United Nations
#OceanAction15055
Clean Tax Cuts for Plastic Waste Reduction
by Ocean Recovery Alliance (Non-governmental organization (NGO))
Ocean Recovery Alliance, Mission Blue, The Grace Richardson Fund commit to convene a policy design charrette in New York City during Climate Week this September 2017, to explore the application of the new clean tax cuts (CTC) policy concept to plastic waste reduction, and potentially other ocean issues. The goal of the charrette will be to design simple, practical, high-impact CTC proposals capable of rapidly reducing plastic waste.

Clean Tax Cuts are supply-side tax cuts which target primarily capital tax rates investors pay on debt and equity in clean investments (defined as those which reduce waste, inefficiency and negative externalities). Targeting capital tax barriers accelerates capital to and demand for clean solutions simultaneously, by increasing profits and reducing costs of both capital and outputs for those solutions and technologies. CTC employs carrots, not sticks, and picks metrics, not winners or losers. CTC employs only positive (rather than negative) feedback loop mechanisms to reward and accelerate all profitable, sustainable technologies that reduce or monetize waste… to avoid punishing or demonizing anyone. This simple, positive design helps CTC align conservative, progressive, consumer and business interests on energy, environmental protection, and economic growth.

First publicly suggested by the Grace Richardson Fund in June 2016, CTC has since then been developed entirely using a charrette design process recommended by Amory Lovins, Chief Scientist at Rocky Mountain Institute. Eight CTC charrettes have been held since September 2016, designing high impact CTC applications for the following sectors and markets: green bonds, electric power, transportation, clean tech, farming and forestry, oil & gas, and energy efficiency in real estate. Reports and proposals from those charrettes can be found at www.cleantaxcuts.org.

Clean Tax Cuts may help drive a variety of plastic waste reduction solutions: source reduction strategies, new, cleaner waste-to-fuel technologies, use of alternative biodegradable materials, and circular economy solutions that make waste plastic a valuable feedstock for other products and fuels, to incentivize plastic waste collection and recycling.

Proposals will be presented for public and expert review by December 2017. Proposals will include both national and international frameworks for consideration. An initial exploratory meeting will be held for interested participants on June 6 at Columbia University, details to be announced. - See more at: https://oceanconference.un.org/commitments/?id=15055#sthash.eO1wRPvE.dpuf

Progress reports
14.1
By 2025, prevent and significantly reduce marine pollution of all kinds, in particular from land-based activities, including marine debris and nutrient pollution
Type of commitment
PLASTICS
  • Other (please specify): Clean Tax Cuts for Plastic Waste Reduction Infrastructure, Technologies and Solutions
  • Plastics recovery/recycling/reuse:
December 2017
Creation of a framework model for implementation for Clean Tax Cuts for Plastic Waste Reduction
June 2017
Facilitation of the first working group of a selection of stakeholders and experts to introduce the Clean Tax Cut program and strategy
Other, please specify
Facilitation of dialogue with expert stakeholders to create the framework for the Clean Tax Cut mechanism
Basic information
Time-frame: May 2017 - December 2020
Partners
Ocean Recovery Alliance (NGO), Mission Blue (NGO), Grace Richardson Fund (Philanthropic Organization), IUCN (NGO) and other partner organizations will be included.
Ocean Basins
  • Global
Beneficiary countries
Other beneficaries
The framework for this program will be replicable across any country that might wish to adopt a similar type of program and incentive system for industry and plastic waste reduction (via clean solutions).
Contact information
Doug Woodring, Founder, doug@oceanrecov.org, (852) 9020-3949
Hong Kong, Special Administrative Region of China
Other SDGs
United Nations