Saturday, January 27, 2018

Economic solution to ocean plastic that helps the very poor

Most of the ocean plastic enters the ocean through the poorest countries. If you're desperately poor, you can't be bothered with recycling even if it existed in your community. But what if that plastic 'trash' had an accessible market, a value that could easily be exchanged for cash?

The Plastic Bank makes it possible for poor people in underdeveloped countries bring in plastic and get a credit in their account which can then be used to pay for tuition or purchase needed supplies. They've created demand for this 'social plastic' to be used in manufacturing. People in parts of the developed world can apply their bottle deposit toward supporting this program for the poor. This approach helps close the loop (Circular Economy) and provides an easy way for the desperately poor to gain income. Best of all, they're scaling up around the world.

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