Today we produce about 300 million tons of plastic waste every year and The United Nations estimates of that 8 million metric tons of plastic enter the world's oceans.
Plastic pollution not only harms marine wildlife, but also affects human health and the economy. With only 10% of worldwide plastics being recycled, without systematic change our oceans could contain more plastic than fish by 2050.
Ocean bound plastic is defined as an abandoned plastic waste located 50km from shores where waste management is inexistent or inefficient.
Ocean-bound plastic has a devastating impact on marine life. It is estimated that over 1 million seabirds and 100,000 marine mammals die each year due to plastic pollution. Plastic waste can also affect human health. When plastic breaks down into microplastics it can enter the food chain with potential health risks for those who consume seafood. Plastic pollution also has an economic impact, a study by the Ellen MacArthur Foundation estimated that the cost of plastic pollution to the world economy is $2.2 trillion per year.
A study by the Ellen MacArthur Foundation estimated that the cost of plastic pollution to the world economy is $2.2 trillion per year.
The Ocean Recovery Group (ORG) is working on our planet’s ocean plastic crisis with a focus on the western hemisphere. Their team, with over 110 years of recycling experience, are using unparalleled expertise to improve collection, cleaning, and recycling of Ocean Bound Plastics (OBP) in the Western Hemisphere starting in the Dominican Republic.
The US based company has successfully launched their Caribbean ORG collection facility in the Dominican Republic. The Dominican Republic's location, lack of recycling infrastructure, and inefficient waste management systems have made it a significant contributor to ocean pollution in the region.
The team at ORG helps support a broken system; the Dominican Republic has over 350 unmanned landfills and a lot of the plastic that gets disposed of ends up in our oceans.
The Ocean Recovery Group has a top-of-the-line facility with equipment and management systems to safely sort, clean, shred and bale OBP. The Ocean Recovery Group’s goal for 2023 is to recover 24MM LBS of Ocean Bound Plastics
The Ocean Recovery Group’s goal for 2023 is to recover 24MM LBS of Ocean Bound Plastics equating to 528 Million plastic bottles.
Ocean Bound Plastics Certification
The OBP Certification Program was developed by non-profit Zero Plastic Oceans in collaboration with Control Union. This highly regarded certification is only achievable by companies that demonstrate the proper controls and chain of custody to collect and recycle Ocean Bound Plastic.
On April 18th, 2022, ORG became the first US-based organization to receive ZPO certification for collection, recycling, and neutralization. This certification ensures that ORG's collection efforts and recycling operations are maintained at the highest industry standards.
Ocean Recovery Group is committed to economic, social, and environmental advancements in the communities they serve, and is working to get and keep local kids in school. In 2023 the company is embarking on an ambitious mission to provide necessities such as food, shoes, and clothing for underserved communities in the Dominican Republic.
“The Ocean Recovery Group is focused on raising awareness to the crisis of plastics in our oceans while building a system that can be duplicated in other countries to help with collection efforts.” said Dave Kumar, Director of Sustainable Trade and Corporate Partnerships.
Plastic Credits
ORG is also at the forefront of alternative economic models and uses Plastic Credits as an economic driver to facilitate a sea change in the use of plastics. For each metric ton of plastic waste removed from the environment, recycles or sent for energy recovery, ORG aims to create a “Plastic Credits”. These Plastic Credits allow companies to further up the ante on their Corporate Social Responsibility.
These credits are applied to the United Nations Sustainable Development Goal (commonly referred to as SDG11), supporting adequate, safe, and affordable housing and basic services such as waste collection. For each Plastic Credit purchased, ORG invests in social housing and community-based sports and education program(s). Each Plastic Credit transaction secures and maximizes ORG’s Social return on investment (sROI) dedicated to create social value for every $1 invested in the Dominican Republic.
At FUTR Impact Capital we applaud the work and mission of the Ocean Recovery Group. The Organizations dedicated to solving Ocean bound plastic, investment in technology, and their commitment to bring trust and transparency to the sector makes them an example of a FUTR PROOF Company.
To learn more about Ocean Recovery Group visit the links below:
OceanRecoveryGroup.com | Instagram | LinkedIN | Twitter
