Plastic Bank aims Impact Subscription at small businesses

According to Plastic Bank, a nonprofit that builds networks in underdeveloped countries to collect and process ocean-bound plastic, small businesses account for 90 percent of the global business community, but many struggle to grow and find impactful ways to address environmental and social challenges.

Vancouver-based Plastic Bank says its Impact Subscription is designed to address this unmet need by empowering entrepreneurs to help end poverty, stop plastic pollution and grow their business with purpose.

“In waiting for more big businesses to become regenerative, we are ignoring the immense potential of small businesses to drive a meaningful transition toward a purpose economy,” Plastic Bank founder and CEO David Katz says. “If we provide entrepreneurs with the guidance and resources to integrate purpose into their business and help them build a tribe of like-minded customers who recognize and reward this shift, we can drive unprecedented growth and impact. It’s a win-win-win for the people, the planet and the businesses.”

Plastic Bank says its Impact Subscription guarantees the traceable collection of a preset number of plastic bottles by Plastic Bank’s collection community members. Gathered plastic is exchanged by members for money and social benefits including health, work and life insurance, digital connectivity, grocery vouchers, school supplies and fintech services.

“Plastic Bank is one of the most effective and important social impact initiatives around and something very close to our heart,” says Louis Beaumont, managing director and co-founder of United Kingdom-based cleaning company and Impact subscriber Hive Cleaning. “We love supporting Plastic Bank, not only to look after the planet but also to lead by example, at least in our industry, amongst our clients, suppliers and other stakeholders.”

Through their Impact account, Plastic Bank says small businesses get access to tools and resources that help communicate their commitment to regenerative practices and the purpose economy. These include stories, photos, videos and social media content from collection communities; dedicated web pages showcasing their real-time tangible impact; ready-to-deploy in-store materials for retailers; and downloadable impact certificates showcasing the amount of plastic the business has helped gather from the environment.

Plastic Bank points to a 2022 Google Cloud study that reveals 82 percent of shoppers support brands that align with their values; 66 percent search for eco-friendly brands; and 55 percent say they would pay a premium for sustainable products.

More information on the Impact Subscription can be found here.