Metals billionaire Andrew Forrest is making a $300 million bet on the next big commodity — plastic

Rimco announced in September, 2019 that we would no longer sell one-time use plastic products and would offer clients alternatives.  Andrew Forrest is investing $300 million in a new venture harvesting plastic waste from our oceans and recycling it into new products.   Check out our Eco-Friendly Products section for ideas.

This is an effort everyone should support and promote throughout the promotional products and all industries using plastics.

Read about why this is so important below.

Article by Rachel Koning Beals

Rethinking plastic as a commodity, keeping it in a closed economy and out of landfills for long, is the best way to unclog the world’s oceans.

That’s the belief of Andrew “Twiggy” Forrest’s Minderoo Foundation in Australia, which has pledged US$300 million as incentives for a new global industry-focused initiative to end plastic waste by charging more for virgin plastic created from fossil fuels, he announced Wednesday.

With interest from giant plastic users such as Coca-Cola and Unilever, the goal now is to bring the fossil fuel industry on board.

The initiative, called “Sea The Future,” is projected to raise in excess of US$20 billion annually for global recycling, collection and environmental remediation through a voluntary contribution payable on plastics produced from fossil fuels, in other words, “new” plastic, explains the founder and former chairman of Fortescue Metals. The voluntary contribution is not payable on recycled plastics, immediately making it a cheaper alternative feedstock.

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