Jakarta, 19 September 2023 – PT VENTENY Fortuna International Tbk (VENTENY) is collaborating with PT Plastic Bank Indonesia (“Plastic Bank”) to collect more than 20,000 kilograms of plastic waste, equivalent to 1,000,000 (one million) 500 ml plastic bottles by 2024, and prevent it from flowing into the ocean.
Indonesia is known as a maritime nation with a vast expanse of water compared to land, and plastic pollution in the oceans has become a crucial environmental issue for the country. This partnership with Plastic Bank, a social enterprise that aims to stop ocean plastic pollution and alleviate poverty, demonstrates VENTENY’s commitment to creating environmental and social impact for the Indonesian community, aligning with the government’s program to achieve a plastic-free Indonesian sea by 2040.
Founder and Group CEO Jun Waide stated, “VENTENY is committed to supporting the principles of Environmental, Social, and Governance (ESG) in all aspects of the Company’s operations. ESG serves as a crucial guide in conducting our business sustainably. VENTENY not only focuses on financial profits but also on the positive impact we create for the environment and society, supported by strong corporate governance. We continually strive to integrate sustainable practices into every action we take, aiming to make a positive contribution to the world and the communities around us.”
Plastic Bank identifies vulnerable coastal areas that lack plastic waste collection infrastructure and empowers local entrepreneurs to set up plastic collection branches. The collected plastic is exchanged by its collection community members for secure income and life-improving benefits such as access to health, employment, and life insurance; digital connectivity; and banking services.
Frederick Saman, Country Manager Indonesia for Plastic Bank, stated, “As the second largest ocean plastic producer in the world, Indonesia is in dire need of companies to support plastic collection and recycling efforts. We are delighted to welcome VENTENY to join our Social Recycling movement and empower collection communities to prevent plastic waste from entering the ocean.”
Together with its 14,000 collection community members in Indonesia, Plastic Bank has stopped over 50 million kilograms of plastic from polluting the country’s beautiful beaches and oceans.
About VENTENY
PT VENTENY Fortuna International, Tbk. offers a unique value proposition to SMEs by providing a combination of growth funding for SME players and human resource empowerment through the VENTENY Employee Superapp.
VENTENY has built an employee Super-app ecosystem through collaborations with third parties to provide several services, such as Financial Technology Program (V-Nancial), Technology-Based Insurance Program (V-Health), Employee Benefits Program (V-Merchant), and Technology-Based Education Program (V-Academy). Now, users can enjoy the convenience of VENTENY service transactions using an integrated e-wallet within the VENTENY application. This e-wallet feature is supported by the QRIS (Quick Response Code Indonesian Standard) system.
Currently, VENTENY operates in four countries: the Philippines, Singapore, Indonesia, and Japan. More than 9,600 SMEs have already received productive funding disbursements from VENTENY, with over 250,000 users of the VENTENY Employee Superapp in Indonesia. The VENTENY app is now available on Google Play Store and App Store.
About Plastic Bank
Plastic Bank envisions a wasteless world. We empower the Social Recycling movement that stops ocean plastic and helps alleviate poverty. Our collection communities exchange plastic waste as currency for income and life-improving benefits, such as groceries, cooking fuel, school tuition, health insurance, digital connectivity, and fintech services.
Exchanges are recorded through our proprietary blockchain-secured platform that enables traceable collection, secures income, and verifies reporting. The collected material is processed into Social Plastic® feedstock for reuse in products and packaging, helping create new life for old plastic.
