the coming years [4] [5]

Contents

History

Plastic Bank was started in 2013 by co-founders David Katz and Shaun Frankson. [3] Their idea was to transform plastics into a form of currency for impoverished peoples. [3] [6] Katz initially came up with the idea for their model at an arcade, where people would trade in tickets for prizes. [6] He took this idea to create a system in which that same kind of value would be applied to what people discard, effectively creating a currency, tradable for material goods or services. [6] [7]

Impact

Plastic Bank claims that as of 2020, they have collected over 14,147,000 kg (13,924 long tons; 15,594 short tons) of plastic, [14] through over 21,000 collectors [14] in their 4 countries. The company claims that this figure for plastic is equivalent to over 707,367,900 plastic water bottles, 1.5 million plastic coffee cup lids, and 500 million plastic straws [14]

Plastic Bank has introduced collection bins into school environments to help students practice recycling early on. [14] They also employ “Plastic Bank Ambassadors” to promote environmental education in Haiti [14]

Awards

Related Research Articles

Eastman Chemical Company is an American company primarily involved in the chemical industry. Once a subsidiary of Kodak, today it is an independent global specialty materials company that produces a broad range of advanced materials, chemicals and fibers for everyday purposes. Founded in 1920 and based in Kingsport, Tennessee, the company operates 36 manufacturing sites worldwide and employs approximately 14,000 people.

<span class="mw-page-title-main">Plastic shopping bag</span> Type of shopping bag

Plastic shopping bags, carrier bags, or plastic grocery bags are a type of plastic bag used as shopping bags and made from various kinds of plastic. In use by consumers worldwide since the 1960s, these bags are sometimes called single-use bags, referring to carrying items from a store to a home. However, it is rare for bags to be worn out after single use and in the past some retailers incentivised customers to reuse 'single use' bags by offering loyalty points to those doing so. Even after they are no longer used for shopping, reuse for storage or trash is common, and modern plastic shopping bags are increasingly recyclable or compostable. In recent decades, numerous countries have introduced legislation restricting the provision of plastic bags, in a bid to reduce littering and plastic pollution.

<span class="mw-page-title-main">Plastic recycling</span> Processes which convert waste plastic into new items

Plastic recycling is the processing of plastic waste into other products. Recycling can reduce dependence on landfill, conserve resources and protect the environment from plastic pollution and greenhouse gas emissions. Recycling rates lag those of other recoverable materials, such as aluminium, glass and paper. From the start of production through to 2015, the world produced some 6.3 billion tonnes of plastic waste, only 9% of which has been recycled, and only ~1% has been recycled more than once. Of the remaining waste, 12% was incinerated and 79% either sent to landfill or lost into the environment as pollution.

<span class="mw-page-title-main">Disposable product</span> Product designed to be discarded after use

A disposable is a product designed for a single use after which it is recycled or is disposed as solid waste. The term is also sometimes used for products that may last several months to distinguish from similar products that last indefinitely. The word "disposables" is not to be confused with the word "consumables", which is widely used in the mechanical world. For example, welders consider welding rods, tips, nozzles, gas, etc. to be "consumables", as they last only a certain amount of time before needing to be replaced. Consumables are needed for a process to take place, such as inks for printing and welding rods for welding, while disposable products are items that can be discarded after they become damaged or are no longer useful.

<span class="mw-page-title-main">Biodegradable plastic</span> Plastics that can be decomposed by the action of living organisms

Biodegradable plastics are plastics that can be decomposed by the action of living organisms, usually microbes, into water, carbon dioxide, and biomass. Biodegradable plastics are commonly produced with renewable raw materials, micro-organisms, petrochemicals, or combinations of all three.

<span class="mw-page-title-main">Recycling in the United Kingdom</span>

In 2015, 43.5% of the United Kingdom's municipal waste was recycled, composted or broken down by anaerobic digestion. The majority of recycling undertaken in the United Kingdom is done by statutory authorities, although commercial and industrial waste is chiefly processed by private companies. Local Authorities are responsible for the collection of municipal waste and operate contracts which are usually kerbside collection schemes. The Household Waste Recycling Act 2003 required local authorities in England to provide every household with a separate collection of at least two types of recyclable materials by 2010. Recycling policy is devolved to the administrations of Scotland, Northern Ireland and Wales who set their own targets, but all statistics are reported to Eurostat.

