Why does this matter? As many of us head off to the beach for our summer holidays, this study serves as a sobering reminder that ocean plastic pollution is an ever-growing issue. As more tourists flock to coastal areas, the volume of single-use plastics, such as bottles, wrappers and bags, often increases, much of it ending up in the sea. It should also make us more mindful of how we dispose of waste and consider using more reusable items.

Nano plastics, which are less than 1,000 nm across and invisible to the eye, can enter the ocean through multiple channels. For example, sunlight, ocean turbulence and temperature fluctuations cause larger plastic items to degrade into smaller particles, eventually reaching the nanoscale.

Nano plastics and larger microplastics – particles less than 5 mm across – resulting from industrial processes, washing synthetic fibres and tyre abrasion, among others, can also flow in from rivers or descend from the air. With an estimated 14 million mt of plastic leaking into the ocean every year, a figure that continues to rise, critical measures are needed now to address the problem.

The study also identified polyvinyl chloride (PVC) and polystyrene (PS) in the collected samples. However, the researchers’ estimate is likely conservative as they were unable to detect two other major classes of plastics known as polyethylene (PE) and polypropylene (PP), although it is highly probable that these also enter the ocean. The team plans further investigations to understand if these particles were obscured by other molecules in the study. They also want to determine if nano plastics are as prevalent in oceans elsewhere.

Recent research has revealed that micro and nano plastics are ingested by a broad range of aquatic species, from microalgae to predators such as eels, with harmful effects including digestive blockages, immune responses, DNA damage and altered gene expression. The severity of these impacts depends on particle size, chemical composition and degradation. Many plastics also contain endocrine disruptors that interfere with hormonal systems.

Ultimately, these particles enter the human food chain, with regular seafood consumers ingesting thousands every year. While health effects are still being studied, early evidence suggests similar risks in humans, including cellular disruption and exposure to toxic additives. Nano plastics may also act as vectors for pathogens or bacteria, potentially raising the risk of infectious diseases.

Another recent study highlights that micro- and nano plastics are discharged in sea sewage spills. When combined with coastal winds, billions of these particles could lift from the sea and enter the air around coastal towns and cities and be inhaled by residents, posing another potential route for the health risks linked to plastics. The authors have urged the UK government to require water companies to filter out micro- and nano plastics from their wastewater.

Still, removing the vast amount of nano plastics already in the ocean is impossible with current technologies. Instead, the focus must be on prevention. Recycling efforts are key, and the global market for recycled ocean plastics is gaining robust momentum. According to a Custom Market Insights report, it is expected to be worth approximately $1.9 billion this year and could reach $3.5bn by 2034.

Bureo is one such company operating in this space, taking discarded fishing nets and transforming them into 100% recycled raw materials used by household names such as Toyota, Patagonia and Trek. Another player in the area is AION, which recycles ocean plastic into everyday items such as shopping baskets and trays that can be returned for further recycling in a truly circular approach.

Beyond recycling, the world must simply use less plastic. Currently, more than 400 million mt of plastic is produced annually and could triple by 2060.

The next meeting to create the legally binding Plastics Treaty will take place from 5 to 14 August in Geneva, Switzerland. This will attempt to finalise the text after negotiations stalled at the previous round of talks in Busan, South Korea, in late 2024. Nevertheless, at the close of that meeting, 100 countries warned there could be no treaty without a cap on plastic production, a call that was reiterated at the UN Ocean Conference in June. The world will be watching to see if this can finally be achieved in the coming weeks.

Why does this matter? Plastic pollution is one of the gravest threats to marine environments, aquatic biodiversity, and the communities and industries that rely on the planet’s oceans. Despite this, plastic production, consumption, and pollution continue to rise, with the world consuming four times more plastic than it did in the 1990s.

The IMO’s appeal to the fishery and shipping sectors is crucial as these industries contribute significantly to marine pollution. For example, 640,000 tonnes of lost or discarded fishing gear – known as “ghost gear” – enter the ocean annually, accounting for around 10% of global marine plastic pollution.

Shipping, on the other hand, is responsible for large amounts of microplastic pollution, often via spills of plastic pellets.

