other INITIATIVES BPPL SECURES US$ 15MN LONG-TERM FUNDING FROM DFC Sri Lanka’s plastic recycling capabilities and infrastructure are set to soar with BPPL Holdings PLC, the country’s pioneer in the field, securing long-term funding of US$ 15 million from the International Development Finance Corporation (DFC) of the United States of America.The funds raised from DFC, the development finance agency of the United States Government, will enable BPPL to expand its monofilament and polyester yarn operations, which use plastic waste as its primary raw material.This will generate greater export earnings for Sri Lanka whilst addressing the hazardous practices of plastic disposal-one of the country’s critical environmental problems.The new funding will be used to expand operations to double the number of PET plastic bottle collection centres and the company’s bottle washing capacity, and to enhance monofilament and polyester yarn production by 40 percent and 55 percent per annum, respectively, over the next 4-5 years.“BPPL’s success in securing this funding from one of the world’s leading providers of development finance is a testament to our strength and stability, as well as an endorsement of our mission,” BPPL MD/CEO Dr. Anush Amarasinghe said.The loan provided by DFC has a 10-year tenure with a three-year grace period and is subject to regulatory approvals. BPPL HOLDINGS TRIUMPHS AT ‘BEST CORPORATE CITIZEN SUSTAINABILITY AWARD 2021’ WINNING FIRST RUNNER-UP AWARD BPPL Holdings PLC, Sri Lanka’s largest plastics recycler equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes, was presented the First Runner-up award for companies with an annual turnover below Rs. 15 billion, at the ‘Best Corporate Citizen Sustainability Award 2021’, concluded recently.The annual awards organized by the Ceylon Chamber of Commerce, the country’s premier business chamber, recognized sustainable champions of the local corporate world. BPPL Holdings’ award demonstrates recognition for the company’s use of advanced sustainable technologies and practices that mitigate pollution and waste and commitment to supporting a sustainable world. BPPL Holdings PLC has been instrumental in the manufacturing of sustainable production of eco-friendly products since inception and through subsidiaries Beira Brush (Private) Limited and Eco-Spindles (Private) Limited continues to create value with a conscience.Read More – https://www.dailymirror.lk/business-news/ComBank-wins-Best-Corporate-Citizen-Sustainability-Award-2021/273-225413 ECO SPINDLES ADDRESSES 6TH RESPONSIBLE FASHION SUMMIT ON ‘INFLUENCE CIRCULARITY IN TEXTILE INNOVATION’ Nalaka Seneviratne, CEO Eco Spindles Yarn, shared his views on the ‘Influence of Circularity in Textile Innovation’ at a recent panel discussion during the 6th Responsible Fashion Summit held in Colombo. Joining him in the discussion was Moyne Perera, Stretchline, Paige Earlam, Plexus-Cotton, UK & Africa and Joy Nunn, Purfi US & Belgium.The Responsible Fashion Summit is an annual event presented jointly by Sri Lanka Apparel and Sri Lanka’s Joint Apparel Association Forum (JAAF) was held for the 6th consecutive year. This year’s edition themed ‘‘Circularity-in-Action’, focused on the progressive journey towards achieving circularity within the supply chain of the apparel sector. The summit comprised four panels led by a set of elite panelists representing both the local and global fashion industry. Eco Spindles was among the main sponsors in supporting the summit.Addressing the audience, Nalaka discussed Eco Spindles contribution in reducing its carbon footprint through innovative technology converting post-consumer PET plastics into polyester yarn while also reducing the use of water and energy consumption. He also shared the company’s next innovation drive of recycling waste yarn/fabric back into polyester yarn.He also spoke on the need to expand partnerships and collaborations among government, public and private stakeholders to create greater awareness on waste segregation and collection mechanisms. ECO SPINDLES: ONLY COMPANY IN ASIA TO WIN GLOBAL IFS CHANGE FOR GOOD SUSTAINABILITY AWARD Eco Spindles (Private) Limited, a subsidiary of BPPL Holdings PLC was triumphant in becoming the only Asian company to receive an IFS Change for Good Sustainability Award.IFS, a renowned international cloud enterprise solutions provider, introduced the IFS Change for Good Sustainability Awards in July ‘21. The annual awards hope to highlight the outstanding work by IFS clients to make their businesses more sustainable while encouraging others to do the same.Eco Spindles has recycled over 380 million PET bottles since it commenced recycling operations in 2011. Comments from the panel of judges included “Eco Spindles has created thousands of livelihoods for their local communities”, “I love that sort of cycle of life. So many lives are being transformed because the communities are benefiting from that new way of recycling plastics”.BPPL Holdings PLC Managing Director and Chief Executive Officer, Dr. Anush Amarasinghe, stated, “We are thankful to IFS for this