ENVIRNOMENTAL ETHICS:

Raising Awareness of Plastic Waste

  Ø Most people are familiar with the concept of a carbon footprint. Many may also know there is such a thing as a water footprint. But whoever heard of a plastic footprint? Well, soon, more and more people will have.

Ø Hundreds of companies and institutions around the world will receive a questionnaire asking them to assess and report their use of plastic: how much they use, what processes they have for recycling and what — if any — policies they have to reduce their plastic consumption or to increase the proportion of recycled or biodegradable plastic within their organizations.

Ø Fairly simple questions, but ones that could help to thrust the issue of plastic waste and pollution onto the radars of corporations, investors and the public in a much bigger way.

Ø “What we’re trying to do is to have companies manage and use plastic much more wisely, and to receive recognition for doing so from both customers and investors,” said Doug Woodring, an environmental entrepreneur in Hong Kong who has a background in asset management and is the driving force behind the initiative.

Ø “Plastic pollution is a major global phenomenon that has crept up on us over the decades, and it really requires a global and comprehensive solution that includes systemic rethinks about usage and production.”

Ø By pushing the thinking about plastic pollution far beyond beach cleanups with an attempt to change the awareness and behavior of big users of plastic, which include not only companies but also universities, hospitals and sports groups.

Ø Like the carbon project, the plastic disclosure initiative is backed by investors: asset managers who value information about any potential wastage or liabilities related to the use of energy, water or plastic, or, conversely, any improvements that will bolster a company’s bottom line or its image with consumers.

Ø “Increased transparency by companies should improve the ability of sustainable investors to assess the investment risks and opportunities of companies in the global plastic value chain,” 

Ø While carbon emissions and water use are pretty firmly embedded in the consciousness of most organizations, the use of plastic generally is not.

Ø Here is why: About 300 million tons of plastic is produced globally each year. Only about 10 percent of that is recycled. Of the plastic that is simply trashed, an estimated seven million