Plastics For Change Boosts Recycling Through Major Investment

SEATTLE (Scrap Monster):  The India-based Plastics for Change (PFC) announced that it has received a funding of $2 million from an affiliate of Natixis Investment Managers based in France.

The investment is likely to boost the collection and recycling of plastics through expansion of its business model to cover more areas. It must be noted that the program involves participation of coastal villagers, who are paid fair prices for the plastic scrap materials collected by them. In addition, the funding will also support efforts to recover the sector as a whole and hundreds of thousands of informal waste workers, who have been badly hit by the coronavirus pandemic.

The organization will expand its program, which focuses on efforts to prevent plastic waste from entering waterways, to more number of coastal communities within India as well as in neighbouring countries. The investment will also ensure easy access of high-quality recycled plastic material from supply chains to leading brand owners and manufacturers.

Andrew Almack, founder and CEO, PFC noted that the investment will lead to positive change for the planet, people and the entire plastics industry chain. The platform, built on transparency and accountability through the supply chain, will enable industry partners to achieve their recycling goals, he added.

YOU MAY ALSO BE INTERESTED IN:

Harmful Impacts of Imported Plastic Waste in Malaysia

Nova Chemicals and Enerkem Collaborate to Close the Loop on Plastics Recycling