By making a $15 million investment in the Circulate Capital Ocean Fund (CCOF), Chevron Phillips Chemical Company LLC reinforced its commitment to environmental stewardship. In ensuring plastics continue advancing the sustainable economy, Chevron Phillips Chemical said the investment with CCOF plays an important role.
Financing will be provided by CCOF to companies and projects to prevent the flow of plastic pollution into oceans in South and Southeast Asia and to build circular supply chains that can deliver and re-capture resources.
The company’s significant contribution marks its third major enhancement focusing on preventing ocean plastic waste in 2019.
Chevron Phillips Chemical joined the Alliance to End Plastic Waste earlier this year as a founding member. The Alliance to End Plastic Waste is a nonprofit organization with a goal to eliminate unchecked plastic waste in the environment with an investment target of $1.5 billion over five years.
Chevron Phillips Chemical joined Operation Clean Sweep Blue (OCS Blue) in April. By becoming a member of the voluntary program, the company expands its efforts to fight plastic pellet spills.
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