Mubadala’s petrochemicals assets are at the forefront of global efforts to reduce plastic waste, combat marine pollution and enhance recycling.
Borealis, a leading provider of polyolefin and polypropylene plastics, was a founder and is a core funder of Project STOP, a global initiative launched in 2016 to reduce marine pollution in countries with a high leakage of plastics into our oceans.
Project STOP has three objectives:
It has now joined Borealis and others in funding Project STOP and has committed to a three-year investment of nearly US $2 million into the project. The initial phase will see the establishment of the first city partnership in Indonesia, the world’s second largest source of marine plastic debris, after China. This partnership initiative will take place in Muncar, East Java with expansion planned in other areas of South East Asia.
NOVA Chemicals - another Mubadala asset - produces high quality polyethylene in North America.
NOVA is a founding member of the Alliance to End Plastic Waste, a non-profit made up of 30 cross-industry companies committing US $1 billion over five years to recycling infrastructure, research and waste clean-up through company directed spending and funding of the non-profit.
Additionally, NOVA is working closely with its customers to develop food packaging that enhances the preservation and freshness of the contents, and utilizes single polymers that can be recycled without compromising on functionality.
Borealis is also involved in other initiatives to reduce waste and enhance recycling, including through the acquisition of Ecoplast, the Austrian plastics recycling company. Ecoplast processes around 35,000 tons of post-consumer plastic waste from households and industrial consumers every year, turning them into high-quality polyethylene recyclates, primarily for the plastic film market. They have also partnered with Henkel, the world-leader for adhesives, sealants and functional coatings, to launch a new packaging solution produced entirely with post-consumer recycled (PCR) material. The collaboration will also involve two additional value-chain partners, including German plastic processor KKT Kaller Kunststoff Technik GmbH.
OMV, in which Mubadala also holds a significant interest, is has developed proprietary technology (“ReOil”) to liquefy and process plastic waste into naphtha-equivalent feedstock in the company’s pilot facility in Austria.
As a responsible investor, Mubadala is keen to see and support all its businesses contributing proactively to sustainability across the globe.