<span class="mw-page-title-main">Waste management in Armenia</span> Waste management history and processes

Armenia is underdeveloped in its waste management and recycling activities.

<span class="mw-page-title-main">Plastic</span> Material of a wide range of synthetic or semi-synthetic organic solids

Plastics are a wide range of synthetic or semi-synthetic materials that use polymers as a main ingredient. Their plasticity makes it possible for plastics to be moulded, extruded or pressed into solid objects of various shapes. This adaptability, plus a wide range of other properties, such as being lightweight, durable, flexible, and inexpensive to produce, has led to its widespread use. Plastics typically are made through human industrial systems. Most modern plastics are derived from fossil fuel-based chemicals like natural gas or petroleum; however, recent industrial methods use variants made from renewable materials, such as corn or cotton derivatives.

Recycling can be carried out on various raw materials. Recycling is an important part of creating more sustainable economies, reducing the cost and environmental impact of raw materials. Not all materials are easily recycled, and processing recyclable into the correct waste stream requires considerable energy. Some particular manufactured goods are not easily separated, unless specially process therefore have unique product-based recycling processes.

Products made from a variety of materials can be recycled using a number of processes.

<span class="mw-page-title-main">Ecobricks</span> Environmentally friendly building method

An ecobrick is a plastic bottle densely packed with used plastic to create a reusable building block that achieves plastic sequestration. These plastic bottles are precisely packed with clean and dry used plastic to avoid the growth of bacteria Ecobricks can be used to produce various items, including furniture, garden walls and other structures. Ecobricks are produced primarily as a means of managing consumed plastic by sequestering it and containing it safely, by terminally reducing the net surface area of the packed plastic to effectively secure the plastic from degrading into toxins and microplastics. Ecobricking is a both an individual and collaborative endeavour. The ecobricking movement promotes the personal ecobricking process as a means to raise awareness of the consequences of consumption and the dangers of plastic. It also promotes the collaborative process as a means to encourage communities to take collective responsibility for their used plastic and to use it to produce a useful product.

<span class="mw-page-title-main">Plastic pollution</span> Accumulation of plastic in natural ecosystems

Plastic pollution is the accumulation of plastic objects and particles in the Earth's environment that adversely affects humans, wildlife and their habitat. Plastics that act as pollutants are categorized by size into micro-, meso-, or macro debris. Plastics are inexpensive and durable, making them very adaptable for different uses; as a result, manufacturers choose to use plastic over other materials. However, the chemical structure of most plastics renders them resistant to many natural processes of degradation and as a result they are slow to degrade. Together, these two factors allow large volumes of plastic to enter the environment as mismanaged waste which persists in the ecosystem and travels throughout food webs.

<span class="mw-page-title-main">MBA Polymers</span>

MBA Polymers is a recycling company with operations globally that recovers plastics from waste electrical and electronic equipment (WEEE) and auto-shredder residue from end-of-life automobiles (ELV).

<span class="mw-page-title-main">Precious Plastic</span> Open hardware plastic recycling project

Precious Plastic is an open hardware plastic recycling project and is a type of open source digital commons project. The project was started in 2013 by Dave Hakkens and is now in its fourth iteration. It relies on a series of machines and tools which grind, melt, and inject recycled plastic, allowing for the creation of new products out of recycled plastic on a small scale.

<span class="mw-page-title-main">Packaging waste</span> Post-use container and packing refuse

Packaging waste, the part of the waste that consists of packaging and packaging material, is a major part of the total global waste, and the major part of the packaging waste consists of single-use plastic food packaging, a hallmark of throwaway culture. Notable examples for which the need for regulation was recognized early, are "containers of liquids for human consumption", i.e. plastic bottles and the like. In Europe, the Germans top the list of packaging waste producers with more than 220 kilos of packaging per capita.

China's waste import ban, instated at the end of 2017, prevented foreign inflows of waste products. Starting in early 2018, the government of China, under Operation National Sword, banned the import of several types of waste, including plastics with a contamination level of above 0.05 percent. The ban has greatly affected recycling industries worldwide, as China had been the world's largest importer of waste plastics and processed hard-to-recycle plastics for other countries, especially in the West.

