Plastic Bank empowers ethical recycling in coastal communities and reprocesses the materials into feedstock for reintroduction into the global manufacturing supply chain. Collectors receive bonuses for plastic they exchange at collection centers, which helps them provide basic family necessities and carve a path out of poverty for their families. Plastic Bank's Alchemy™ blockchain platform secures the entire transaction and provides real-time data visualization – allowing for transparency, traceability, and rapid scalability.
“Our partnership with Henkel creates abundance together that serves as a good example of what can be achieved by joining forces. Henkel has supported Plastic Bank with the building of 13 collection centers in Egypt,” said David Katz, Founder & CEO of Plastic Bank.
Henkel also wants to use materials more efficiently, fully convert to sustainable sources and generate less waste. Plastic waste collected is reborn as Social Plastic® and reintegrated into Henkel’s products and packaging as part of a closed-loop supply chain.
In collaboration with Plastic Bank in North America, Henkel’s Dial brand will help save over 30 million plastic bottles from entering the ocean in 2022* and in doing so, support a circular economy.
Circularity is about systemic change
“The circular economy clearly needs to go beyond only finding recycling solutions for post-consumer products. Acknowledging the scope of the pollution problem, society’s collective ability to solve the problem and the unique role that plastics makers play creates a pathway to achieving the outcome we desire.
Our industry excels at taking good solutions and scaling them up – and that’s what’s happening now with solutions propelled by Plastic Bank and the ambitions set forward through our collaboration with Henkel. We can solve this problem in our lifetime, where plastics circularity becomes the norm,” said Katz.
Plastic waste continues to be an increasing issue around the globe, in and outside the ocean.
Partnership drives long-term value
Long-term value is created by focusing on a broad set of stakeholders, with a distinct purpose in mind, to sustain a solution for the long term.
“Partnerships are core to our model and long-term success. We’ve found that global challenges like plastic waste cannot be accomplished without the support, resources and knowledge of organizations like Henkel,” said Katz.
“Today, societies demand greater responsibility from the organizations they work for, buy from and invest in,” said Dellis.
“We can only begin to see real change when we strive to bring it to life, more than merely talking about it. We strongly believe that long-term solutions and programs with dedicated partners like Henkel are the key to revealing value in waste and empowering a regenerative society. Our partnership remains vitally important as consumers increasingly look for brands that help them protect their environment and our collective future,” said Katz.
The Plastic Bank is creating a supply chain of social material that can be used for good throughout the world. The private partnership with Henkel creates abundance together.
1Excluding products where ingredients or residue may affect recyclability or pollute recycling streams.
*Projected based on shipments over the 52-week period ending 9/1/21.