Post by account_disabled on Dec 24, 2023 9:14:33 GMT 5.5
Bangkok, Thailand, November 25, 2020 - For the first time in history, a blue loan has been approved. or business loans that support the preservation of the environment and marine resources for a global plastics producer to recycle 50 billion PET (polyethylene terephthalate) bottles worldwide per year within 2019. 2025 which covers both 4 countries in Asia and one country in Latin America To take plastic waste out of landfills and oceans. A historic $300 million grant managed by IFC, a member of the World Bank Group, has been awarded to Indorama Ventures Global Services Limited (IVGS), a subsidiary of the group. Indorama Ventures Public Company Limited (IVL), producer and recycler of PET plastic pellets world class The funding will help IVL expand its recycling capabilities in Thailand, Indonesia, Philippines, India and Brazil.
This is a group of countries that struggle with waste that is not properly managed and face a serious problem of plastic waste in the environment. And will also be invested in renewable Telegram Number Data energy projects and efficient use of resources. This is the IFC's first blue loan approval, which is specifically focused on tackling marine plastic pollution. Blue loans are an innovative financial instrument that certifies and tracks funds received specifically for projects that support the blue economy, such as the sustainable use of marine resources for economic growth. We are honored to receive the first Blue Loan support from IFC,” said Mr. Yashovadan Lohia, Chief Sustainability Officer, Indorama. Venture said, “Our company, IVL, is working to build a recycling infrastructure. This is essential for removing waste from the marine environment. Recycling post-consumer PET bottles left over into new bottles is giving economic value to waste.
This will push for improvements in the waste collection system. This means less waste and cleaner oceans.” Indorama Ventures aims to produce at least 750,000 metric tons of recycled PET(rPET) globally by 2025. The distinctive feature of this investment is the creation of value from waste. This includes the processing of PET bottles left behind after consumption that would otherwise be sent to landfill or processed into lower value products. By promoting recycling to produce higher value bottles, there is the potential for significant value creation. “We are pleased to be working with industry-leading manufacturers to get waste PET bottles out of rivers, canals and oceans by supporting solutions that can be scaled up and create real change.” said Lfonso Garcia Mora, IFC Vice President for Asia and the Pacific.
This is a group of countries that struggle with waste that is not properly managed and face a serious problem of plastic waste in the environment. And will also be invested in renewable Telegram Number Data energy projects and efficient use of resources. This is the IFC's first blue loan approval, which is specifically focused on tackling marine plastic pollution. Blue loans are an innovative financial instrument that certifies and tracks funds received specifically for projects that support the blue economy, such as the sustainable use of marine resources for economic growth. We are honored to receive the first Blue Loan support from IFC,” said Mr. Yashovadan Lohia, Chief Sustainability Officer, Indorama. Venture said, “Our company, IVL, is working to build a recycling infrastructure. This is essential for removing waste from the marine environment. Recycling post-consumer PET bottles left over into new bottles is giving economic value to waste.
This will push for improvements in the waste collection system. This means less waste and cleaner oceans.” Indorama Ventures aims to produce at least 750,000 metric tons of recycled PET(rPET) globally by 2025. The distinctive feature of this investment is the creation of value from waste. This includes the processing of PET bottles left behind after consumption that would otherwise be sent to landfill or processed into lower value products. By promoting recycling to produce higher value bottles, there is the potential for significant value creation. “We are pleased to be working with industry-leading manufacturers to get waste PET bottles out of rivers, canals and oceans by supporting solutions that can be scaled up and create real change.” said Lfonso Garcia Mora, IFC Vice President for Asia and the Pacific.