Kuwait, July 24, 2019 – The EQUATE Petrochemical Company became part of the Alliance to End Plastic Waste (AEPW) on July 10, 2019, joining 11 other new members with a shared vision of developing and bringing to scale solutions to help eliminate plastic waste in the environment.
Dr. Ramesh Ramachandran, EQUATE Group President and CEO, said the membership marks a milestone in EQUATE’s journey to create a more sustainable global and local environment.
“Joining the Alliance helps to amplify our efforts to bring solutions to address a global need,” he said. “We have joined a strong team composed of the world’s top minds from across the entire plastics value chain and we look forward to being a part of the positive impact this organization is going to have for generations to come.”
“We strongly believe that partnerships across government, industry and communities will be the key to addressing the long-term need to end plastic waste, while still recognizing the critical importance of plastic in improving the lives of billions,” Ramachandran added.
Naser Al-Dousairi, Senior Vice President of The EQUATE Group, noted that “EQUATE is already active in this space, addressing the issue of plastics waste through both the company’s products and opportunities for action in local communities. Equipolymers, an EQUATE subsidiary, was the first company to innovate a chemically-recycled polyethylene terephthalate (PET), also, Viridis 25 uses 25% recycled plastic material and is clearly pushing the envelope in recycled plastic production through partnerships with other innovative companies such as Coca-Cola.”
EQUATE is also investing efforts in individuals and organizations to promote recycling, by partnering with community groups, industry and government to raise awareness on the importance of recycling and correctly recycle PET.
The alliance members have developed together a global vision and a comprehensive integrated strategy focusing on 4 key action pillars: Infrastructure development to collect and manage waste and increase recycling; Innovation to advance and scale new technologies that minimize waste; Education and engagement of governments at all levels, businesses, and communities to mobilize action; and, Clean up of concentrated areas of plastic waste already in the environment.
Launched in January 2019 with 27 founding members, the Alliance now includes 39 companies around the world that make, use, sell, process, collect, and recycle plastics. This includes chemical and plastic manufacturers, consumer goods companies, retailers, converters, and waste management companies. Member companies have committed over $1.0 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment. The World Business Council for Sustainable Development is a founding strategic partner.
For more information about EQUATE’s commitment to sustainability, visit https://www.equate.com/sustainability-strategy/
About EQUATE Group:
The EQUATE group (comprising EQUATE Petrochemical Company K.S.C.C., its subsidiaries, and The Kuwait Olefins Company K.S.C.C.) (the “EQUATE Group” or the “Group”) is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The Group’s products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.