New circular fund targeting plastic waste aims to raise $500m

The Alliance to End Plastic Waste said the fund will help remove plastic waste from the environment, increase recycling and drive the global transition towards a circular economy for the plastic value chain

Plans to launch a new circular plastic fund that aims to raise $500 million (£404m) from institutional and other investors for scalable solutions targeting plastic waste has been announced.

The Alliance to End Plastic Waste and Lombard Odier Investment Managers (LOIM) have teamed up for the fund to help remove plastic waste from the environment, increase recycling and drive the global transition towards a circular economy for the plastic value chain.

According to industry estimates, the transition to a circular value chain for plastic packaging represents a potential $1 trillion (£0.8tn) global economic opportunity by 2030.

The fund aims to target key themes that can directly contribute to a circular economy for plastic and accelerate opportunities in overall waste management, including collection and sorting infrastructure, technology-enabled recycling infrastructure, design solutions for improved plastic durability, reuse and recyclability.

It will also aim to drive innovation in plastic chemistry and production that can simplify or make end of life treatment easier or more effective.

According to the Alliance, only 9% of the world’s plastic is recycled.

Jacob Duer, President and CEO of the Alliance said: “Our goal in partnering with Lombard Odier in relation to a circular plastic strategy is to grow investments in solutions that can help end plastic waste and contribute to a circular economy. The strategy harnesses the collective intelligence of the plastic value chain and connects it with capital, bringing much needed solutions to scale.

“I am confident this will help focus financial market attention on the investment opportunity that plastic circularity represents, and help to catalyse multiple sources of financing for investments in circular solutions for plastic waste.”

Make sure you check out the latest Net Hero Podcast episode:

Latest Podcast