Pratt Industries commits to invest $1 billion in paper recycling and waste-to-energy infrastructure over the next 10 years. This investment will enable the construction and operation of at least 3 new recycled paper mills, 4 waste-to-energy plants, and 30 MRFs (materials recovery facilities), as well as ancillary packaging plants to fully integrate the paper mills. Pratt Industries will also help to create a 'recycling movement' to promote wider understanding that recycling is an important weapon against climate change.
Increased levels of paper recycling will help reduce deforestation and landfill gas (methane) emissions. These factors (as reported in the Stern Report and other authoritative, independent sources) contribute more than 20 percent of global carbon dioxide emissions. For each ton of waste paper that is recycled and diverted from landfill, more than 1 ton of carbon dioxide equivalent is avoided. In the words of Mike Winka, New Jersey Department of Environmental Protection: 'Reducing global emissions is as simple as putting recyclables on the curb.' Not enough people fully appreciate this. To address this, Pratt Industries plans to create a recycling movement with key partners like local municipalities, sanitation departments, media companies, schools, and a wide range of suppliers of waste paper.
This commitment to action is based on Pratt Industries' long experience and track record as one of the world's leading recycled paper and packaging companies. It is driven by business objectives and is underpinned by a strong sense of mission: that recycling is an important weapon against climate change. Following Richard Branson's investment announcement at the 2006 CGI annual meeting, CGI has clearly demonstrated that it can provide a compelling platform for propositions like this to be heard and joined by key opinion leaders and decision makers in the US and around the world.
The investment commitment will be managed and executed in a phased manner. The construction of Pratt Industries' next (third) recycled paper mill will commence later this year in Shreveport, Louisiana, and will be operational by December 2008 at an establishment cost of $150,000,000. At full capacity, this mill will recycle over 300,000 tons of paper per annum and will facilitate the avoidance of more than 300,000 tons of carbon dioxide equivalent. The construction of Pratt Industries' first waste-to-energy plant which will convert wood waste (otherwise destined for landfill) into energy to power Pratt's existing recycled paper mill in Conyers, Georgia, will commence later this year and will be operational by March 2009 at an establishment cost of $50,000,000. This plant will save over 75,000 tons of carbon dioxide per annum. The construction of Pratt's next MRF will commence later this year in Dallas, Texas and will be operational by February 2008 at a cost of $3,000,000. The specific roll out of subsequent paper recycling and waste-to-energy infrastructure has yet to be decided, but will meet minimum commitment levels previously outlined.
The creation of a 'recycling movement' is in its early stages and Pratt Industries would welcome ideas from CGI. However, in the short term, it will include: a $100,000 commitment to launch the 'Remix' (Recycling Magazines is Excellent) magazine recycling program with Time Magazine and other partners; a $100,000 public campaign to promote paper recycling with the New York Department of Sanitation; and a schools program in parts of New York and Georgia. In addition, Pratt Industries intends to build on a public service video created recently with Vice President Al Gore to promote recycling in an interesting and accessible way by highlighting the day in the life of a recycled pizza box.
Time Line: Anticipated Launch: Actions to achieve commitments have already commenced (for example, the site for our next recycled paper mill has already been decided; the equipment for our first waste-to-energy plant has already ordered).
First Milestone: The first major milestones of our investment commitment will be the launch of the recycled paper mill in Shreveport, Louisiana by December 2008 and the launch of the waste-to energy plant in Conyers, Georgia by March 2009. We plan to build and launch 3 new MRFs in the next 12 months: Dallas, Texas in February 2008; Charlotte, North Carolina in April, 2008; and Shreveport, Louisiana in July 2008.
Measures of Success
1. Tons of carbon dioxide avoided by the investment of Pratt Industries
2. Number of new jobs created by the investment of Pratt Industries
3. Increase in US paper recycling rates to indicate the effectiveness of the 'recycling movement'
Pratt Industries would welcome ideas and advice about how it can create an effective national (US) 'recycling movement,' working with key partners that CGI might recommend. For example, engage municipalities to evaluate how waste management in their communities can be improved (particularly curbside recycling); and engage corporations to evaluate how recyclable waste from their product stream can be more efficiently reclaimed, and ultimately recycled.
Pratt Industries had enjoyed great support from government officials in all states where our commitment has been realized to date, including New York State Governor James Paterson, NYC Mayor Mike Bloomberg in opening Phase 2 of the Staten island campus, Gov Bobby Jindal of Louisiana in opening the mill in Shreveport, and Georgia Gov Sonny Perdue.