Alongside the IMO’s proposed anti-plastic pollution alliance, several national governments have taken decisive action.

Barbados, a state that is disproportionately impacted by plastic pollution, launched a new National Action Plan in July aimed at reducing plastic pollution by 73% over the next decade.

Action was taken after the UN-endorsed Plastic Drawdown tool revealed that 500 tonnes of plastic had seeped into the Barbadian environment in one year, heavily polluting the island’s seas.

Five key policies form the basis of the National Action Plan. Among these, a ban on single-use plastic bags, a relaunch of the country’s plastic bottle return scheme, and improvements in the separation of recyclables.

Fiji also banned single-use plastic in 2021 as it fights its own battle against marine plastic pollution, of which just 28% originated from the Pacific Island.

Despite the emergence of meaningful action on a regional and industrial level, international plastic treaty progress has been frustratingly slow. In March 2022 at the UN Environment Assembly, 175 nations committed to formulating a legally binding treaty aimed at tackling the full life cycle of plastics.

The aim was to have a legally binding agreement focused on curbing plastic pollution agreed upon by 2024 or 2025. A draft has since been drawn up, but significant differences over the treaty’s scope remain.

Fossil fuel-producing nations argue that recycling and clean-up are the solution. However, the 127 members of the “High Ambition Coalition” propose more stringent production curbs and restrictions on their use in certain products.

While the global community struggles to mount a coordinated attack on marine plastic pollution, innovative companies, such as Novelplast, are developing solutions. Instead of a waste product, the company treats used plastic as a valuable resource by upcycling used PET and polyester feedstocks into recycled products.

With the plastic production industry expected to double in capacity by 2040, re-evaluating society’s perception of plastic from a single to multi-use material is key to reducing pollution levels.

Bureo is another firm championing a similar mindset by converting abandoned fishing nets into high-quality fabrics. The company has established collection initiatives in six countries, successfully recycling over 4.5 million kg of nets since 2013.

As plastic continues to pollute the planet’s oceans, the tireless work of innovative companies, industry groups, and regional governments hold the key to ensuring meaningful reductions to marine plastic pollution. The world’s oceans cannot wait for world leaders to reach an agreement.

Why does this matter? Microplastics, categorised as plastic particles under 5 millimetres in diameter, can endure for hundreds to thousands of years in the environment.

These tiny pollutants have permeated the air we breathe, the food we consume, and the water we drink. It’s estimated that some individuals may ingest an amount of microplastics comparable to the size of a credit card each week.

Controlling microplastic pollution is one of the key challenges of our time, but progress has been slow so far. The extent of microplastic pollution cannot be overstated.

Last year, contestants participating in The Ocean Race found microplastics in every water sample taken along its 32,000 nautical mile course. This includes Nemo Point, the most remote location on Earth at 1,670 miles from the nearest shoreline, where 320 microplastics were found per cubic metre of seawater.

Research is accumulating on the implications of microplastics on both wildlife and human health, yet the overarching scientific consensus on the issue is still forming and remains uncertain.

Giuseppe Paolisso and his team at the University of Campania Luigi Vanvitelli studied the build-up of microplastics in arterial plaques in 257 people undergoing surgery to lower stroke risk. Microplastics were detected in the plaques of 150 patients, with the majority of particles identified as polyethylene or polyvinyl chloride.

The study shows a correlation between microplastics and negative health impacts. However, the causes of the build-up and its prevalence in the general population require further research, particularly considering that 40% of the subjects showed no microplastics despite widespread pollution.

Other recent studies have revealed that microplastics can compromise human white blood cell function, reducing the body’s defence against pathogens, and potentially impacting immune health and tissue integrity.

Additionally, microplastics have been found to harbour bacteria and enter the marine food chain, ultimately affecting the gut biomes of seabirds. This raises concerns about the potential escalation of microplastic ingestion by humans due to bioaccumulation through the food chain.

Global action on rampant plastic pollution has been slow. In 2022, 175 nations signed a legally binding treaty on plastics seeking to combat emissions and pollution associated with the material’s production, use and disposal.

At the next negotiating session, the INC-4 in Ottowa, Canada, a revised draft will be up for discussion, with the treaty expected to be finalised by the end of the year.