award as it serves as a reminder of the responsibility undertaken to find effective and permanent solutions to help preserve the natural environment. Sustainability is at the core of every business decision we take as we strive to reduce the carbon footprint we make.”Read More – https://news.cision.com/ifs/r/ifs-announces-winners-of-ifs-change-for-good-sustainability-awards-2021,c3425546 BPPL HOLDINGS: ONLY SRI LANKAN COMPANY LISTED IN FORBES ASIA’S 200 ‘BEST UNDER A BILLION’ BPPL Holdings PLC, parent company of Eco Spindles has been crowned as the only Sri Lankan company to have entered Forbes Asia’s 200 ‘Best Under a Billion’ list. The company is one of Southeast Asia’s largest brush manufacturers and Sri Lanka’s largest plastics recycler equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes. Forbes evaluated over 20,000 publicly traded companies in the Asia-Pacific region this year with revenues of under US Dollars 1 Billion and consistent top-and bottom-line growth. Companies were selected based on a composite score that incorporated their overall track record of which 200 were selected. After overcoming pandemic-related obstacles, the Group also concluded the fiscal year 2020/21 with remarkable improvements in all key financial metrics. The consolidated revenue of BPPL increased by 31% year-on-year to LKR 3.4 billion. The Group Net Profit After Tax increased by 23% year-on-year to LKR 497 million.To be recognized on an international platform such as Forbes is an enormous win noted BPPL Holdings PLC Managing Director and Chief Executive Officer, Dr. Anush Amarasinghe (pictured). HOW A YOUNG ENTREPRENEUR FINDS WORTH IN PLASTIC WASTE As industrialisation and population increase, plastic consumption on the island has seen a 16% increase, with 265,000 metric tons are consumed annually resulting in the nation battling a threatening issue – the growth in irresponsible plastic waste disposal/management.Realising the damage this could cause, a young entrepreneur, Pathum Niranjana,started P&L Industries based in Athurugiriya in 2011 at the age of 20 to collect PET (Polyethylene Terephthalate) plastic and other plastics.Youth Day, celebrated annually in August is an ideal opportunity to showcase theactions of young people who aspire to repair the earth we live in, through theirentrepreneurial decisions to solve the world’s most pressing issues.Every month, his team collects approximately 450,000 PET bottles and 70-80 metrictons of other plastics, which are sold to recyclers such as Eco Spindles, Sri Lanka’slargest plastic recycler to create value-added products.Read More – https://www.lankabusinessonline.com/opinion-young-entrepreneur-finds- worth-in-plastic-waste/ ECO SPINDLES LEADS THE WAY IN PLASTIC RECYCLING, SPINS 90 M PET BOTTLES INTO YARN EACH YEAR Sri Lanka’s largest plastic recycler, Eco Spindles, has presented a sustainable solution to managing plastic waste by recycling plastic bottles directly into yarn or monofilaments.Eco Spindles recycle and convert 90 million PET plastic bottles to polyester yarn,annually at its recycling facility, one of two plants globally capable of manufacturing yarn directly from PET plastic flakes.Eco Spindles PET plastic to yarn conversion process ensures lowest carbon footprintglobally with its unique flake using Partially Oriented Yarn (POY) technology ensuring asustainable future for the apparel industry.Using recycled plastic to create yarn, Eco Spindles has created six signature products:Ecos Green , Ecos Evolve, Ecos Oceanic, Ecos Shield, Ecos Amy, and Ecos Chroma.Its ‘Ecos Evolve’ yarn is world’s most sustainable product in recycled polyester yarn category.Read More –https://ceylontoday.lk/news/eco-spindles-leads-the-way-in-plastic-recycling A PLASTIC INTERVENTION IN ARUGAM BAY Waste Less Arugam Bay (WLAB) is an entity focused on building a green and sustainabletourist destination in Arugam Bay. Founded in 2018 by Hendrik Konzok, founder and director,WLAB, operates a manufacturing company making bags and fashion accessories from upcycled materials. WLAB is also engaged in upcycling discarded plastic bottles.Henry’s team collects about 5000 – 15,000 PET bottles discarded irresponsibly onto roads and waterways. Knowing the value WLAB creates in Arugam Bay, Eco Spindles also provides recycled polyester yarn that WLAB sources to make tote bags out of recycled plastic.Read More –http://dailynews.lk/2021/07/16/tc/254077/plastic-intervention-arugam-bay A MISTREATED OCEAN’S CRY FOR HELP In the last decade, Sri Lanka has mismanaged 1.59 million metric tons of plastic waste yearly that ultimately finds its way to the ocean. Seven out of the 12 Indian Ocean rim countries are significant plastic polluters, Sri Lanka included. The recent MV X-Press Pearl container explosion has further amplified issues around marine pollution.Appropriately discarding the plastic waste is critical. Ensuring that the collected waste is recycled is even more important. Plastic bottles collected from across the island–beaches, collection centers, and the ocean – is brought into Eco Spindles’ recycling facility in