MIDLAND, MICH — Dow Chemical Co. is forming a global alliance with 30 other companies to focus on reducing plastic waste that ends up in the oceans and the environment.
The global nonprofit called the Alliance to End Plastic Waste includes companies like Dow, Shell, Exxon Mobil Corp. along with Proctor & Gamble Co., Chevron Corp. and others. They plan to finance the work with $1 billion and a goal of raising $1.5 billion over the next five years.
The focus is on cleanup, education, innovation and infrastructure.
“When it comes to plastic waste and ending plastic waste in the environment, I think everybody agrees it doesn’t belong anywhere,” said Mike Witt, corporate director of Plastics Circular Economy at Dow.