SMI ESG Strategy - Flipbook - Page 14
PROJECT 2:
CARBON OFFSET &
OCEAN PROTECTION
This worldwide project focuses on cleaning up the
plastic from the ocean, with additional efforts in
regional areas providing sustainable renewable
energy through solar energy and wind farms. These
combined projects are committed to collecting
10kg of plastic for every tonne of CO2 that is offset,
having a positive environmental and social impact.
The ocean is a natural carbon sink that absorbs and
stores a quarter of the carbon from the atmosphere,
meaning healthy oceans are key to stabilising the
climate. Over 8 million tons of plastic waste ends
up in the ocean every year, polluting the ocean and
endangering the marine wildlife. The majority of
developing countries have limited infrastructure for
proper waste disposal creating an environmental
threat.
Therefore, Plastic Bank have spearheaded a
project with local communities where members can
collect plastic in return for a fair and stable income,
alongside access to fresh food, clean drinking water,
toiletries and access to finance for their children’s
education. The charity has provided over 2,300 jobs
so far. These social benefits help members, and
their families improve their overall way of life; as
poverty, sanitation, health, and access to a source
of income are all made more accessible.
In addition to the pledge to protect the ocean
this project has off set carbon through the below
renewable energy ventures:
•
•
•
Solar energy for sustainable power in the Indian
states of Maharastra, Orissa, Jharkhand,
Gujarat, and Andhra Pradesh.
A wind farm on the Philippine Island of Luzon
ensures an increasingly independent supply of
clean electricity for the population.
And on the Caribbean Island of Aruba, a wind
farm provides a sustainable alternative to
electricity from fossil fuels.
CONTRIBUTION TO THE UN SUSTAINABLE DEVELOPMENT GOALS (SDGS)
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ENVIRONMENTAL I SOCIAL I GOVERNANCE
