May 2013 – David Katz attended a 10 day course at Singularity University with the goal to conceive a new business idea. He was determined to create a triple bottom line (People, Planet, Profit) social enterprise with the potential to impact a billion people or more. On the second day he had an epiphany that was immediately followed up with this phone call.
“I’ve figured out our new business. It’s called The Plastic Bank. We make plastic waste a currency to help the world’s most disadvantaged people. I’ve come to realize that the problem with plastic waste, is that people see it as waste. But if we can reveal the value in plastic, we can make it too valuable to throw away. If we can reveal value in people, we can unleash the potential of the world’s most disadvantaged and give them a platform to improve their lives. That’s my vision. It’s a triple bottom line social enterprise. We reveal value in plastic and it will have a domino effect on the world. What do you think?”
“Love it. Let’s Make it Happen.”Shaun Frankson
On May 24 2013, they went to work creating The Plastic Bank. David focused on financing the business and attracting the right partners. Shaun coined the term Social Plastic® and created the social media and brand strategy to introduce The Plastic Bank to the world. Over the next year The Plastic Bank was featured in over 200 interviews worldwide.
A Partner in LUSH Cosmetics
In 2014 LUSH promoted The Plastic Bank on their charity pots. LUSH officially became the first buyers of Social Plastic® when they agreed to purchase all of the recycled HPDE from the shore line clean up pilot project. In 2015 LUSH will be using Social Plastic® in their Sea Spray bottle line.