ESG
What is Social Plastic® and how does it make the world a better place.
“ Shareholders have to seat themselves second to the world” DAVID KATZ
CEO AND FOUNDER, PLASTIC BANK
AFARA and IHS Markit, Google has issued an executive summary, “Closing the Plastics Circularity Gap”, which reported that on average, between 2020- 2040, circular supply chains could produce plastic at a lower cost ($1,122/metric tonne) compared to virgin supply chains ($1,694/metric tonne). Having been in plastics procurement for over 20 years, and having seen with my very eyes the hoards of plastic littering the 112
September 2021
beaches of Thailand, it’s an issue that’s close to heart. And it’s no small problem. According to the report, under a businessas-usual scenario (BAU), recycled plastics reentering the economy are projected to more than triple to 77 million metric tonnes (14%) by 2040, but over the same period, 86% of plastics are projected to be landfilled, incinerated, or leaked into the environment. Without comprehensive and large-scale interventions, we can expect that there will be more plastic than fish in the ocean by 2050. Katz, with his hypnotic tone and passionate stance, was kind enough to spend some moments getting into with me.