New impact investment management firm issues call for proposals on recycling solutions that remediate and prevent ocean plastic in South and Southeast Asia

Ocean plastic presents an enormous challenge in Asia. According to research by the Ocean Conservancy, a 45% improvement in plastic leakage is possible by improving waste management and recycling in China, Indonesia, Vietnam, the Philippines and Thailand.

Circulate Capital, a new investment management firm dedicated to financing companies, projects and infrastructure that prevent ocean plastic, announced a Request For Proposal (RFP) process for businesses seeking capital to accelerate solutions to the oceans plastic problem. The firm will invest in Asia-based entities in the solid waste management and recycling sector that remediate the flow of mismanaged plastic to the world's ocean.

"South and Southeast Asian countries produce the most plastic waste, but largely because they lack the necessary waste infrastructure to manage the problem," said Rob Kaplan, founder and CEO of Circulate Capital. "Financing innovative local companies that are working to address the challenge is a critical step to reducing the flow of ocean plastic and also key to improving economic development and public health outcomes."

Circulate Capital was launched in partnership with Closed Loop Partners, a firm that invests in sustainable consumer goods, advanced recycling technologies and the development of the circular economy, and Ocean Conservancy, a leading nonprofit environmental advocacy organization working to protect the world's ocean, and is backed by many of the world's largest consumer product goods and chemical companies, including 3M, The Coca-Cola Company, Kimberly-Clark, Dow, PepsiCo, Procter & Gamble, American Chemistry Council, and the World Plastics Council, which provided seed capital alongside the founding partners.

PEMSEA, through the East Asia Ocean Investment Facility (EAOIF), is working closely with Circulate Capital as a regional partner and member of its steering committee.

RFP DETAILS

Entities operating in the collection, sorting and processing or recycling and end market segments of the waste management supply chain are invited to submit investment proposals.

Collection and Aggregation

The initial collection of waste materials from point of disposal, including subsequent aggregation and transportation, through to sorting.

Sorting and Processing

The process of separating mixed solid waste into its component commodity streams (e.g., paper/cardboard, metals, glass, and PET, HDPE, and mixed plastics).

Recycling and End Markets

The transformation of "waste" plastics into new products (e.g., post-consumer recycled resins, chemicals, and other high-value products).

Circulate Capital is principally interested in opportunities starting in five countries: Indonesia, the Philippines, Thailand, Vietnam and India, but other Asian countries may be considered. The firm is particularly interested in projects that offer:

Opportunities to implement more efficient collection and aggregation, new infrastructure, and/or to apply more professional management, within the existing infrastructure, including the informal sector (e.g., "waste or rag pickers"), for plastic and other commodities within the waste stream;
Opportunities to galvanize underutilized assets that may contribute to more efficient collection, sorting, and recycling or end use of plastic and other commodities within the waste stream; and
Technologies/materials/applications/projects that can contribute to either of the foregoing.

Businesses that are interested in learning more about the RFP process and submission requirements may visit the Circulate Capital RFP web page or contact David Pangan, PEMSEA Investment Specialist at dkpangan@PEMSEA.org for more details.

PEMSEA is the executing agency for several GEF IW projects including, EAS Scaling up the Implementation of the Sustainable Development Strategy for the Seas of East Asia , Implementation of the Arafura and Timor Seas Regional and National Strategic Action Programs, Applying Knowledge Management to Scale up Partnership Investments for Sustainable Development of Large Marine Ecosystems of East Asia and their Coasts.

UNDP / CLME+ Project

UNDP / Global Marine Commodities Project

UNDP-GEF Kura II Project