Six Ways Businesses Can Reduce Ocean Plastic Pollution
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Plastic

Six Ways Businesses Can Reduce Ocean Plastic Pollution

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Plastic pollution has become one of the most visible environmental problems of our time, with an estimated 11 million metric tons leaking into the ocean per year—equivalent to more than a garbage truck’s worth per minute. 

This essay proposes six steps that executives can take to help prevent and reduce plastic in the ocean. These have been adapted from the Plastics Policy Playbook, a report developed by the nonprofit advocacy group Ocean Conservancy and its Trash Free Seas Alliance®.

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Why should businesses tackle the risks posed by plastics?

Plastic pollution has become one of the most visible environmental problems of our time, with an estimated 11 million metric tons leaking into the ocean per year—equivalent to more than a garbage truck’s worth per minute. 

This essay proposes six steps that executives can take to help prevent and reduce plastic in the ocean. These have been adapted from the Plastics Policy Playbook, a report developed by the nonprofit advocacy group Ocean Conservancy and its Trash Free Seas Alliance®.

Trusted Insights for What’s Ahead™

Why should businesses tackle the risks posed by plastics?

  • Stakeholders (e.g., consumers, employees, regulators, investors, etc.) increasingly expect companies to address plastic waste across their products’ value chain. Growing concern around single-use plastics and the potential of it ending up in oceans and landfills has made sustainable packaging a priority issue for many companies. A number of companies (including Coca-Cola, Nestle, P&G, and others) have responded by setting targets to reduce their plastic footprint and focusing on using products that contain more recycled content and are themselves recyclable. While this is a trend that will become more common, companies need to be mindful of the rising cost of recycled plastic. For example, the cost of postconsumer recycled plastic in Europe has doubled in a year (€1690 per ton), overtaking the cost of the virgin equivalent. Leaving plastics management to the sustainability or the packaging team no longer works. Managing plastic effectively requires an integrated approach and the support of key functions across the organization, including strategy, research and development, design, marketing, and procurement. Many companies have made plastics a C-suite issue.
  • Regulatory activity to curb plastic waste will continue to pick up. Several countries, including the US, the UK, Kenya, China, regions of India, the European Union, and dozens of major cities across the globe have introduced regulations and legislation focused on plastic.These are primarily aimed at use and disposal to reduce consumption and improve waste management. Companies should keep abreast of emerging regulatory trends in this area. Companies have not had to factor in the enormous postconsumer costs and impacts of plastic into their business models. However, that is changing. In many places, new policies are making producers, typically defined as the company putting the product onto the market, responsible for their share of postconsumer waste.
  • Companies can use their circular economy initiatives to build brand equity. Ecofriendliness resonates with consumers and can be a gateway for brands to speak to customers interested in sustainability. Companies can use their circular economy initiatives to build brand equity by creating emotional connections and making consumers feel good about embracing sustainable brands. This holds true for B2B companies as well.
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Authors

Edith Cecchini

Edith Cecchini Edith Cecchini

Project Director, Corporate Strategy & Policy
Ocean Conservancy

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Chever Voltmer

Chever Voltmer Chever Voltmer

Plastics Initiative Director
Ocean Conservancy

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Anuj Saush

Anuj Saush Anuj Saush

ESG Center Leader, Europe
The Conference Board

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