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International investors set demands on plastic packaging
Amsterdam, 23 July 2018 – On the initiative of As You Sow, 25 international investors have united in the Plastic Solutions Investor Alliance. As You Sow is an American non-profit that encourages multinationals to become more sustainable.
The investors, with joint assets worth 1 billion dollars, have agreed to start a dialogue with multinationals that use a lot of single-use plastic packaging. These companies, that include Nestlé, Pepsi-Cola, Procter & Gamble and Unilever, must take responsibility to avoid further plastic pollution. The statement emphasises the following criteria.
- All plastic packaging must be recyclable, reusable or compostable.
- An annual report on the total plastic usage must be issued.
- Alternative packaging must be developed, especially for single-use plastics.
- Producers must take full responsibility. They must finance and facilitate collection and recycling in the markets in which they operate.
- They must support government initiatives to reduce plastic.
- They must expedite technological innovations.
The statement, one of the signatories of which is Robeco, complements the worldwide sustainability goals. The Plastic Solutions Investor Alliance ups the pressure on these companies to come up with real solutions.
Maria Westerbos, Director of the Plastic Soup Foundation says that “Setting requirements on financing capital is an important way to force companies to help reduce the plastic soup. Hopefully it will not take too long before international banks will also uphold ‘plastic soup’ criteria in their loans to multinationals.”
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