Borealis, a leading player in the field of polyolefins base chemicals & fertilizers, has confirmed majority share of funding for the Project STOP Ocean Plastics (STOP). This project is the joint initiative with Systemiq and Sustainable Waste Indonesia.
Primarily, it is working with the city government to eliminate leakage of plastic into the ocean and increase recycling of plastic. The project also supports the wider system changes essential for a plastic circular economy. The funding secures the start of Project STOP’s second phase in Indonesia.
Plastics can deliver several sustainability benefits ranging from increasing energy efficiency to preventing food waste. But continuous leakage of plastic litter in ocean bodies is now a pressing issue and can’t be neglected. Thus, Borealis has jointly initiated the Project STOP with Systemiq that is an advisory and investment firm to address the problem of ocean plastics.
The phase one of the project has resulted in successful completion of feasibility and baseline studies and other preparatory work. Phase two will witness its first city partnership set up in Indonesia. Like other South East Asian countries, economic growth and plastic consumption have exceeded the ability to manage plastic waste in Indonesia also.
After China, Indonesia is the world’s second-largest source of marine plastic debris. The first city-partnership project will be initiated in Muncar, a major fishing port in East Java suffering from plastic waste in its harbor, beaches, and rivers.
Project STOP aims to:
- Proper waste collecting and sorting to achieve zero leakage of plastic waste in the environment
- Establish a plastic circular economy and increase recycling, by strengthening the supply chain from waste collection to recycling companies, that will generate new revenue and jobs; and
- It will benefit the local community by minimizing the impact of public waste on health, tourism, and fisheries.
Mark Garrett, Borealis Chief Executive, said, “Addressing marine litter is a critical challenge for our industry and a key focus of Borealis’ social engagement strategy. We are pleased to continue funding this industry-leading initiative, which is an important step towards creating a plastics circular economy.”
He also added, “We are also happy that Borouge, our Joint Venture with the Abu Dhabi National Oil Company (ADNOC), is supporting this project.”
Martin Stuchtey, Founder and Managing Partner of Systemiq explains by saying, “The next phase of Project STOP is a major milestone in our efforts to keep plastics out of the ocean.”
Further, he said, “There is a great need to accelerate circular waste management solutions in Asia, and we are hugely excited to design and deliver this new city partnership model, together with Borealis and our government partners in Indonesia.”