Ethos Asset Management, a prominent investment firm with a focus on impactful and sustainable investments, has announced its strategic investment in The Plastic Bank Recycling Corporation.
Plastic Bank is an innovative social enterprise that seeks to combat ocean plastic pollution while uplifting collection communities in vulnerable coastal regions.
The investment sum, though undisclosed, is targeted towards strengthening the revolutionary recycling model developed by Plastic Bank. Ethos Asset Management is partnering in this endeavour to further its commitment to driving positive environmental and social change through its investment portfolio.
Plastic Bank is globally acclaimed for its unique Social Recycling approach to the plastic waste crisis. By incentivising coastal communities in developing regions to gather ocean-bound plastic in exchange for income and life-enhancing benefits, Plastic Bank is actively mitigating the impact of plastic pollution on our environment. This distinct model also presents a socio-economic opportunity for these communities to fight poverty, while safeguarding the ocean and environment.
The strategic investment from Ethos Asset Management is anticipated to aid Plastic Bank in expanding its waste collection infrastructure, scaling up recycling capabilities, amplifying its overall impact, and empowering more communities globally to battle plastic pollution.
Carlos Santos, CEO of Ethos Asset Management Inc, enthusiastically shared the company’s commitment to this high-impact project, saying, “Plastic Bank is building ethical recycling ecosystems in coastal communities and reprocessing ocean-bound plastic for reintroduction into the global manufacturing supply chain.
“The collected plastic is reborn as Social Plastic, which can be easily reintegrated into products and packaging as part of a closed-loop supply chain. Plastic Bank’s solution is stopping ocean-bound plastic and helping alleviate poverty by turning plastic into a currency.”
David Katz, Founder and Chairman of Plastic Bank, expressed his delight over the collaboration, stating, “We are delighted to partner with Ethos Asset Management, an organisation that shares our vision for a wasteless world. This investment will be instrumental in growing the Social Recycling movement, allowing us to reach more communities, create more social impact, and make significant strides in our fight against ocean plastic pollution.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
