Plastic Oceans is attempting to shine a light on the huge problem of plastic pollution in the oceans (and now our food chain). Recently, they founded “Plastic Conscious,” an organization with the goal of increasing return-on-investment when reducing single use plastics. Part of their strategy is to enable consumers to actively steer purchases towards firms that reduce single-use plastic, by creating a global standard, brand, and logo that products can carry.
Under current projections, by 2050 there will be more plastic than fish in the sea. Microplastics have entered our food chain – all of us are eating them on a daily basis, and they are known to cause cancer. Yet no practicable solution exists to address this environmental and health issue, and volumes of single-use plastics continue to grow. This is a global problem, and we all need to be part of the solutionPeter Reynolds, Partner, Oliver Wyman
In the first phase of Oliver Wyman’s work, we ran a feasibility study on the idea to assess what Plastic Conscious goals should be and how it can set itself up as an organization. We interviewed several large retail & consumer goods (RCG) firms, scientists, and other nonprofits to discuss the approach.
The initial findings were that the idea has merit but requires the coming together of several nonprofits. This led to a collaboration with the Ellen MacArthur Fund, where we further developed the idea and business plan. We converged on the option of a more digital-based approach, potentially extending to the full circular economy (beyond plastics).
Oliver Wyman was instrumental in deep diving into a highly detailed study on the feasibility of launching a logo to aid consumer awareness in plastics. Oliver Wyman pulled together parties who are now driving this project further and with greater depth of analysis, particularly with the Ellen MacArthur Foundation. They continue to support both parties through the development process providing valuable research, consultancy, and data pointsMatt Reid, Co-Founder, Plastic Conscious
We took the idea from conception to a solid business plan and received clear buy-in from a range of participants.