Plastic Bank
Plastic Bank
Company typePrivately held company
Industry
  • Environment
  • Social Fintech
  • Regeneration
Founded2013, in Vancouver, BC, Canada
FounderDavid Katz and Shaun Frankson
Websiteplasticbank.com

Plastic Bank is a for-profit social enterprise founded and based in Vancouver, British Columbia, that builds recycling ecosystems in under-developed communities in an effort to fight both plastic pollution in oceans, as well as high poverty levels in developing countries.[1][2] The company allows people living in poverty to collect plastic and trade it for goods and services including school tuition, medical insurance, pharmaceutical access, internet access, and cooking fuel, with the aim of adding more benefits to their program in the future.[1] Plastic Bank reprocesses collected plastics for reintroduction into the supply chain.[3] They currently have operations in the Philippines, Indonesia, Brazil, and Egypt, with plans to expand into Colombia and Vietnam in the coming years[4][5]

History

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.[6]

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.

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[7]

2016: Expansion into the Philippines[8]

2018: Expansion into Indonesia[9]

2018: Partnership with SC Johnson[10]

2019: Expansion into Brazil[11]

2020: Expansion into Egypt[12]

2023: Expansion into Thailand[13]

2023: Expansion into Cameroon[14]

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.[15]

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.[16]

Awards

  • 2023: International Green Industry Hall of Fame, Inductee[17]
  • 2023: The Globe and Mail: Report on Business Magazine, Changemakers Award (David Katz)[18]
  • 2022: Reuters Events Responsible Business Awards, Social Impact Award[19]
  • 2022: NBJ Award: Sustainability and Stewardship Award, (won in partnership with Natreve)[20]
  • 2021: Energy Globe Award, National Winner (Philippines)[21]
  • 2020: IBM Beacon Blockchain Trailblazer Award, (won in partnership with Cognition Foundry)[22]
  • 2020: SC Johnson, Sustainability Award
  • 2020: Dow Packaging Innovation Award, Top Diamond Award Winner
  • 2020: Meaningful Business, 100 Award Winner (David Katz)[23]
  • 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.[24]
  • 2019: Green Tech - Game Changer of the Year.[25]
  • 2019: SDG Action Award - Connector.[26]
  • 2018: Nature Inspiration Award.[27]
  • 2017: UN Momentum for Change Award (COP23).[28]
  • 2015: Sustania Community Award (COP21).[29]
  • 2014: EO Global Citizen Award.[30]
  • 2014: RCBC Environmental Award for Innovation.[31]

References

  1. ^ a b Barbaschow, Asha. "Plastic Bank treating plastic like currency to tackle waste and poverty". ZDNet. Retrieved 2020-09-02.
  2. ^ "The Plastic Bank - Heroes of the Sea". heroesofthesea.com. Retrieved 2020-09-02.
  3. ^ "What if We Turned Plastic Waste into a Valuable Currency?". Ever Widening Circles. 2019-08-18. Retrieved 2020-09-02.
  4. ^ Tom Page (15 November 2019). "We're throwing away a fortune in plastic every year. This company is cleaning up". CNN. Retrieved 2020-09-02.
  5. ^ "EGYPT: Henkel joins forces with Plastic Bank to recover plastic waste". Afrik 21. 2020-02-19. Retrieved 2020-09-02.
  6. ^ "About Us | Plastic Bank". plasticbank.com. 2024-08-28. Retrieved 2025-04-09.
  7. ^ "Plastic Bank | IBM". www.ibm.com. 2024-05-14. Retrieved 2025-04-09.
  8. ^ "Global Waste Management: Making an Impact with Plastic Bank". plasticbank.com. 2024-04-10. Retrieved 2025-04-09.
  9. ^ "Global Waste Management: Making an Impact with Plastic Bank". plasticbank.com. 2024-04-10. Retrieved 2025-04-09.
  10. ^ "A Partnership for Progress: SC Johnson & Plastic Bank Celebrate Stopping the Equivalent of 2 Billion Plastic Bottles from Entering the Ocean". www.scjohnson.com. 2023-05-08. Retrieved 2025-04-09.
  11. ^ "Global Waste Management: Making an Impact with Plastic Bank". plasticbank.com. 2024-04-10. Retrieved 2025-04-09.
  12. ^ "Global Waste Management: Making an Impact with Plastic Bank". plasticbank.com. 2024-04-10. Retrieved 2025-04-09.
  13. ^ "Global Waste Management: Making an Impact with Plastic Bank". plasticbank.com. 2024-04-10. Retrieved 2025-04-09.
  14. ^ "Global Waste Management: Making an Impact with Plastic Bank". plasticbank.com. 2024-04-10. Retrieved 2025-04-09.
  15. ^ "Global Waste Management: Making an Impact with Plastic Bank". plasticbank.com. 2024-04-10. Retrieved 2025-04-09.
  16. ^ "Ocean Stewards Educational Program - Plastic Bank". plasticbank.com. 2023-01-25. Retrieved 2025-04-09.
  17. ^ "International Green Industry Hall of Fame". gogreenhall.org. 2024-08-08. Retrieved 2025-04-09.
  18. ^ "Changemakers: Meet 50 emerging leaders reinventing how Canada does business". The Globe and Mail. 2023-02-24. Retrieved 2025-04-09.
  19. ^ "Plastic Bank wins Social Impact Award - Plastic Bank". plasticbank.com. 2022-10-19. Retrieved 2025-04-09.
  20. ^ "2022 NBJ Award: Sustainability and Stewardship Award". www.newhope.com. Retrieved 2025-04-09.
  21. ^ "Plastic Bank receives the Energy Globe Award for the Philippines". www.advantageaustria.org. 2021-12-09. Retrieved 2025-04-09.
  22. ^ "Industry Awards – Cognition Foundry". Retrieved 2025-04-09.
  23. ^ "2019 Meaningful Business 100 Winners Announced! – Opportunity Desk". 2019-11-14. Retrieved 2025-04-09.
  24. ^ "2019". Prix Voltaire International. Retrieved 2020-09-02.
  25. ^ Aless, About the Author /; Besse', ro du (2019-06-05). "The 2019 Green Awards: Innovation For a Sustainable Future". Impakter. Retrieved 2020-09-02. {{cite web}}: |first1= has generic name (help)
  26. ^ "2019 ENTRIES". SDG Action Awards. Retrieved 2020-09-02.
  27. ^ "2018 Award Winners: Nature Inspiration Awards | Canadian Museum of Nature". www.nature.ca. Retrieved 2020-09-02.
  28. ^ "UN Momentum for Change Award (COP23)". Plastic Bank. 2017-07-18. Retrieved 2020-09-02.
  29. ^ Eco-Business (7 December 2015). "Game-changers honoured at Sustainia Awards 2015". Eco-Business. Retrieved 2020-09-02. {{cite web}}: |last= has generic name (help)
  30. ^ "Revealing the Value of People - March 2015 - Entrepreneurs' Organization". www.eonetwork.org. Retrieved 2020-09-02.
  31. ^ rcbc (2010-02-02). "Previous RCBC Award Winners". Recycling Council of British Columbia. Retrieved 2020-09-02.
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