January 17, 2019
Sumitomo Chemical has joined the Alliance to End Plastic Waste (“AEPW”) as one of the founding members. AEPW is a new alliance of global companies formed to advance solutions to eliminate plastic waste in the environment, especially in the ocean.
AEPW, launched on January 16, 2019, is a not-for-profit organization composed of global companies across the entire spectrum of industries associated with plastics lifecycle, from production through waste processing. It currently comprises nearly thirty companies in North and South America, Europe, Asia, Southeast Asia, Africa and the Arabian Gulf. Given that plastics are useful materials widely used in every part of modern life, AEPW will undertake a number of initiatives, in collaboration with global organizations such as the World Business Council for Sustainable Development*, to minimize and manage plastic waste in the environment, with the goal of investing $1.5 billion over the next 5 years mainly in the following four key areas.
Four Key Areas where AEPW pursues solutions
- Infrastructure development to collect and manage waste and increase recycling;
- Innovation to advance and scale new technologies that make recycling and recovering plastics easier and create value from all post-use plastics;
- Education and engagement of governments, businesses, and communities to mobilize action; and,
- Clean up of concentrated areas of plastic waste already in the environment, particularly the major conduits of waste, like rivers, that carry land-based plastic waste to the sea.
Sumitomo Chemical believes that one of the greatest challenges facing our society is growing environmental risks resulting from plastic waste. With this concern always in the back of our mind, the Company has been taking part in an array of initiatives both in Japan and abroad, those promoted by the Japan Initiative for Marine Environment in Japan and by the Chemical Policy & Health Leadership Group of the International Council of Chemical Associations worldwide. Sumitomo Chemical’s participation in AEPW will prompt the Company to further accelerate its efforts to help end plastics waste in cooperation with other participating companies that share the same aspirations.
Sumitomo Chemical embraces a business philosophy of « working to contribute to society through our business activities. » The Company will continue to actively engage in helping solve societal concerns through offering innovative technologies and products.
* A global, CEO-led organization of over 200 leading businesses to accelerate the transition to a sustainable world.
AEPW issued a press release in London on January 16, 2019.