David Katz, founder and CEO of Plastic Bank is an entrepreneur of the circular economy with a triple bottom line (people, planet and profits). Founded in 2013, its company called the Plastic Bank, was built in order to transform plastic waste into a bargaining chip to give them a value in the eyes of the poorest, in order to reduce poverty and pollution of the oceans.
- Create new jobs in low- income communities
- Encourage plastic collectors to become micro-entrepreneurs
- Provide via Plastic Bank the opportunity to exchange the plastic it against goods or services to improve the daily lives of the collectors.
- Demonstrate the commercial interest of plastic waste and find a profitable outlet to stop the production of new plastics.
- Establishing partnerships with local NGOs to involve them in the process of collection.
- Promote jobs that employ people that will take charge of a small infrastructure
- The suppliers ( local ) , collect plastic waste and exchange it for money, goods or services
- The waste is then processed and sent to a plant where they are processed into raw materials : this is the principle of circular economy.
- This "social plastic" is then bought by producers that will establish new products, and commercialize them
CONTRIBUTION TO COMPANY PERFORMANCE
- Plastic Bank received the Community Award Sustainia at the COP 21
- New International Partnerships
- The program has collected more that 3,000,000 lbs in 2014-2015 alone.
- 2015-2016 targets are 5,000,000 lbs and opening 30 new collection centres.
- Completion in 2015 of a partnership which impacts more than 1,000 Haitians
- In 2016 , Plastic Bank plans to recycle over 22,500 tons of plastic waste and improve the living conditions of thousands of Haitians through social plastic.