Stopping Ocean Plastic
An Award Winning Solution
Plastic Bank directly contributes to 14 of the 17 United Nations Sustainable Development Goals, while indirectly supporting the remaining three.
1. No Poverty: Collectors receive a fair & stable income for the plastic they collect. Plastic Bank pays additional incentives, called Social Plastic Collector Rewards, to further improve quality of life and access to life necessities. Collector Rewards are partially funded through our Plastic Neutral programs for businesses and individuals.
2. Zero Hunger: Among other goods, Social Plastic Collection Centres offer fresh food in exchange for collected plastic. Most of this food is locally sourced and carries high nutritional value.
3. Good Health & Well-Being: Depending on location, Collectors can redeem plastic for first aid kits, health insurance, or other health needs. Additionally, removing plastic from water supplies and reducing the amount of incinerated material helps to create cleaner living environments.
4. Quality Education: Through our special programs with partnered primary schools in Haiti (and eventually in all operating locations), Collectors can use plastic to pay for their child’s tuition. Our zero-tolerance policy on child labour is supported by our commitment to keep children in school.
The Plastic Bank provides a consistent, above-market rate for plastic waste, thus incentivizing its collection. Individuals who gather our plastic can trade it for money, items or services.
The value of Social Plastic® goes beyond the commodity price of plastic: a ladder of opportunity is created for the world’s poor by providing access to income, goods and services, and plastic is kept out of the ocean.
6. Clean Water and Sanitation: Collectors can exchange plastic for clean drinking water at Collection Centres. Our corporate partners help to provide soap, shampoo, feminine hygiene, and other sanitation products to our Collector communities. Furthermore, the removal of plastic from waterways reduces the toxicity of local water supplies.
7. Affordable and Clean Energy: Many Collection Centres are designed to be 100% solar-powered and act as a source of renewable energy for their local community. Collectors can exchange plastic for portable solar-powered lamps, which double as battery packs that can charge phones and other electronics.
8: Decent work and Economic Growth: The Social Plastic model drives widespread growth across regional industries. Plastic Bank seeks local partners to transport, process, and ship Social Plastic in an effort to inject maximum value into the local economy. Increased incomes in Collector communities cascades into GDP growth in consumer markets. In terms of decent work, Plastic Bank enforces strict policies to uphold the UN-defined declarations on labour rights and human rights, and only works with partners who are similarly committed to these values.
9. Industry Innovation and Infrastructure : In regions that lack integrated disposal infrastructure, Plastic Bank constructs Collection Centres and connects local transporters, plastic processors, freighters, and other industry members to create a circular recycling industry. From an innovation perspective, our award-winning transaction platform—the Plastic Bank app—is the world’s first to use blockchain-based technologies like Smart Contracts to create an infinitely scalable, decentralized, and autonomous banking system.
HOW SOCIAL PLASTIC RECYCLING WORKS IN HATI (2 mins)
10. Reduced Inequalities: Low barriers to entry allow any adult in need to participate in Social Plastic Ecosystems. Using our revolutionary blockchain-based platform, Collectors are able to open a secure digital banking account—often the first bank account in their lifetime—with which they can hold assets without fear of corruption or theft. This level of financial inclusion is key to bridging the gap between the developed world and the impoverished.
11. Sustainable cities and communities: Social Plastic Ecosystems introduce sustainable, circular economies to replace the linear, wasteful models currently in place in developing regions. Redefining the waste strategies of these communities is key to unlocking other forms of sustainable development.
12. Responsible consumption and production: Social Plastic is incorporated into the supply chains of multinational companies to reduce the demand for virgin plastic and alleviate the environmental effects related to plastic production. Consumers can identify the Social Plastic logo on product packaging to help guide their responsible consumption choices
13. Climate Action: Virgin plastic production and waste plastic incineration contribute greatly to greenhouse gas emissions. Both of these practices are projected to grow alongside the demand for plastic material. Replacing virgin material with Social Plastic and reducing the need for incineration through the circular economy model is pertinent to reversing these effects.
14. Life Below Water: Plastic waste in the ocean is estimated to be directly responsible for over 1,000,000 seabird deaths and 100,000 marine animal deaths per year, usually by accidental ingestion or entrapment. Not included in these estimates are biodiversity losses caused by the destruction of habitats and breeding grounds. Microplastics, which have been detected as remotely as the Arctic Central Basin, are hotbeds for toxins in the ocean and quickly enter the aquatic food chain. Plastic Bank seeks to stop ocean plastic altogether to remedy this global issue.
17. Partnerships for the Goals: Plastic Bank has been recognized at the United Nations Climate Change Conference as a leader in upholding the Sustainable Development Goals and helping other organizations meet their SDG-based goals.