The magnitude of the plastic waste issue has highlighted the urgent need for collaboration across the value chain to make a positive impact. In 2021, we established collaborations and made investments with nonprofits, capital investors and industry peers focused on scalable solutions that increase plastics recovery and recycling.
LyondellBasell is a founding member of The Alliance to End Plastic Waste. In just three years, the Alliance has grown from 27 to more than 65 members that span the plastics value chain. The larger network allows it to unlock more resources, set a strong foundation and make meaningful impact through a range of activities including on the ground projects to address plastic waste in many developing countries.
"2021 was a defining year for plastic waste, as the issue grew in priority, urgency, and magnitude. Countries, businesses, and communities need more practical solutions to address their waste management and plastic waste problems. This urgency to act mirrored our journey at the Alliance too,” said Jacob Duer, President and CEO, Alliance to End Plastic Waste
We are investing catalytic capital into funds focused on advancing a circular economy. For every dollar we invest in venture funds that address the
plastic waste challenge, we aim to help catalyze another 5 dollars from co-investors by 2030.
Recent investments include support for the Circular Plastics Fund, led by Infinity Recycling, which invests in early-stage companies building demonstration and commercial advanced recycling plants, and a founding investment in the U.S.-based Closed Loop Partners’ Circular Plastics Fund which deploys capital to improve infrastructure and technologies to increase the recovery of plastics across North America.
In 2021, LyondellBasell also joined Cyclyx International, a consortiumbased feedstock management company. Cyclyx’s mission is to increase the recycling rate of plastic from 10% to 90%. Our membership brings valuable knowledge and experience to help the industry achieve its recycling ambitions.
In January 2022, the City of Houston, LyondellBasell, ExxonMobil, Cyclyx International and FCC Environmental Services joined together to form the Houston Recycling Collaboration. This collaboration will focus on significantly increasing the city’s recycling rate and boosting the amount of plastic waste feedstock available to make recycled plastics. It aims to establish Houston as a leader in both mechanical and advanced recycling.