Indorama Ventures joins World Economic Forum’s Global Plastic Action Partnership

The global partnership aims to reduce plastic leakage into the environment and is driving the transition to a circular economy for plastics.
“This partnership is aligned with Indorama Ventures’ 2019 commitment to increase the volume of recycled PET by at least 750,000 tonnes, pledging US$1.5 billion [Bt46.8 billion] towards achieving this target by 2025,” the firm said in press statement.
“By joining GPAP, we will advance our shared goal of ending PET plastic waste,” IVL chief sustainability officer Yashovardhan Lohia said. “Harnessing the convening power of the World Economic Forum, GPAP is bringing together governments, businesses and civil society to forge circular solutions – at both the global and national levels. Our recycling facilities across the world can close the loop and deliver a circular economy for PET plastic.
“In March this year we recycled our 50 billionth PET bottle since we started in 2011. We want to go further because we know PET is fully recyclable: by 2025 we aim to recycle 50 billion bottles a year. To achieve this, we have committed up to US$1.5 billion to expand the recycling infrastructure the world needs. The GPAP community is championing this shift to a circular economy and helping the world to understand the benefits of a closed-loop approach,” Lohia said.
“Joining GPAP is a clear statement of Indorama Ventures’ commitment to sustainability and advancing the circular economy,” said Kristin Hughes, GPAP director and member of the World Economic Forum Executive Committee. “Their global presence, fully integrated model and decades of recycling know-how means they are uniquely placed to close the loop for PET plastic.
“We look forward to working with Indorama Ventures and learning from their experience with collection systems around the world. Together we can drive high-potential solutions to improve collection, ensuring plastic never ends up as waste,” Hughes added.