The Daily Update - Plastic Crisis / New Fund Launch

For those of you tired of Brexit, and the latest tweets from Donald Trump, today we thought we would focus on something far more important to worry about - plastic pollution. As Sir David Attenborough has stated, “We have to act. We have to act now to try and clear up some of the appalling damage we have made to the ocean … and that is going to require positive action”.

Since plastic was introduced in the 1950’s eight point three billion metric tons of plastic has been produced and every year 8 million metric tons of plastic end up in our oceans. By 2050, 100 hundred years since it was first introduced, plastic items in the ocean will outweigh and outnumber fish.

Leaving aside the appalling facts, much of the pollution is completely unnecessary. For example, if you like Coca Cola you can purchase a plastic bottle or an aluminium can. Both are recyclable but only 3% of a plastic bottle comes from recycled material whereas for an aluminium can that number is 70%. Plastic can be recycled but mainly into other products whereas aluminium cans are infinitely recyclable and can be back on supermarket shelves in around 60 days. Both perform exactly the same function, so it is more a question of consumer preference than anything else.

So our “positive action” here at Stratton Street is to launch the Blue Ocean Bond Fund later this year. The fund will adhere to a country based ESG solution that we have developed which scores countries on a variety of factors with countries rated on a 1-7 scale with the lower rated countries getting a lower or zero weighting.

The main point about this fund though is as an impact fund. Fifty percent of the management fees will be donated to charities or projects which either help clean up the oceans or help increase awareness of the damage that plastics can cause. Given the scale of the problem, we can only make a small difference, but if everyone made a small difference that could add up to quite a big difference.

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