United Nations
#OceanAction24196
Closed Loop Ocean Funding Mechanism
by Closed Loop Partners (Private sector)
Closed Loop Oceans is designed to fund waste management and recycling solutions in Southeast
Asia, with a focus on investments to improve collection, sorting and recycling markets that
prevent plastics from entering the environment. Nearly half of the plastic that flows into the
ocean every year an estimated eight million metric tons escapes from waste streams in just
five rapidly developing economies in Asia.
The market-based investment strategy and supporting mechanism is modeled after CLPs proven
U.S. investment strategies for waste management and recycling. This mechanism aims to
catalyze investments from larger, less nimble actors such as development finance institutions by
demonstrating solutions and building a pipeline of projects. It expects to deploy a combination
of grants and concessionary capital to build recycling and waste management infrastructure as a
tool to demonstrate investment viability and maximize recycling profitability.
Effective waste management reduces plastics waste leakage, leads to healthier citizens, creates
jobs, and reduces emissions. It is also a critical component to making a circular economy
function, ensuring that materials can be recovered for reuse and recycling. This initiative aims to
solve the root causes of plastics in the ocean by investing in the systems and emerging
technologies needed to capture and transform waste into valuable commodities before it reaches
marine environments, while also providing tangible benefits to communities.
The initiative aims to share the results of its initial phase of work within the next year to help
build the field of investors looking to deploy capital into this market.
Updates to voluntary commitment
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
  • Plastics recovery/recycling/reuse
12/2022
Raise approximately $150m USD for investment in waste management
Financing (in USD)
150,000,000 USD
Updates
#OceanAction24196
Basic information
Time-frame: 10/2017 - 12/2022
Partners
Ocean Conservancy, Trash Free Seas Alliance, 3M, PepsiCo, Procter & Gamble; The Coca-Cola Company, World Plastics Council, American Chemistry Council
Ocean Basins
  • North Pacific
  • South Pacific
Beneficiary countries
Other beneficaries
Contact information
Stewart Harris, Director, Marine and Environmental Stewardship, Plastics Division, stewart_harris@americanchemistry.com, +12022496626
Washington, DC, USA
Other SDGs
United Nations