While international policy develops at a modest pace, the private sector is exploring innovative solutions to a worsening crisis.  AION, for example, helps customers transform their plastic waste problems into valuable solutions.

AOIN’s team of experts conduct in-depth analysis of customers’ plastic product value chains, offering a roadmap to minimise virgin plastic use, integrate recycled materials, and prevent plastic waste generation.

At the other end of the plastic lifecycle, Bureo transforms discarded fishing nets into valuable recycled raw materials. To date, Bureo has collected and recycled more than 4.5 million kg of nets, operating collection programmes in six countries. Their innovative approach has caught the attention of leading brands including Patagonia, Toyota, and Trek.

1 November, 2023 London: Ocean 14 Capital has announced an investment into Bureo, an innovative company that is on a mission to end fishing net pollution to help protect our oceans by providing fishermen with an end-of-life solution for discarded fishing nets.

These nets, which are collected, cleaned and processed into NetPlus® pellets that are 100% recycled, fully traceable and make for a premium recycled material for nylon fabric and other plastic products, are used by the likes of Toyota Tsusho, Patagonia, Trek, Quiksilver, Brixton, Orvis and more.

Ocean 14 Capital is an impact fund focused on driving a sustainable and regenerative “blue economy” – a sector that uses ocean resources for economic growth and preservation.

Bureo, founded by David Stover, Ben Kneppers and Kevin Ahearn in 2013, received the financial commitment from UK-based Ocean 14 Capital in their Series B raise, led by Toyota Tsusho Corporation, and further supported by like-minded impact investors including Mirova, Susquehanna Foundation and Conservation International Ventures.

This recent fundraise will enable Bureo to expand its facilities and equipment, develop the NetPlus® brand and expand the workforce for the next growth stage, as well as continue to develop solutions to secure the future of our oceans by reducing one of the most harmful forms of ocean pollution – discarded fishing nets.

“Bureo is a model of a purpose-led business generating value by transforming end-of-life plastic waste,” notes investor Chris Gorrell Barnes, founding partner of UK based Ocean 14 Capital. “By scaling up the company’s collection activities, the magnitude of its impact becomes increasingly apparent. By materially reducing the volume of fishing nets that would otherwise find their way into our oceans or be incinerated, Bureo has a pivotal role in global environmental efforts.”

Since launching in 2013, Bureo has scaled its supply of its rHDPE & rNylon under its trademarked NetPlus® brand name from approx. 10 tonnes in 2014, to 1,130 tonnes in 2022 and is expecting over 1,500 tonnes for 2023.

“We are betting that companies and consumers will continue to move away from virgin plastics and instead focus on adopting non-extractive raw materials with lower impact production” says Bureo co-founder David Stover. “We know our work has just begun, and we feel a responsibility to bring our solution for discarded nets and expand positive impacts to more coastal communities around the world.”

Taking action to preserve our oceans was a major talking point at the 2023 World Economic Forum Annual Meeting held in Davos, Switzerland. A dedicated session featuring Peter Thomson, the UN Secretary-General’s Special Envoy for the Ocean and Co-Chair of the World Economic Forum’s community of ocean leaders flagged that a sustainable blue economy represents no less than “the future of human security” and is critical for intergenerational justice.

Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital is searching for entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.

The €167 million fund’s mission is to supercharge the blue economy, which is expected to be worth $3 trillion by 2030, according to the OECD. At the same time, it will provide jobs to 40 million people.

Ocean 14 Capital Limited is an appointed representative of G10 Capital Limited which is authorised and regulated by the Financial Conduct Authority.

-ends-

About Ocean 14 Capital Fund I SCSp

Ocean 14 Capital Fund I SCSp (“Ocean 14 Capital Fund” or the “Fund”) is an impact fund now targeting €200 million and focused on driving a sustainable and regenerative blue economy. The fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact, and industry experience. The investment adviser’s team and advisers are considered to be some of the world’s most renowned scientists and marine biologists, and it is considered that they have unparalleled access to proprietary deal flow and sector knowledge. www.ocean14capital.com

MEDIA CONTACTS

Ocean 14 Capital:

Tara O’Driscoll, CEO, The Prophets – tara@theprophets.co.uk / +44 07791 091 909

Bureo:

Jessica Davis, Wilder PR
jessica@wilderpr.com

15 June 2022, London. Ocean 14 Capital Fund, a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, has entered into an investment agreement with AION. Under the agreement, Ocean 14 Capital Fund and Aker BioMarine will jointly provide financing through a NOK 40 million convertible loan facility, equally distributed between the two parties.

