A California-based advocacy group As You Sow has organized $1 trillion in assets into a new Plastic Solutions Investor Alliance, after shareholders began calling upon major consumer product companies to reduce plastic packaging, increase recyclability and aide in the recycling collection process.
The Plastic Solutions Investor Alliance is an international coalition of investors that will “engage publicly traded consumer goods companies on the threat posed by plastic waste and pollution.” So far, 25 institutional investors from four countries have signed a declaration that cites plastic pollution as a corporate brand risk, and they pledged to engage leading companies in finding a solution through new commitments, programs and policies.
Some publicly traded companies they will begin engaging are Nestlé, PepsiCo, Procter & Gamble and Unilever.
The Declaration states that companies that use plastic packaging will:
Use recyclable, reusable or compostable plastic packaging to the fullest extent possible.
Disclose yearly plastic packaging use.
Set plastic reduction goals.
Invest in alternatives for plastic packaging, especially single-use packaging.
Play a significant role in funding the collection and recycling or composting of packaging.
Support policies to reduce plastic waste and broaden extended producer responsibility programs.
Encourage research on potential technology and innovation to provide solutions.
As You Sow believes that its community of investors will have a positive influence in raising public and governmental awareness about the problems associated with plastic pollution, especially as it relates to marine litter.