Borealis has committed to funding Project STOP Ocean Plastics, a joint initiative between SYSTEMIQ and Sustainable Waste Indonesia.
STOP works with city governments to prevent plastics washing to the ocean, using recycling and support from the wider system changes required for a plastics circular economy. The funding secures the start of Project STOP’s second phase.
SYSTEMIQ, is an advisory and investment firm that aims to tackle system failures, as one part of its approach to addressing this problem.
The harbour front at Muncar in East Java, Indonesia - Ocean waste
After it completed feasibility studies, the group has set up a partnership with the leaders of Muncar, a major fishing port at the lands’ end of East Java, suffering from plastic litter in its harbour, beaches and rivers.
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. 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, said: “The next phase of Project STOP is a major milestone in our efforts to keep plastics out of the ocean. 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.”