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Plastic Bank

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Plastic Bank is a for-profit social enterprise founded and based in Vancouver, British Columbia, that builds recycling ecosystems in under-developed communities in an effort to fight both plastic pollution in oceans, as well as high poverty levels in developing countries[1][2]. The company allows people living in poverty to collect plastic and trade it in for material goods such as school tuition, medical insurance, [[pharmaceutical access, internet access, and cooking fuel, with the aim of adding more benefits to their program in the future[1]. Plastic Bank reprocesses collected plastics for reintroduction into the supply chain[3]. They currently have operations in the Philippines, Indonesia, Brazil, and Egypt, with plans to expand into Colombia and Vietnam in the coming years[4][5].

History

Plastic Bank was started in 2013 by co-founders David Katz and Shaun Frankson[3]. Their idea was to transform plastics into a form of currency for impoverished peoples[3][6]. Katz initially came up with the idea for their model at an arcade, where people would trade in tickets for prizes[6]. He took this idea to create a system in which that same kind of value would be applied to what people discard, effectively creating a currency, tradable for material goods or services[6][7].

  • Late-2013: First pilot collection center in Lima, Peru[8]
  • March 2015: First full ecosystem launched in Haiti, following the success of the pilot program in Lima[9][10]
  • September 2016: App development begins in partnership with IBM[11]
  • November 2016: Expansion into the Philippines launched[11]
  • November 2017: Partnership with Henkel announced[11][12]
  • July 2018: Expansion into Indonesia launched[11]
  • November 2019: Plans for Egypt expansion with Henkel announced[13]

Impact

Plastic Bank claims that as of 2020, they have collected over 14,147,000 kilograms of plastic[14], through over 21,000 collectors[14] in their 4 countries. The company claims that this figure for plastic is equivalent to over 707,367,900 plastic water bottles, 1.5 million plastic coffee cup lids, and 500 million plastic straws[14].

Plastic Bank has introduced collection bins into school environments to help students practice recycling early on[14]. They also employ “Plastic Bank Ambassadors” to promote environmental education in Haiti[14].

Awards

  • 2019: Prix Voltaire International Award[15]
  • 2019: Green Tech - Game Changer of the Year[16]
  • 2019: SDG Action Award - Connector[17]
  • 2018: Nature Inspiration Award[18]
  • 2017: UN Momentum for Change Award (COP23)[19]
  • 2015: Sustania Community Award (COP21)[20]
  • 2014: EO Global Citizen Award[21]
  • 2014: RCBC Environmental Award for Innovation[22]

References

  1. ^ a b Barbaschow, Asha. "Plastic Bank treating plastic like currency to tackle waste and poverty". ZDNet. Retrieved 2020-09-02.
  2. ^ "The Plastic Bank - Heroes of the Sea". heroesofthesea.com. Retrieved 2020-09-02.
  3. ^ a b c "What if We Turned Plastic Waste into a Valuable Currency?". Ever Widening Circles. 2019-08-18. Retrieved 2020-09-02.
  4. ^ CNN, Tom Page. "We're throwing away a fortune in plastic every year. This company is cleaning up". CNN. Retrieved 2020-09-02. {{cite web}}: |last= has generic name (help)
  5. ^ "EGYPT: Henkel joins forces with Plastic Bank to recover plastic waste". Afrik 21. 2020-02-19. Retrieved 2020-09-02.
  6. ^ a b c "Entrepreneur looks to reduce both plastic waste and poverty". plasticstoday.com. 2015-11-20. Retrieved 2020-09-02.
  7. ^ adove (2013-07-12). "Changing plastics into currency". www.royalroads.ca. Retrieved 2020-09-02.
  8. ^ "Peru's Plastic Banks Turn Waste Into Currency". Pop-Up City. Retrieved 2020-09-02.
  9. ^ Diotte-Lyles, Rachel (2019-12-16). "The Plastic Bank". thegrassrootsjournal. Retrieved 2020-09-02.
  10. ^ "The Plastic Bank: Banking what the sea spits back". Project Breakthrough. Retrieved 2020-09-02.
  11. ^ a b c d "History". Plastic Bank. Retrieved 2020-09-02.
  12. ^ Henkel. "Transforming waste into opportunity". www.henkel.com. Retrieved 2020-09-02.
  13. ^ Henkel. "Henkel extends partnership with Plastic Bank". www.henkel.com. Retrieved 2020-09-02.
  14. ^ a b c d e "Our Impact | Stop Ocean Plastic & Reduce Poverty with Plastic Bank". Plastic Bank. Retrieved 2020-09-02.
  15. ^ "2019". Prix Voltaire International. Retrieved 2020-09-02.
  16. ^ Aless, About the Author /; Besse', ro du (2019-06-05). "The 2019 Green Awards: Innovation For a Sustainable Future". Impakter. Retrieved 2020-09-02. {{cite web}}: |first= has generic name (help)
  17. ^ "2019 ENTRIES". SDG Action Awards. Retrieved 2020-09-02.
  18. ^ "2018 Award Winners: Nature Inspiration Awards | Canadian Museum of Nature". www.nature.ca. Retrieved 2020-09-02.
  19. ^ "UN Momentum for Change Award (COP23)". Plastic Bank. 2017-07-18. Retrieved 2020-09-02.
  20. ^ Eco-Business. "Game-changers honoured at Sustainia Awards 2015". Eco-Business. Retrieved 2020-09-02. {{cite web}}: |last= has generic name (help)
  21. ^ "Revealing the Value of People - March 2015 - Entrepreneurs' Organization". www.eonetwork.org. Retrieved 2020-09-02.
  22. ^ rcbc (2010-02-02). "Previous RCBC Award Winners". Recycling Council of British Columbia. Retrieved 2020-09-02.
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