Horana. This facility recycles approximately 7,500,000-9,000,000 bottles of PET plastic waste per month.Eco Spindles, as a recycling giant leverages technology to keep count of the plastic waste collected from the beaches. Using an app, collectors input the collection numbers ensuring EcoSpindles can trace the amount of plastic collected.Read more –http://bizenglish.adaderana.lk/a-mistreated-oceans-cry-for-help/ TIME TO RESTORE: BPPL GROUP URGES SRI LANKANS TO DISPOSE PLASTIC WASTE RESPONSIBLY THIS WORLD ENVIRONMENT DAY BPPL Holdings PLC and subsidiary Eco Spindles, Sri Lanka’s largest plastic recycler has called for the responsible disposal of plastic waste across the island as the globe commemorates World Environment Day.This year’s theme, “Ecosystem Restoration” is focused on implementing a solution to a depleting ecosystem, an urgent issue faced in Sri Lanka, and across the world.Aligning with this year’s theme and playing a part as a responsible organization, the BPPLGroup has engaged in multiple waste management initiatives over the past five years. Key highlights are the collection initiatives at Sri Pada, Kataragama and Thalawila, three sites ofreligious worship that attract crowds from across the island.Read More –http://bizenglish.adaderana.lk/time-to-restore-bppl-group-urges-sri-lankans-to-dispose-plastic-waste-responsibly-this-world-environment-day/ A PET COLLECTOR’S JOURNEY AMID A RAGING PANDEMIC Though Sri Lanka has seen an increase in recyclers and plastic waste collectors, Covid-19 has presented a new set of challenges. Mahesh, a collector, has created a living by collecting post-consumer plastic waste (PET and HDPE) from hotels and hospitals in Galle. He has been in the waste collection industry for ten years, which has helped him support his family, including his two children in grades 8 and 2. Currently, he collects enough PET to fill two Tata lorries because of hotel closures, equaling 1,000 kgs a month. Before Covid-19, he collected and sent four loads, approximately 2,500-4,000 kgs of PET per month supplying Eco Spindles, Sri Lanka’s biggest recycler. Mahesh’s story is one among the over 200 collectors in Sri Lanka. Making sure that plastic ends up in recycling centers is more than just a job for Mahesh. He is doing his part to ensure that leftovers waste is recycled into new life. Read More – http://www.sundayobserver.lk/2021/05/30/business/pet-collector%e2%80%99s-journey-amid-raging-pandemic ECO SPINDLES RANKED AMONG TOP 10 RECYCLERS GLOBALLY BY THE GLOBAL RECYCLING FOUNDATION Sri Lanka’s leading plastic recycler Eco Spindles (Pvt.) Ltd, a fully-owned subsidiary of BPPL Holdings PLC, was ranked among the Global Recycling Foundation’s top ten #RecyclingHeroes of 2021.This ranking was alongside nine other contributors in the global recycling arena, namely, Rien Voets (Holland), Green Axis (Nigeria), Abdi Hirsi (Somalia), Bokashi Bran (Pty) Ltd (South Africa), EcoAct (Tanzania), International WeLoveU Foundation (Korea), Dgrade (Dubai), Eco-Train (Canada), and Metal Shredder (Hungary).The Global Recycling Foundation supports the promotion of recycling, and the recycling industry, across the world to showcase its vital role in preserving the future of the planet. The #RecyclingHeroes competition was initiated in February last year and encourages people from across the globe to nominate individuals, businesses or communities that are setting examples and pushing boundaries with their recycling initiatives.Read More – http://bizenglish.adaderana.lk/eco-spindles-ranked-among-top-10-recyclers-globally-by-the-global-recycling-foundation/ ECO SPINDLES LAUNCHES ‘WASTE 2 VALUE’ APP ON GLOBAL RECYCLINGDAY Eco Spindles (Pvt.) Ltd, a fully-owned subsidiary of BPPL Holdings PLC, launched its highly anticipated ‘Waste 2 Value’ app at a special event. The app launch coincided with ‘Global Recycling Day’ and is aimed at encouraging responsible plastic recycling among the general public and consolidate recyclable waste collection effortswithin the country.Importantly, the app was launched to help citizens locate bins more conveniently, enabling the disposal of their plastic waste properly. The app is capable of locating over 300 plastic waste bins around the island.The app can be downloaded via Google Play Store for Android and App Store for iOS andeasily locates the nearest plastic waste bin.During 2019/20, Eco Spindles had recycled over 81 million PET bottles, amounting to around 2.3 million kilograms of PET sourced mainly through the company’s 400-strong network ofregistered recyclable waste collectors and 19 baling sites.Read More –https://www.dailynews.lk/2021/03/23/business/244708/eco-spindles-launches-%E2%80%98waste-2-value%E2%80%99-app-global-recycling-day ECO-SPINDLES BREAKS GROUND ON NEW STATE-OF-THE-ART RECYCLED POLYESTER YARN FACILITY Eco-Spindles (Pvt.) Ltd commenced phase 2 of its expansion strategy to add 20,000 sq.ft of production space at its state-of-the-art facility in Horana. Already one of only two such facilities in the entire world, once completed, the expanded facility will double polyester yarn