“We saw the speed with which Closed Loop Partners’ Circular Plastics Fund put capital to work and determined that investing in the fund would help address our impact goals,” said Rick Wagner, Sustainability Policy and Program Manager at CPChem. “Collaboration will be a key component in advancing the transition to a circular economy and achieving a more sustainable future.”
Our Efforts to Eliminate Plastic Waste
From medical supplies to food packaging, plastic materials and products enhance our daily lives. However, plastic waste in the environment is a challenge that needs to be addressed. As a global leader in chemical and polymer production, we believe we are uniquely positioned to make significant contributions towards the reduction of mismanaged plastic waste.
Investing in advanced recycling
CPChem has invested in plastic recyclers that share our sustainability goal of eliminating plastic waste in the environment. CPChem uses high-quality feedstock from pyrolysis oil suppliers to produce Marlex® Anew™ Circular Polyethylene, a fully circular commercial product that we first introduced in 2022. By 2030, we aim to produce 1 billion pounds of Marlex® Anew™ annually.
Collaborating and supporting global efforts
A key aspect of our overall sustainability strategy is collaboration with organizations across the globe that share our ambition to end plastic pollution.
CPChem is a founding member of the Alliance to End Plastic Waste (AEPW), a group of manufacturers, consumer goods companies, retailers, converters, waste management firms, and intergovernmental organizations working together to find solutions to end plastic waste.
In 2019, CPChem reinforced its commitment to environmental stewardship by investing in Circulate Capital’s Ocean Fund I (CCOF), the world’s first investment fund dedicated to incubating and financing companies and infrastructure that seek to prevent ocean plastic in South and Southeast Asia.
In 2023, CPChem invested in Circulate Capital’s Ocean Fund LAC initiative to combat plastic pollution in Latin America and the Caribbean.
In 2022 CPChem invested in Infinity Recycling’s Circular Plastics Fund. The Fund, registered in Luxembourg, will invest in advanced recycling businesses which convert plastic waste to virgin grade feedstock for the manufacturing of new products. The Fund will initially focus on Europe but has ambitions to expand globally.
In 2023 CPChem announced an investment in Closed Loop Partners’ Circular Plastics Fund, which is focused on meeting the growing need to advance the recycling of rigid and flexible polyethylene (PE) and polypropylene (PP) plastics in the United States and Canada. The fund provides catalytic debt and equity financing, spurring additional mainstream investments into recycling solutions and infrastructure that can help address bottlenecks in the recycling system for polyethylene, polypropylene and flexible plastics.
Community Outreach
At CPChem, we strive to have a positive impact in the communities where we operate. Cleanup projects are a visible way to make a difference and we regularly encourage employees from our facilities worldwide to engage in clean-up efforts in their respective communities.
In 2023, on World Ocean Day, CPChem employees in Spain collaborated with Fundacion Ecomar to organize a beach cleanup. CPChem invited Spanish customers and students from a local elementary school to clean up trash and learn about proper plastic recycling and waste management.
Another example is CPChem’s financial support for a new ADA-accessible playground at Surfside Jetty Park in Brazoria County, Texas. This playground made from recycled plastic includes nautically themed toys that encourage climbing, sliding and swinging while emphasizing the importance of recycling. It is a great attraction for the community and encourages visitors to place plastic bottles and other recyclable materials in the correct places.
View our annual Sustainability Report to learn more about sustainability at CPChem.
