Forum for Sustainable Enterprises inks MoU with Ocean Recovery Alliance for Plastic Disclosure Project

Forum for Sustainable Enterprises (FSE), a Mumbai headquartered not-for-profit company signed an MoU with Ocean Recovery Alliance, a Hong Kong registered charitable organization focused on entrepreneuring programs to reduce plastic pollution on land and water.

About 8m tons of plastic waste flows into the ocean every year, with India accounting for around 13 per cent of this volume. Less than 15 per cent of all plastic is recycled globally and 40 percent of plastic produced is packaging, used just once, and then discarded. Under the strategic partnership, the two entities will jointly advance the mission to reduce plastic pollution on land and water by creating strategic solutions which lead to long-term, hands-on engaging practices.

At the signing of the MoU, Dr P Rambabu, Chairman FSE, said that, "The partnership with Ocean Recovery Alliance is fully aligned with the objectives of FSE, established in 2016, to create a platform for corporate boards, financial institutions and innovators to accelerate the transition to Net Zero 2050, Circular Economy and advance UN Sustainable Development Goals."

Sumantra Sen, CEO, FSE quoted, "One of the challenges to entering circular economy is the absence of appropriate baseline analysis. The collaboration, therefore, is focused on promoting the Plastic Disclosure Project (PDP) to the businesses and municipalities, for a better understanding and management of their plastic value chain."

Doug Woodring, Founder of Ocean Recovery Alliance and PDP added that, "Our PDP methodology launched in 2010, assists in capturing and analysing the current use pf plastics and recycled content, so that organizations and institutions are better equipped to make significant gains on plastic pollution reduction, recovery and reuse of materials."

In addition to Plastic Disclosure Project, FSE is establishing several collaborative programs to catalyze policy and galvanize business action. The company will make further announcements on these initiatives in the coming weeks.

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( With inputs from ANI )

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