Updated: Oct 28, 2018
By Leslie P Norton
“There’s a great future in plastics,” according to a famous line from the 1967 film The Graduate. Now there may be more of a future in remediating it. There are some 150 million tons of plastic in the ocean, growing by 8% a year, entangling sea life, and introducing toxicity into the system.
Enter Circulate Capital, which is now raising money to address the problem and aiming to make its first investment in Southeast Asia in the first quarter. Seed investors in the New York-based impact fund, which seeks to seed funding for plastics-recycling solutions, include some of the world’s largest plastic producers and users: 3M (MMM), Coca-Cola (KO), Kimberly-Clark (KMB), DowDuPont (DWDP), PepsiCo (PEP), and Procter & Gamble (PG), as well as the World Plastics Council, an industry group.