Key Points
According to the OECD, 91% of all plastic used goes unrecycled into nature, oceans, landfill or incineration every year thats 320 million tons..
By 2060, there will be an additional 30 billion tons..
For example, a substantial portion of Europes plastic recycling capacity has disappeared in the past two years due to unsustainable trading conditions brought on by the drop in the price of oil..
Plastic Collective, the World Bank and Citibank have spent many years developing a scalable financing mechanism to directly address the capitalization of plastic recycling in countries where plastic waste is at its worst and finance options are few..
The two projects will use the funds to invest in new technologies, equipment, facilities and staff to increase their collection and recycling capacity by 500% over the next three years and process an additional 250,000 tons of plastic waste over the next 10 years...
