The meaning of being part of the Global Commitment
The New Plastics Economy Global Commitment by The Ellen MacArthur Foundation
What is it?
The Global Commitment draws a line in the sand in the fight against plastic waste and pollution. It unites over 450 businesses, governments, and other organizations from around the world behind a common vision and a set of 2025 targets to address the problem at its source. It is led by the Ellen MacArthur Foundation in collaboration with the UN Environment Program.
Why is it necessary?
The problem with plastic starts long before it reaches our oceans, rivers, and beaches, and so must the solutions. Through the Global Commitment, businesses and governments commit to change how we produce, use, and reuse plastic. They will work to eliminate the plastic items we don’t need; innovate so all plastic we do need is designed to be safely reused, recycled, or composted; and circulate everything we use to keep it in the economy and out of the environment.
Who is involved?
The Global Commitment has already mobilized over 450 signatories that are determined to start building a circular economy for plastic. These include companies representing 20% of all plastic packaging produced globally, some of which are well-known consumer businesses.
The Global Commitment and its vision for a circular economy for plastic are supported by the World Wide Fund for Nature (WWF), and have been endorsed by the World Economic Forum, The Consumer Goods Forum (a CEO-led organization representing some 400 retailers and manufacturers from 70 countries), and 40 universities, institutions and academics. More than 15 financial institutions with in excess of $2.5 trillion in assets under management have also endorsed the Global Commitment, and over $200 million has been pledged by five venture capital funds to create a circular economy for plastic.
How will it drive change?
All business and government signatories have signed up to a clear set of 2025 targets underpinned by shared definitions, and will report on progress annually to ensure transparency and help drive momentum. The targets will be reviewed every 18 months and will become increasingly ambitious in the coming years.