Loop Industries endorses New Plastics Economy Global Commitment

circular economy conceptHelping to keep all plastic in the economy and “out of nature” is the goal of Loop Industries Inc. (Montreal, QC, Canada), a technology innovator in sustainable plastics. The company announced on Oct. 29 that it has joined leading global consumer brands, including PepsiCo, Danone, Coca-Cola, Unilever, L’Oreal and others, in signing the New Plastics Economy Global Commitment developed by the Ellen MacArthur Foundation in collaboration with United Nations Environment.

The commitment was officially unveiled at the Our Ocean Conference in Bali, on Monday, Oct. 29. At its heart is a vision of a new economy where plastics never become waste—a circular approach to create a “new normal” for plastic packaging. (The specific targets that signatories to the commitment have agreed to meet are described in “Business titans commit to elimination of plastic packaging waste by 2025.”)

“We are proud to sign the New Plastics Economy Global Commitment,” said Daniel Solomita, founder and CEO of Loop Industries. “Joining leading companies from around the world by supporting and activating the commitment fuels our goal to accelerate the world’s shift toward sustainable plastic and away from the traditional take, make and dispose economy. It is inspiring to be part of this transition to a circular plastic economy.” 

The commitment and its vision for a circular economy for plastic is supported by almost 300 organizations that are “drawing a line in the sand.” They include many of the world’s largest packaging producers, brands, retailers and recyclers, as well as governments, NGOs and academics. More than 15 financial institutions with in excess of $2.5 trillion in assets under management have also endorsed the global commitment and over $200 million has been pledged by five venture capital funds to create a circular economy for plastic.

Montréal becomes the epicenter of all things plastic, when Expoplast returns to the Palais des congrès on Nov. 14 and 15, 2018. Hundreds of exhibitors and dozens of informative panel discussions and presentations await. Go to the Expoplast website for more information and to register to attend.

As the demand for sustainable packaging solutions continues to grow, Loop Industries has developed what it describes as a transformational technology that allows no- and low-value plastics to be diverted, recovered and recycled endlessly into virgin-quality Loop PET plastic. This innovation allows plastic bottles and packaging of any color, transparency or condition; carpet, clothing and other polyester textiles that may contain colors, dyes or additives; and even ocean plastics that have been degraded by sun and salt to meet FDA requirements for use in food-grade packaging, explained Loop Industries.

Loop Industries’ technology decouples plastic from fossil fuels by depolymerizing waste polyester plastic into its base building blocks (monomers), which are then re-polymerized to create virgin-quality polyester plastics.

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