A report from the OECD or Organization for Economic Cooperation and Development has a stark outlook for future plastic waste levels. What has already been identified by the United Nations as a global crisis, plastic waste in our oceans is directly contributing to global warming and the death of multiple species of marine life. Microplastics found in the waters as far North as the Arctic Circle are estimated to cause the deaths of more than one million seabirds and over 100,000 mammals each year.
The report estimates that global plastic pollution will triple to a staggering 1 billion tons by 2060. It also states that the annual production of fossil fuel related plastics will increase to 1.2 billion tons over that same time period. The problem isn’t necessarily the amount being used but the fact that less than 10% of all plastics used in the world are properly recycled or repurposed.
So are we doomed? Not exactly. There are plenty of companies that are developing new and innovative ways to deal with plastic waste. Major waste management companies like Waste Management (NYSE:WM) and Veolia (OTC:VEOEY) in Europe are taking matters into their own hands. Other companies like CleanVision Corp (OTC:CLNV) are establishing plastic conversion networks in countries like Morocco and India to help reduce the amount of plastic waste in nearby oceans. CleanVision, through its subsidiary Clean Seas, is helping to take collected plastic waste and convert it into renewable energy sources like its hydrogen fuel called AquaH.
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