New Zealand has today signed an international declaration to cut plastic waste from our economy and environment.
The New Plastics Economy Global Commitment focuses on addressing the root causes of plastic waste and pollution by looking at the whole system of how plastic is imported, produced and used. It is a commitment to a ‘circular economy’ approach to plastics, where ultimately plastics never becomes waste.
So far 250 organisations have signed the global declaration – including many of the world’s largest packaging producers, brands, retailers and recyclers. More than 15 financial institutions with in excess of $2.5 trillion in assets under management have also endorsed the global commitment and over $200 million has been pledged by five venture capital funds to create a circular economy for plastic.
The New Plastics Economy Global Commitment is an initiative led by the Ellen MacArthur Foundation and UN Environment.
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