Indorama Ventures Public Company Limited, a global sustainable chemical company, proudly announces its achievement of recycling 100 billion post-consumer PET bottles since February 2011[1]. This significant milestone has contributed to the diversion of 2.1 million tons of waste from the environment, leading to a reduction of 2.9 million tons of carbon footprint throughout the product lifecycles[2]. As part of its commitment to support the establishment of a circular economy for PET, Indorama Ventures has invested over $1 billion in the past decade towards collecting and recycling used PET bottles.
The Founder and Group CEO of Indorama Ventures, Mr. Aloke Lohia, expresses his gratitude towards consumers and global brand owners for their active participation in recycling and utilizing recyclable packaging. He emphasizes the need for collective action and swifter efforts to address the waste challenge. In March 2020, the company celebrated the milestone of recycling 50 billion PET bottles in nine years. Remarkably, Indorama Ventures has now achieved the recycling of 100 billion PET bottles within three and a half years.
“By recycling post-consumer PET bottles into new bottles, we assign economic value to waste. This in turn stimulates improvements in waste collection systems, resulting in less waste and a cleaner environment. Over the past decade, we have allocated more than $1 billion towards developing waste collection systems for used PET bottles. We remain dedicated to our long-term focus on circularity,” says Mr. Lohia.
Indorama Ventures is backing its commitment with a further $1.5 billion investment to expand its recycling business. To promote higher recycling rates globally, the company has expanded its recycling facilities, infrastructure, and public education programs. As the most recycled plastic globally, PET plastic used in soft drink and water bottles holds a prominent position. Indorama Ventures’ recycling achievements align with the company’s position as the world’s largest producer of recycled resin used in plastic beverage bottles. In addition to this, the company seeks advanced technologies to enhance recycling infrastructure worldwide and curb lifecycle carbon emissions.
Currently operating in Asia, the Americas, and Europe, Indorama Ventures boasts 20 recycling sites. Recent notable expansions include the doubling of recycling capacity at a site in Brazil and the opening of PETValue, the largest bottle-to-bottle recycling facility in the Philippines, in collaboration with Coca-Cola. These developments are supported by the $300 million ‘Blue Loan’ received by Indorama Ventures in 2020 from the International Finance Corporation (IFC) and the Asian Development Bank, with the purpose of increasing recycling capacity and reducing plastic waste in several countries.
In its pursuit of educating consumers about recycling, Indorama Ventures has partnered with the Yunus Foundation, a leading non-profit organization promoting sustainable development. The company aims to educate one million consumers globally about recycling by 2030 and has already reached over 200,000 individuals.
Mr. Lohia concludes, “Sustainability lies at the heart of our company. These accomplishments exemplify our dedication to environmental sustainability and our ambition to establish a truly circular economy for PET packaging. Reaching this milestone signifies our planet’s growing commitment to sustainability. Each recycled bottle represents a tangible reduction in waste and brings us closer to a world where no packaging ends up as litter or waste. We are proud of the positive change that can occur when we collaborate to support PET recycling and strive for a more circular world.”
[1] The figure of 100 billion PET bottles is based on an average weight** and the overall height of on-the-go PET water and soda bottles, equivalent to the volume recycled at Indorama Ventures recycling sites between February 2011 and September 2023.
(International Bottled Water Association)
** Weighting is in accordance with The International Bottled Water Association.
[2] Indorama Ventures’ Life Cycle Assessments (LCA). Calculations are accurate as of September 25, 2023.