The Ocean 14 Capital Fund will take operational control and have both a majority of the voting rights and board representatives in the company towards the next financing phase. The financing will be used for growth and working capital in the initial phase for AION.

The Ocean 14 Capital Fund’s investment will contribute to the solution of the escalating global plastic waste problem. “The Ocean 14 Capital Fund will contribute to scale commercial solutions to mitigate the plastic pollution problem. We have identified AION as a company to take a leading role within industrial plastic circularity, offering impactful solutions with digital traceability to large brand customers. The passionate and knowledgeable team has impressed us with their drive, and we look forward to contributing when AION will enter the next phase for future growth,” says Chris Gorell Barnes, Co-Founder and Partner of the Fund’s Investment Adviser, Ocean 14 Capital Ltd.

“With [Ocean 14 Capital Fund’s] innovation focus on sustainable ocean solutions, we bring onboard the right competence and drive to take AION to a new league. I am confident that AION will benefit from the experience, network and industry insights that Ocean 14 Capital Ltd brings to the company. They have a highly skilled and reputable team and form an ideal partner for AION,” says Matts Johansen, chief executive officer, Aker BioMarine.

“There is a need to move to more sustainable consumption and businesses play a crucial role in the transition to a circular economy. Our mission at AION is scaling circular plastics with a digital platform tracing materials and products in industry. We are excited to partner with Ocean 14 and receive the Fund’s coming contributions to our continued journey,” says Runa Haug Khoury, chief executive officer, AION.

The transaction

· Aker BioMarine and Ocean 14 Capital Fund jointly commit NOK 40 million in an unsecured convertible loan facility to finance the company’s working capital and growth on a pre-money valuation of EUR 9.5 million.

· Ocean 14 Capital Limited shall devote time and resources to AION and its developments and operations to continue its growth trajectory and position the company for securing future financing.

· Conversion shall take place upon a subsequent capital raise from external investors. After conversion, Aker BioMarine is expected to own around 85% of the shares in AION.

· As a result of the transaction, Aker BioMarine will book a gain of around USD 6 million as other operating income in second quarter 2022[2]. The gain will be included in operating profit, but excluded from adjusted EBITDA for the period. The investment in AION of around USD 10 million will be treated as shares in associated companies.

· AION will be deconsolidated from the group consolidated financial statements of Aker BioMarine from the second quarter 2022.

About Aker BioMarine ASA

Aker BioMarine ASA is a leading biotech innovator and Antarctic krill-harvesting company developing krill-derived products for consumer health and wellness as well as animal nutrition. The company has a strong position in its industry and is the world’s leading supplier of krill, the natural, powerful and health promoting source of nutrients from the pristine waters of Antarctica. The company’s focus on sustainability inspired the launch of AION that assists companies to recycle and reuse waste. Aker BioMarine is listed on Oslo Stock Exchange.

www.akerbiomarine.com

About AION AS

AION AS aims to become a leading circularity player within robust plastic fractions with a scalable and technology-agnostic business model, Circularity as a Service (CaaS). The company provides flexible and traceable end-to-end services in the field of circularity on plastics with a documented sustainability effect for its customers. AION works with a network of suppliers in the physical value chain, selecting the partners that are best suited to the specific loop. It has several customers across various geographical markets and industries, and the company’s longer-term growth ambition is to reach above NOK 500 million in revenue by entailing circular product offering and services through the tech platform AION Loop.

www.aion.eco

[1] www.oecd.org/environment/plastic-pollution-is-growing-relentlessly-as-waste-management-and-recycling-fall-short.htm [2] https://newsweb.oslobors.no/message/564848

What’s happening? Underwater seagrass meadows may be naturally trapping millions of fragments of marine plastic and removing them from the oceans, according to a study from the University of Barcelona.

