“We all agree...someone needs to do something about ocean plastic. This is the something, you are the someone.” David Katz, CEO of Plastic Bank. Today is World Oceans Day, observed by United Nations member states to bring discussions, policies, and people impacted by ocean and coastal degradation worldwide. In Episode 58, Sheri Hinish (SupplyChainQueen) chats with Plastic Bank CEO and Founder, David Katz, who describes himself as a creator in world who wants to make an impact improving the quality of life for others, connected to the ocean, poverty, and improving marine life. David's company is empowering the regenerative society turning plastic into gold by revolutionizing the world’s recycling systems to create a regenerative, inclusive, and circular plastic economy POWERED by supply chains. Clients include Henkel, SC Johnson, and Aldi to name a few.
The Plastic Bank builds ethical recycling ecosystems in coastal communities, and reprocesses the materials for reintroduction into the global manufacturing supply chain. Collectors receive a premium for the materials they collect to better help them provide basic family necessities such as groceries, school tuition, and health insurance.Collected material is reborn as Social Plastic® which is reintegrated into products and packaging. This creates a closed-loop supply chain while helping those who collect it. Plastic Bank is creating a new monetary standard in new school banking systems. Using a proprietary blockchain platform secures the entire transaction and provides real-time data visualization: allowing for transparency, traceability, and rapid scalability.
In this episode, David challenges the concept of "the plastics problem" and says it's an "us problem". Describing the short-sightedness of convenience, he is on a mission to change the paradigm so people view the material differently in a world where everyone is part of the solution, not pollution. We explore secondary plastics, the social impact and need for a regenerative economy, how supply chains make it happen, and the creation of new standards and economies enabled just by thinking about materials differently, where waste is resource, We unpack ocean health and some stats around plastics. Also how we must urgently turn off the tap of virgin plastics. In closing David urges us to think about "what if it was profitable to have more love in the world and be stewards of the oceans, the people and marine life"? What an inspirational story to share on World Oceans Day.
To learn more about David, visit https://plasticbank.com/