[ad_1]
NEW YORK, Feb. 13, 2024 (Globe Newswire) — Today, Repurpose Global, a leading sustainability action platform, is pleased to announce the launch of its pioneering initiative, the Reuse Outcomes Fund. The $1 million fund is designed to leverage results-based financing to address the global plastic pollution crisis and promote equitable access to reuse and replenishment solutions.
Plastic pollution poses a serious threat to our environment and all life on Earth. According to a recent United Nations report, Turning Off the Faucet, a transition to a truly circular economy is the most effective approach to combating plastic pollution, with reuse, refilling and new delivery models helping to reduce plastic by around 30%. 70% is achievable. However, the reuse movement faces several complex barriers, including inadequate infrastructure, high implementation costs, and a lack of flexible funding for early-stage innovators, which are hindering its growth and adoption. It has become.
The Reuse Outcomes Fund aims to finance the deployment of critically lacking reuse and refill infrastructure, particularly in FMCG, food service and delivery, grocery stores, e-commerce, and retail. We are focusing on engaging the consumer goods sector, which has a high use of single-use plastics. Within these sectors, the new fund by Repurpose Global will support infrastructure for replenishing water and other beverages, reuse and reverse logistics models for food and grocery delivery, e-commerce and brick-and-mortar stores. The company is targeting three promising solution archetypes: returnable packaging.
The Reuse Outcomes Fund works to build a circular economy for everyone, with a particular focus on solution models that serve low- and moderate-income communities in the United States, Canada, and India. The new fund will also operate on a pioneering transformation theory centered around outcomes-based financing (OBF). Unlike traditional philanthropy and profit-oriented investments, Repurpose Global funds the implementation of reuse solutions with the sole purpose of achieving measurable results. Additional verifiable environmental outcomes (e.g. tons of plastic waste avoided). Prioritize impact interests over economic interests. This approach helps ensure that the most effective and impactful solutions receive the support they need.
In addition to directly scaling solutions, the Reuse Outcomes Fund will also address systemic challenges related to increasing the adoption of reuse and refilling. As part of the Fund, Repurpose Global will help drive the development of reliable frameworks and implementation standards aimed at guiding the scaling up of waste reduction models globally. The organization also plans to build a knowledge repository that documents project implementation best practices and makes it transferable and replicable.
“At Repurpose Global, our mission since our founding has been to bring people together to create systems change to address the most pressing social and environmental issues facing the world, and we are committed to driving the reuse movement. This new initiative is a timely and important extension of that mission,” said Suvanika Balasubramanian. Repurpose Global CEO and Co-Founder.
“Imagine a world where everything we use is given another life. Refrigerators stocked with disposable products are replaced with refill stations in every convenience store, and a ‘milkman’ model delivers essentials. has become the norm rather than the exception. ” Peter Wang Hjemdahl, Chief Innovation Officer and Co-Founder, RePurpose Global. “This vision that reuse trumps disposable and is accessible to all segments of society, not just around the world, is the guiding philosophy behind our new Reuse Results Fund.”
###
About Repurpose Global
RePurpose Global is the world’s leading plastic action platform, bringing together brands, consumers, innovators, and policy makers to collectively fight the plastic waste crisis. The organization has helped more than 300 companies measure, reduce and take action on plastic emissions, driving systems change globally through pioneering solutions across the circular economy value chain. I did. Impact Reuse Projects have so far removed more than 23 million kilograms of plastic waste from the environment, protecting vulnerable coastal areas in the Americas, Africa, and Asia. In doing so, the organization has enabled the delivery of waste management services to millions of people around the world, while positively impacting the lives of thousands of marginalized waste workers. Ta. Founded in 2016, RePurpose Global currently employs over 70 full-time team members in offices around the world. For more information, please visit https://rePurpose.global/.
contact address:
Yul PR
repurpose@yulupr.com
-
Reuse services in the food industry
[ad_2]
Source link