Fibres in the leaves shed by the Posidonia oceanica seagrass, endemic in the Mediterranean and found in coastal waters up to 40 metres deep, create tangles known as Neptune balls that can trap the plastic, the study reveals.

When the balls are ejected from the sea during storms, they also return the plastic to the shore. Plastic items were also found in 50% of the loose leaves sampled. Why does this matter? This novel ecosystem service provided by seagrass meadows could aid efforts to combat plastic pollution in oceans, which not only affects the growth and survival of marine species, but also food webs and human health. The world’s oceans contain around 150 million mt of plastic, with an additional eight million mt added each year. The scale of microplastic pollution has in the past been significantly underestimated due to measurement methods missing smaller fragments – last year it was found there is at least twice as many plastic particles in the oceans than previously reported.

Although high-level commitments to reduce the use of some plastic items are gaining traction from countries such as China and the UK, removing plastics already in global waters on a large scale has not yet been addressed.

The University of Barcelona study found high concentrations of plastic debris present in 17% of the Neptune balls sampled, reaching up to 1,470 plastic items per kg of seagrass. Neptune balls are formed when lignocellulosic fibres from seagrass leaf sheaths are released, which can interlace with plastics when the ball-shaped clusters are shaped.

Natural wave action aids the accumulation and compaction of the balls, also enabling an outer, hard shell to form from repeated impact with the seabed and sudden sea motion changes. Researchers estimate that Neptune balls could trap up to 867 million items of plastic debris in the Mediterranean annually. This newly discovered plastic-trapping ability of seagrass, however, could be hindered by the shrinkage of these ecosystems. At least 22 of the world’s 72 seagrass species are in decline from threats including climate change, unregulated fishing practices and pollution. Benefiting from this nature-based solution on a larger scale requires efforts to conserve seagrass habitats. A seagrass restoration project in the UK, for instance, aims to restore eight hectares of lost seagrass around UK waters by initially cultivating the plants in a laboratory. The cultivation of such meadows can also provide other important ecosystem services, such as carbon sequestration, coastal protection and nurseries for marine species.

The potential for seagrass meadows in other locations – such as related species near the coast of Australia – to provide similar functions gathering and trapping plastic remains unclear.

Elsewhere, a study by the Plymouth Marine Laboratory is underway to explore if the natural feeding process of mussels can offer a similar natural solution. The project, funded by Waitrose’s Plan Plastic: The Million Pound Challenge, will investigate whether ‘bioreefs’ of mussels could be harnessed to remove microplastics from marine environments.

What’s happening? The leaders of 14 countries, whose governments are responsible for 40% of global coastlines, have committed to end overfishing, while also restoring falling fish populations and ending the movement of plastic pollution into the sea over the next 10 years. The pledges, which were outlined on 2 December, constitute the world’s largest ocean sustainability initiative. The countries involved will end subsidies contributing to overfishing, enforce measures designed to end illegal fishing, and commit to managing oceans within their own jurisdictions sustainably by 2025.

Why does this matter? As pressures on the world’s seas increase due to overfishing, climate change and plastic pollution, it’s becoming imperative to effect change to improve the sustainability of the ocean.

The High Level Panel for a Sustainable Ocean Economy was set up to help do just that, with its latest initiative to “Give it 100%” – to sustainably manage 100% of national waters by 2025 – signed by Australia, Canada, Chile, Fiji, Ghana, Indonesia, Jamaica, Japan, Kenya, Mexico, Namibia, Norway, Palau and Portugal. Its agenda is framed around ocean health, wealth, knowledge, equity and finance, and the aim is to push nations to develop sustainable ocean plans so all waters under national jurisdiction are sustainably managed by 2030.

The initiative’s launch was accompanied by a report from the panel’s expert group and SYSTEMIQ on sustainable ocean solutions, containing a roadmap to reach the aims. This outlines how measures – such as setting up national ocean task forces to coordinate efforts – can produce six times more sustainable seafood by 2050, create 40 times more renewable energy by the same date, create 12 million jobs by 2030, and result in $15.5tn in net benefits.

