The Plastic Bank is an international corporation that has implemented a market-based solution to
improve the health of the planet. In Haiti, plastic waste is collected by local people and sold to
global brands, who recycle and re-use it. Local plastic waste collectors receive payment for each
piece of plastic collected through an ethically sourced system, which not only aids in improving
the local environment but also in poverty alleviation. The collection of waste plastic from the
environment removes plastic that acts as breeding grounds for disease carrying organisms such as
mosquitos, helping to reduce the spread of malaria, dengue fever, and cholera. Local birdlife is
also protected from becoming entangled in and ingesting waste plastic. Some of the most
marginalized people on the planet reside in Haiti and the project provides them with much-needed
cash and essential elements, such as a child’s school tuition.
Key facts
There are 3,500 recyclers in Haiti and they bring plastic to one of twenty recycling markets;
Top recycle market entrepreneurs have recycled up to 200,000 pounds/month;
After paying expenses and wages to four employees, owners can net USD $3,000- average earning
of recycle markets are about half the maximum.
In developing nations, waste management systems are either lacking, inefficient, or underfunded. Often,
the plastic waste management strategy is to dispose of plastics directly into ocean bound waterways or to
burn it. Plastic disposal into waterways facilitates the spread of some tropical diseases by providing
breeding grounds for mosquitos, which can foster the spread of cholera. Floating plastic waste can survive
for thousands of years and can serve as mini transportation devices for invasive species. Burning plastics
releases pollutants, such as dioxins, that build-up in the environment and adversely affect human health.
Harmful chemicals that are present in plastic buried deep in landfills can leach into groundwater. Plastic
debris laced with chemicals are often ingested by marine animals and can also injure or poison wildlife. At
least 267 different species are known to have suffered from ingesting or becoming entangled in marine plastic
debris. Last but not least, around 4% of the world’s oil that is produced, is used as raw materials to
make plastics and a similar amount is consumed as energy in the process, resulting in greenhouse gas
emissions contributing to climate change.
The solution
The Plastic Bank applies integrated carbon reduction strategies to recycle plastic, which may be
exchanged for cash and essential elements, such as a child’s school tuition. Top recycle market
entrepreneurs recycle up to 200,000 pounds/month. The Plastic Bank’s efforts make the local society
more resilient and better able to adapt and prepare for climate related stresses. By monetizing and
connecting the plastic waste to global supply chains, the value of recycling is being acknowledged. The
project delivers a wide array of environmental benefits and provides families with income opportunities and
critical products and services.
Helping the planet
Removal of waste plastic from the waterways prevents many adverse environmental and health impacts
associated with its disposal. Clearing waterways ensures that natural basins can more effectively handle
large storms to reduce risks like flooding and landslides and thus maintain habitats and ecosystems. Marine
life and waterfowl species are being protected against ensnaring or ingesting plastic, thus aiding in the
retention of biodiversity. Reducing the amount of new plastics from being manufactured mitigates the
production of greenhouse gases and addresses climate change.
Helping people
The Plastic Bank’s team in Haiti trains the recycle market entrepreneurs in financial literacy,
basic accounting, enrollment of recyclers, strategies to increase volumes, and engaging/educating the
community. Several co-benefits aid some of the most marginalized and poorest people to escape the poverty
cycle, such as creating income opportunities that can double pre-existing income and strategies that
incentivize parents to use income gained from plastic collection to pay for their children’s education.
Currently in Haiti, over 200,000 children cannot attend school for lack of financial funds, thus making the
project a viable means to access education for their children. Plastic removal from urban centers can also
make local environments more aesthetically pleasing, which could then attract tourism and thus providing an
additional economic opportunity.
Spillover effect
The Plastic Bank is designed to be largely an easy business solution. The mobile-based blockchain app
that manages payments, stores credit and validates impact claims greatly enhances the possibility to scale
The Plastic Bank into new markets. The business model relies on supporting and improving existing waste
management facilities, specifically their ability to process recycled plastics. Effective support of
recycling facilities is being enhanced the longer the company operates and the more markets they operate in.
Connecting the recycling facilities to the benefits of supplying ‘social plastic’ The Plastic
Bank’s trademarked plastic to global brands will accomplish significant economies of scale. The Plastic
Bank has also been designed to be as easily executed as possible in developing economies that have elevated
rates of poverty and mismanaged plastic waste. Mismanaged plastic waste is often correlated with
underdeveloped economies and The Plastic Bank offers significant climate change mitigation and adaptation
solutions to a wide variety of underdeveloped nations. The Plastic Bank’s success in Haiti has led to
its expansion into south east Asia. Since November 2016, work has commenced in setting up The Plastic Bank in
the Philippines, which is expected to be operational by the second half of 2017. implementation of The
Plastic Bank in Indonesia is set to commence in January 2018.
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