There’s some urgency developing in California as it moves towards approving a bill to reduce single-use plastic usage by businesses in the state. The bi-partisan agreement is one of a number of steps the state is taking to ensure that plastic usage and waste is reduced by 2032. Many are hoping that some of the 85% of plastics that end up in landfills each year will be removed entirely, forcing businesses to go with alternative options like paper straws and bags.
California follows in the footsteps of other states and its northern neighbors in Canada in attempting to put some type of ban on single-use plastics. The figures for just how much of our plastic is not recycled are staggering. It is one of the leading causes for the loss of marine life and is directly contributing to global warming.
Some companies do stand to gain. US-domiciled companies like Waste Management (NYSE:WM) and Clean Harbors (NYSE:CLH) should be able to leverage this into more business. One company to keep an eye on is California-based CleanVision Corp (OTC:CLNV). Through its subsidiary, Clean Seas, this company is tackling the international market for plastic waste conversion. It has already helped to establish conversion plants in Morocco and India, where collected plastic waste from oceans ends up being converted into renewable energy sources like hydrogen fuel.
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