Market is closed

EGX 30 11,050.89 -0.34%

Count Down to relaunch

Henkel to introduce Plastic Bank Ecosystems Initiative

Henkel to introduce Plastic Bank Ecosystems Initiative

ArabFinance:  Henkel is proudly introducing *Plastic Bank Ecosystems to Egypt, for the very first time, as a result of its prosperous 5 years partnership with Plastic Bank - a social enterprise which aims to stop ocean plastic and provide opportunities for disenfranchised people in the communities in which it operates. With over 400 projected Plastic Bank collection points that allow for the exchange of collected plastic waste with digital currency, goods or services, Henkel will reduce plastic waste in oceans and waterways, upscale its sustainable packaging practices, and improve the lives of underprivileged people in Egypt. The plastic that is collected will be sorted and processed, and then integrated back into recycling value chains as Social Plastic® (Material that has been verified by Plastic Bank to indicate that collectors receive above market value, in the form of digital currency and other rewards, for plastic waste) to be reused in Henkel’s future packaging practices where possible.

CEO of Plastic Bank, David Katz stated: “Plastic Bank creates a regenerative value chain that contributes to a better world. Our partnership with Henkel is a good example of what can be achieved by joining forces and we are delighted about our extended collaboration.” Katz added: “Together, we can create true added value by tackling the waste problem using a holistic approach, while at the same time helping people in need.”

Extending their partnership to another 5 years, Henkel together with Plastic Bank are to establish a collection ecosystem in Egypt with a capacity of up to 5000 tons of plastic waste annually, corresponding to up to 1 billion packaging bottles over the upcoming 5 years.

VP Africa & Marketing MEA & President Henkel Egypt, Ahmed Fahmy, stated: “One of our core values at Henkel is to give back to the community and leave a remarkable trace wherever we operate. Also, reducing plastic waste is one of Henkel’s top priorities; Henkel has very aggressive targets regarding packaging which are all reinforced by being one of the founders of the Global Alliance to End Plastic Waste as well as our extended partnership with Plastic Bank. We are very proud to have Plastic Bank in Egypt and look forward to a successful partnership.”

General Manager of Laundry & Home Care at Henkel Egypt, Omar El-Masry, declared: “At Henkel Egypt, we are proud of our partnership with Plastic Bank, and even more proud of introducing Plastic Bank Ecosystems to Egypt. With our CSR initiatives, we aim at changing the lives of underprivileged citizens at disadvantaged areas and greatly contribute to engage them in our environmental practices to raise their awareness while improving their financial standards through ensuring a steady income for the collectors.”

Globally in 2019, Henkel launched a range of Beauty Care and Laundry & Home Care products with packaging including up to 50 percent Social Plastic®, utilizing more than 200 tons of Henkel’s already processed plastic waste. This milestone received external recognition: Henkel received Packaging Europe’s “Best Practice” Sustainability Award and Ecovia’s Sustainable Beauty Award in the “Sustainable Packaging” category.

The partnership with Plastic Bank is part of Henkel’s various activities to foster a circular economy and to promote sustainable packaging solutions. To drive progress in the field of sustainability, Henkel is collaborating with different partners along the value chain and participates in many cross-industry initiatives; being a member of the New Plastics Economy and a founding member of the global Alliance to End Plastic Waste.

#Related keywords

All rights reserved to Arab Finance 2015 ©

Back to top