Plastic Bank
From Wikipedia, the free encyclopedia
Plastic Bank is a social fintech with a global bottle deposit program that helps end poverty and stops plastic pollution.
 | This article contains promotional content. (February 2024) |
| Company type | Privately held company |
|---|---|
| Industry |
|
| Founded | 2013, in Vancouver, BC, Canada |
| Founder | David Katz and Shaun Frankson |
| Website | plasticbank |
Collection members exchange plastic for money, social benefits, and beyond. Traceable collection, secured income, and verified reporting is delivered through our blockchain-secured platform.
People and businesses reduce their environmental footprint and support communities through an impact membership. Subscribers access tools to share impact, invite their customers to join, and grow.
Collected bottles are returned as recycled feedstock to the circular economy.
Plastic Bank is headquartered in Canada with operations in the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon.
PlasticBank® and Social Plastic® are trademarks of The Plastic Bank Recycling Corporation.
History
Summarize
Perspective
Plastic Bank was founded in 2013 by David Katz and Shaun Frankson, with the vision of turning plastic waste into a form of currency to help lift underserved communities out of poverty.[1]
The organization began its operations in Haiti in 2013, then expanded to the Philippines in 2016, followed by Indonesia in 2018 and Brazil in 2019. In 2020 Plastic Bank reached Egypt—its first expansion into the Middle East. In 2023, it launched in Thailand and developed its ecosystem in Cameroon.
"I think the real gift of that day was the realization that I didn't need to create Plastic Bank. I needed to become the person who could. It was really a spiritual day of awakening for me. There was a still, quiet voice, unattached to outcome and meaning. It was a space that said, ‘You can become the person who makes change in the world.’”
- David Katz, on the moment he conceived Plastic Bank just before lunch on May 9, 2013.
Plastic Bank development timeline:
2013: First pilot collection center in Lima, Peru
2015: First full ecosystem launched in Haiti, following the success of the pilot program in Lima
2016: App development begins in partnership with IBM[2]
2016: Expansion into the Philippines[3]
2018: Expansion into Indonesia[4]
2018: Partnership with SC Johnson[5]
2019: Expansion into Brazil[6]
2020: Expansion into Egypt[7]
2023: Expansion into Thailand[8]
2023: Expansion into Cameroon[9]
Mission
Gathering for prosperity
Impact
Plastic Bank claims that as of April 2025, they have collected over 160,000,000 kg (160,000 long tons; 180,000 short tons) of plastic, through over 57,000 collection members in their 6 countries. The company claims that this figure for plastic is equivalent to over 8 billion plastic water bottles.[10]
Plastic Bank also has a Community Partnership Program, which provides plastic collection facilities and education to schools and faith-based communities—helping them practice recycling from an early age.[11]
Awards
- 2023: International Green Industry Hall of Fame, Inductee[12]
- 2023: The Globe and Mail: Report on Business Magazine, Changemakers Award (David Katz)[13]
- 2022: Reuters Events Responsible Business Awards, Social Impact Award[14]
- 2022: NBJ Award: Sustainability and Stewardship Award, (won in partnership with Natreve)[15]
- 2021: Energy Globe Award, National Winner (Philippines)[16]
- 2020: IBM Beacon Blockchain Trailblazer Award, (won in partnership with Cognition Foundry)[17]
- 2020: SC Johnson, Sustainability Award
- 2020: Dow Packaging Innovation Award, Top Diamond Award Winner
- 2020: Meaningful Business, 100 Award Winner (David Katz)[18]
- 2019: Sustainable Beauty Award, Best Packaging Award (Henkel)
- 2019: Packaging Europe, Best Practice Award Winner (Henkel)
- 2019: Greentech Festival, Game Changer of the Year
- 2019: EY Entrepreneur of the Year, Lifetime Achievement Award
- 2019: PAC Global Awards, Leadership Packaging Award (Henkel)
- 2019: Prix Voltaire International Award.[19]
- 2019: Green Tech - Game Changer of the Year.[20]
- 2019: SDG Action Award - Connector.[21]
- 2018: Nature Inspiration Award.[22]
- 2017: UN Momentum for Change Award (COP23).[23]
- 2015: Sustania Community Award (COP21).[24]
- 2014: EO Global Citizen Award.[25]
- 2014: RCBC Environmental Award for Innovation.[26]
References
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