A recent study by Greenpeace and Everyday Plastic has estimated that the UK throws away over 100 billion pieces of plastic each year. The study showed that the current recycling process in the UK is not working, a message that has been evident in markets all over the world. While corporations are working on reducing their reliance on single-use plastics for packaging, it is only making a small dent in the overall plastic pollution.
There are companies that are working on solutions, although tackling the global problem is certainly going to be a group effort. Waste management giants like Waste Management (NYSE:WM) and Veolia Environnement (OTC:VEOEY) are working in the US and Europe respectively to provide improved recycling processes. Other companies like CleanVision Corp (OTC:CLNV) and the United Nations Development Program or UNDP are tackling the problem by establishing conversion technologies that turn collected plastic waste into reusable products and materials.
CleanVision Corp has a particularly novel innovation which turns locally collected plastic waste into reusable energy sources. Specifically, CleanVision, through its subsidiary CleanSeas, is turning plastic waste into a hydrogen fuel source called AquaH. The company has already established binding agreements with countries like Morocco and India, and recently established a new partnership in Istanbul. If we are ever going to start chipping away at the global plastic waste problem, it is companies like CleanVision that will be at the forefront of this revolution.
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