Switzerland-based packaging producer Amcor has partnered with the Minderoo Foundation Pty Ltd., a philanthropic initiative based in Australia, to launch Sea The Future, a project that will provide investment to build a global network of plastic recycling plants.
According to a news release from Amcor, the first three recycling hubs will be built in Indonesia, the Netherlands and Brazil. Minderoo (STF) plans to begin construction on the first sorting and recycling plants within two years.
The first three recycling hubs aim to unlock about $300 million worth of investment in new plastic recycling plants worldwide, produce about 150,000 metric tons of recycled plastic per year and prevent 200,000 metric tons of plastic waste from being landfilled.
The project has received support from the government of Indonesia and the Port of Rotterdam. Amcor says this project is “designed to close the gap between ambitions for using recycled plastics and the actual supply of high-quality recycled plastics in large volumes.”
“We are committed to solutions that will increase the collecting and recycling of packaging material, which reduce the need for virgin resin while keeping waste out of the environment,” says Peter Konieczny, chief commercial officer at Amcor. “We work with multiple partners across the value chain and are excited to be part of this significant project with Minderoo. We now purchase 86 percent more recycled content than two years ago, and we look forward to this partnership helping us further accelerate our delivery of responsible packaging solutions for customers.”
STF also plans to demonstrate that with the right amount of investment and collaboration across the value chain, the cost of recycled plastic can be reduced.
“We need the world to treat plastic like other commodities. Industry, fully supported by governments and regulators, is the only sector that can drive the urgent, global shift needed to save our oceans,” says Tony Worby, CEO of Minderoo Foundation’s Planet Initiative. “This existential threat requires a global solution able to transcend borders, politics and corporate responsibility. Minderoo studies suggest that we have less than five years to make this happen. Only a broadly adopted, international industry-led approach will keep plastics in the economy and out of the environment. We seek other founding partners from both the consumer goods and petrochemical industries to join this crucial initiative.”
According to Amcor, the company has agreed to sign offtake agreements, which will secure the commercial future of the three recycling hubs. The companies expect to expand the network in other countries.
Amcor and the Minderoo Foundation also welcome additional members to join the Sea the Future Initiative partnership, offering companies from both the consumer goods and petrochemical industries the chance to join as founding members over the coming months.