World Environment Day 2018: A look at how companies are making billions of dollars from trash

By: | Updated: June 5, 2018 3:58 PM

World Environment Day 2018: Nearly 87 percent of Indians are concerned about the effects of non-recyclable waste on the environment, which includes waste products such as plastic packaging, plastic bags and other disposable objects, according to a new global survey.

book review, Waste of a Nation: Garbage and Growth in India, india sanitation, economic progressAt Nike, around 75 percent of the products, for instance, are currently made out of recycled material. (AP)

World Environment Day 2018: Nearly 87 percent of Indians are concerned about the effects of non-recyclable waste on the environment, which includes waste products such as plastic packaging, plastic bags and other disposable objects, according to a new global survey by Ipsos. The magnitude of the problem arising out of trash is huge, and demands immediate attention. Amid this, there are companies which are slowly but successfully taking large strides to come up with innovative products as a part of their efforts to fight pollution caused due to garbage. Not only is this helping in cleaning up the environment, they are also making huge moolah out of this.

Market research company NOVONOUS in its 2017 report stated that the waste management market in India will reach at $13.6 billion by 2025. A Bloomberg report mentions that around 402 tonnes of waste that is produced by Mysuru is turned into compost every day. The city charges a yearly fee plus takes 5 percent of the finished compost as payment, the report adds. Investment in waste recycling facilities could reach $3 billion by 2027, according to Assocham’s report in 2015.

Gurgaon-based waste management company ExtraCarbon has over 300 scrap dealers which are registered on its platform in six cities across India. A request can be placed on their app, website and a scrap dealer comes to collect waste. The waste producers can take cash or collect online credits.

In a shining example, Sagar Kaushik, who left his flourishing corporate career to pursue his desire of paying back to the society, runs a charitable organization – Pleasin Strides foundation –  that forays into areas including environment protection and women empowerment. The foundation is also helping the environment deal with trash through its successful waste management program, BusinessWorld report said. The money raised through it is parked in ‘girl child education’ program run by the foundation.

Adidas, globally renowned designer and shoes, clothing and accessories manufacturer produced and sold 1 million shoe pairs made out of ocean plastic in 2017, CNBC report said. In 2015, Adidas first produced a prototype  that was made from nearly 95 percent of ocean plastic. The company has since then continued to expand its line of Ultraboost, Ultraboost X, and Ultraboost Uncaged shoes.

At Nike, around 75 percent of the products, for example, are at present made out of recycled material including sneakers and jerseys. Between May 2016 and 2017, Nike also claims to have diverted more than 51 million pounds of waste materials in different parts of the world.

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