Updated: Oct 28, 2018
By Steve Toloken
Closed Loop Partners, industry and environmental groups are ready to put money into projects to improve waste management in Asia and help reduce marine pollution.
The group launched a new investment fund July 18, with support from the plastics industry, called Circulate Capital. It follows a move last year from Closed Loop, environmental groups and the plastics industry to raise $150 million to reduce plastics litter in the ocean.
The effort said it will focus on Asia because half of the estimated 8 million metric tons of plastics waste that flow into the oceans annually come from developing Asian economies with inadequate waste management.
Circulate Capital will be led by Rob Kaplan, co-founder of Closed Loop, which used a similar investment model to raise $100 million from retailers, major corporations and others to finance waste management improvements in North America.