production capacity at Eco-Spindles.The foundation stone was laid by Secretary to the Ministry of Environment Dr. Anil Jasinghe together with Central Environmental Authority Director General P.B. Hemantha Jayasinghe, Board of Investment of Sri Lanka Horana Export Processing Zone Senior Deputy Director Sujeewa Thilakumara, Ministry of Mahaweli Development and Environment, Environmental Pollution Control and Chemical Management Division Director S.M. Werahera, BPPL Holdings Managing Director and Chief Executive Officer Dr. Anush Amarasinghe and Eco-Spindles (Pvt.) Ltd Deputy General Manager Manoj Udawatte, in the presence of other senior representatives from Eco-Spindles at a special ceremony held on the 8th of February, 2021. ECO-SPINDLES, HNB AND IFS COME TOGETHER FOR A PLASTIC BOTTLE RECYCLING CAMPAIGN ACROSS SCHOOLS AROUND COLOMBO Did you know: A typical Colombo household generates 3kg of PET waste every year. If disposed improperly, this waste will have an incredibly negative impact on the environment.To take on this problem, HNB and IFS established collection bins across HNB’s school network in Colombo. We handle the recycling network, collecting and transporting the waste to our recycling plants and then convert it into valuable materials for products worldwide.Our CEO, Dr. Amarasinghe, said that this campaign was for the purpose of “inculcating the habit of recycling amongst the younger generations, through numerous interactive awareness programmes”, creating a “substantial change in their mindset” and offering Sri Lanka a long term solution to plastic pollution.One day, all PET bottles will be responsibly recycled. With initiatives such as this, we take one step closer to reaching this goal. Eco Spindles partners with John Keells Group’s ‘Plasticcycle’, Walkers Tours and Road Development Authority The convenience of plastic for packaging means a large amount of waste generated by people on the go. Sri Lanka’s highways are often littered with plastic discarded by commuters.In July 2017, Plasticcycle was launched by the Social Entrepreneurship initiative of the John Keells Group with the vision of significantly reducing plastic pollution in Sri Lanka. We collaborated with Plasticcycle and the Road Development Authority to collect and recycle PET bottles from commuters on the Southern Expressway.With the help of Plasticcycle, we placed 82 branded bins at key expressway exits to promote the responsible disposal of PET bottles. The Road Development Authority collects plastics from these bins, and we bring the collection to our recycling plants.To date, this project has eliminated 5400 tons of plastic from polluting the Southern Expressway. With the success this project has seen, we hope to expand our collection network to all other major roadways in the near future. 500 SCHOOLS, 500 FUTURES In rural areas, poor disposal of plastic waste is an oft-ignored issue due to the remoteness of these communities. We took on this problem by partnering with Coca-Cola and are beginning to install 500, 25kg collection bins in 500 schools in the Central, Uwa, and North provinces of Sri Lanka.650,000 students (and their families) now have access to these recycling bins, achieving an impact on waste that is rarely seen there. We went a step further by hosting training and education programs, teaching students the methods and importance of proper plastic disposal.By providing all this, we teach our next generations how to live sustainably with an eye for waste reduction. We found that this effect had a wide reach, going as deep as local families who learn from what is taught to their children. The collection network supported by local authorities brings together both public and private sectors in a common goal of environmental protection. COMMUNITY EMPOWERMENT; WITH THE ASIA FOUNDATION AND COCA-COLA Here at Eco Spindles, sustainability is a multi-layered solution to waste: We strive and succeed at multiple socially beneficial outcomes while producing our own high-quality recycled products. This holistic approach fosters a cooperative sustainability effort from the start (citizens) to the end (Eco Spindles) of a plastic product’s initial lifecycle.In this initiative, we partnered with the Asia Foundation and Coca-Cola to establish plastic collection centers in 4 locations covering Biyagama, Galle, Batticaloa and Vavuniya. These centers provide jobs to local communities and educates them about the process and benefits of methodical and efficient recycling.These collection centers form a focal point for our sustainability efforts and education. In time we hosted number of outreach and training events for nearby marginalized groups , with the ultimate goal being employment in our facilities. They not only learn the value of recycling – they live and earn it every day at their new jobs.By bringing these men and women into the recycling economy, we hope their experience with sustainability can be further shared with the wider community. Providing the knowledge and tools to recycle correctly is invaluable and sets the foundation for a sustainable future.