<span class="mw-page-title-main">Sustainable Development Goal 14</span> 14th of 17 Sustainable Development Goals to conserve life below water

Sustainable Development Goal 14 is about "Life below water" and is one of the 17 Sustainable Development Goals established by the United Nations in 2015. The official wording is to "Conserve and sustainably use the oceans, seas and marine resources for sustainable development". The Goal has ten targets to be achieved by 2030. Progress towards each target is being measured with one indicator each.

<span class="mw-page-title-main">Sustainable Development Goal 12</span> 12th of 17 Sustainable Development Goals to ensure responsible consumption and production

Sustainable Development Goal 12, titled "responsible consumption and production", is one of the 17 Sustainable Development Goals established by the United Nations in 2015. The official wording of SDG 12 is "Ensure sustainable consumption and production patterns". SDG 12 is meant to ensure good use of resources, improve energy efficiency and sustainable infrastructure, provide access to basic services, create green and decent jobs, and ensure a better quality of life for all. SDG 12 has 11 targets to be achieved by at least 2030, and progress towards the targets is measured using 13 indicators.

<span class="mw-page-title-main">Wecyclers</span> A waste management company

Wecyclers is a waste management company in Nigeria that helps low-income communities exchange their recyclable waste which is measured in kilograms for cash and other rewards.

<span class="mw-page-title-main">REDcycle</span>

The RedCycle or REDcycle program was an Australian soft plastic recycling program started in 2010 by RG Programs and Services and suspended in 2022.

References

  1. 1 2 Barbaschow, Asha. "Plastic Bank treating plastic like currency to tackle waste and poverty". ZDNet. Retrieved 2020-09-02.
  2. "The Plastic Bank - Heroes of the Sea". heroesofthesea.com. Retrieved 2020-09-02.
  3. 1 2 3 "What if We Turned Plastic Waste into a Valuable Currency?". Ever Widening Circles. 2019-08-18. Retrieved 2020-09-02.
  4. Tom Page (15 November 2019). "We're throwing away a fortune in plastic every year. This company is cleaning up". CNN. Retrieved 2020-09-02.
  5. "EGYPT: Henkel joins forces with Plastic Bank to recover plastic waste". Afrik 21. 2020-02-19. Retrieved 2020-09-02.
  6. 1 2 3 "Entrepreneur looks to reduce both plastic waste and poverty". plasticstoday.com. 2015-11-20. Retrieved 2020-09-02.
  7. adove (2013-07-12). "Changing plastics into currency". www.royalroads.ca. Retrieved 2020-09-02.
  8. "Peru's Plastic Banks Turn Waste Into Currency". Pop-Up City. Retrieved 2020-09-02.
  9. Diotte-Lyles, Rachel (2019-12-16). "The Plastic Bank". thegrassrootsjournal. Retrieved 2020-09-02.
  10. "The Plastic Bank: Banking what the sea spits back". Project Breakthrough. Retrieved 2020-09-02.
  11. 1 2 3 4 "History". Plastic Bank. Retrieved 2020-09-02.
  12. Henkel. "Transforming waste into opportunity". www.henkel.com. Retrieved 2020-09-02.
  13. Henkel. "Henkel extends partnership with Plastic Bank". www.henkel.com. Retrieved 2020-09-02.
  14. 1 2 3 4 5 "Our Impact | Stop Ocean Plastic & Reduce Poverty with Plastic Bank". Plastic Bank. Retrieved 2020-09-02.
  15. "2019". Prix Voltaire International. Retrieved 2020-09-02.
  16. Aless, About the Author /; Besse', ro du (2019-06-05). "The 2019 Green Awards: Innovation For a Sustainable Future". Impakter. Retrieved 2020-09-02.{{cite web}}: |first1= has generic name (help)
  17. "2019 ENTRIES". SDG Action Awards. Retrieved 2020-09-02.
  18. "2018 Award Winners: Nature Inspiration Awards | Canadian Museum of Nature". www.nature.ca. Retrieved 2020-09-02.
  19. "UN Momentum for Change Award (COP23)". Plastic Bank. 2017-07-18. Retrieved 2020-09-02.
  20. Eco-Business. "Game-changers honoured at Sustainia Awards 2015". Eco-Business. Retrieved 2020-09-02.{{cite web}}: |last= has generic name (help)
  21. "Revealing the Value of People - March 2015 - Entrepreneurs' Organization". www.eonetwork.org. Retrieved 2020-09-02.
  22. rcbc (2010-02-02). "Previous RCBC Award Winners". Recycling Council of British Columbia. Retrieved 2020-09-02.