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Several of the world’s largest plastic chemical manufacturers have collectively committed $1 billion toward combating plastic pollution, with the goal of reaching $1.5 billion over the next five years, reports the Houston Chronicle.
The two dozen companies, which include Chevron, Procter & Gamble, ExxonMobil, Shell, DowDuPont, Suez and Veolia, are forming a nonprofit called the Alliance to End Plastic Waste (AEPW), according to a joint press release. AEPW’s financial pledge will go toward programs and technologies that aim to minimize, manage and prevent plastic waste.
In a separate op-ed, Chevron Phillips Chemical CEO Mark Lashier recognized plastic debris as “one of many materials that end up in the wrong places” but deemed it “a solvable challenge if we make the right choices and focus on the best solutions.” He described the new group as “corporate citizens” coming together “to demand more of ourselves.”