Plastics alliance backs circularity fund

The Alliance to End Plastic Waste and Lombard Odier Investment Managers plan to raise $500 million for a fund that will invest in plastic circularity. Lombard, a Luxembourg-based firm that oversees about $72 billion in assets, will manage the fund. The alliance, made up of about 70 plastics producers, including Dow and LyondellBasell Industries, will be a cornerstone investor and advise on questions about technical feasibility and commercial viability. The fund will invest in firms pursuing collection and sorting infrastructure, recycling technology, and new polymer chemistries.