CAPTION: The projects funding is going toward projects related to the recycling, reuse and collection of plastic waste. (picture alliance/Stefan Sauer/dpa/archive)
Around 30 global corporations are coming together to tackle the issue of plastic waste in the environment. On Wednesday, the companies from the chemical, plastics, consumer goods and waste industries founded an alliance in London that aims to invest around 1.5 billion dollars by 2024.
The aim is to develop solutions and technologies that can stop the uncontrolled dumping of plastics, for example into the sea, explained the German Chemical Industry Association (VCI) in Frankfurt.
The funding from the "Alliance to End Plastic Waste" will go toward projects related to the recycling, reuse and collection of plastic waste. "Plastics are very efficient, versatile and resource-saving materials," said VCI President Hans Van Bylen. However, they should not end up in the environment as waste, he said. The alliance includes the energy giants Shell and Total, the consumer goods group Procter & Gamble and the German companies BASF, Covestro and Henkel.
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