Stakeholders responded positively, including Canada’s aquaculture industry which lauded country’s pledge to protect its coastline – the world’s largest – and the 30 million square kilometres of national waters covered globally. Meanwhile, south of Canada’s border, the US seafood sector has instead been vocal against similar measures. The industry has written a letter to US government representatives opposing the creation of Marine Protected Areas to prevent fishing in 30% of the US’ Exclusive Economic Zone.

On a broader level, overfishing remains a difficult subject to address. The World Trade Organization this week failed to reach a deal to reduce subsidies contributing to the problem. There is, however, optimism progress has been made to reach a deal next year to reduce aid from heavy subsidisers including China, the EU, the US, South Korea and Japan. The Pew Charitable Trusts estimated a deal could increase fish biomass globally by 12.5% over the next 20 years.

Meanwhile, while certain retailers have taken action to stop sourcing tuna from stocks under pressure, another recent failure to reach a consensus – in this instance from the Inter-American Tropical Tuna Commission – means tropical tuna fisheries are set to lack any form of management on quotas or gear types from 1 January. While individual nations can implement their own regulations, this marks the first time in the commission’s 70-year history it has been without regional oversight.

The EU also has some work to do, with the European Court of Auditors finding action from the bloc since 2008 to reduce fishing to sustainable levels and restore European seas’ environmental status has not been strong enough. The High Level Panel earlier this year outlined the net economic benefits of taking action on overfishing, which would amount to around $6.7tn over the next 30 years according to its analysis. It also said, under a “blue recovery” from Covid-19, coastal states could generate $17 for every $1 spent on offshore wind, and $3 for every $1 spent on mangrove restoration.

Source: The Guardian

Why does this matter? Ocean plastic proliferation is only set to get worse without action, with annual plastic leakage set to treble to reach 29 million tonnes annually by 2040 and the ocean plastic stock set to quadruple by this date – rising to 646 mt. This could help push species towards extinction, with evidence also emerging that ocean microplastic can cause sea creatures to develop abnormally.

To tackle the issue, efforts are being focused on a number of fronts, including on devices to collect plastic already in the oceans. The above highlighted new study, however, describes the projected impact of ocean clean up devices as “very modest”. The forecasted impact remained limited even when the researchers’ model calculated the effect of 200 clean-up devices across the ocean working continuously for 120 years.

The Ocean Cleanup’s Matthias Egger disputes the findings, stating the study underestimates the device and, if it is deployed at areas of high plastic concentration such as the Great Pacific garbage patch, it will be more effective.

Submerged plastic, however, is substantially more difficult to remove than plastic floating at the top of the ocean. Separate reports indicate around 99% of ocean plastic ultimately ends up in the deep sea, with around 35 times more plastic currently in all levels of the ocean than the amount located at its surface.

While clean up devices may play a small role, it’s much more important to stop plastic entering the marine environment in the first place. In a piece arguing ocean clean-up devices are an uneconomic “dangerous distraction”, Systemiq’s Yoni Shiran likens the issue to a flooded house – you should first turn off the tap before you start mopping the floor.

Global rivers and waterways are a significant source of ocean plastic, with analysis indicating up to 34 mt of plastic emissions enter these each year. Collecting this before it reaches the ocean is one solution. Ocean Cleanup is also developing solar powered river-based devices, such as its Interceptor, which can trap and collect plastic before it reaches the sea.

Elsewhere, bubble barriers are being tested to push plastic to waterway surfaces for collection. Mapping the problem can also help – in Japan, researchers have developed a high-resolution plastic emissions map of the country to enable waterway problem areas to be targeted for reduction efforts.

Of course, better still would be to stop plastic even entering waterways, where it still impacts water-based species. Indonesia is embarking on a strategy to reduce the amount of plastic entering its waters by 70% by 2025 through doubling plastic waste collection and recycling, redesigning plastic products and expanding waste disposal facilities. Alongside corporate pledges to reduce virgin plastic use, recycling and circular economic principles and technologies can help, with plastic able to be repurposed into hydrocarbon feedstocks for new plastic, chemical products, low-sulphur oil or even hydrogen.

Sources: Eco-Business

Science of the Total Environment