How sustainable finance can work for you

TITLE CARD
TerraCycle
The business of recycling anything

 

B Roll plastic bottles, straws and containers

 

Dr. Anna Barford:
We're totally addicted to plastic as a global economy.

 

RIBBON GRAPHIC
Since 1950, 1.8 quintillion pounds of plastic have been produced

 

Dr. Anna Barford:
Plastic is all around us in so many different forms.

 

RIBBON GRAPHIC
Which is roughly the same weigh as 6 Mt. Everests

 

RIBBON GRAPHIC
Dr. Anna Barford
Prince Of Wales Fellow In Pathways To A Circular Economy

 

Dr. Anna Barford:
When there are so many forms of it, it’s quite hard to sort it and deal with it and recycle it properly.

 

 

B Roll recyclables on a palette, a bag being tossed into a trashcan, a forklift with recyclables, trash on a beach, a bottle being recycled

 

Tom Szaky:
The human species is about 100 times more wasteful than it was just 70 years ago.

 

RIBBON GRAPHIC
Only 8.7% of plastic is recycled annually in the U.S.

 

Tom Szaky:
So we're producing a lot.

 

Then if you think about how the solutions to garbage work, what tends to be recycled is not what can be recycled - this is a huge misconception.

 

RIBBON GRAPHIC
Tom Szaky
Founder & CEO, TerraCycle and Loop

 

Instead, what is recycled is what can be recycled profitably by garbage companies.

 

B Roll man wrapping palette, empty bottles being tossed, Terracycle exteriors

 

Tom Szaky:
My name is Tom Szaky and I'm the founder and CEO of TerraCycle and Loop. TerraCycle is a global waste management company, we’re headquartered here in New Jersey, but operate nationally in 22 countries.

 

B roll TerraCycle website, recycling medical gloves, new consumer product packaging and products, Loop box

 

Tom Szaky:
Our mission is not just to manage waste, but to eliminate the idea of waste and we do that by recycling hard to recycle things, then integrating recycled waste back into consumer products. And then, finally through Loop, elevating supply chains from being disposable to fully reusable.

 

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Ernie Simpson
Global Vice President & Chief Scientist, Terracycle R&D and Technical Innovation

 

Ernie Simpson:
Tom had the real foresight to take a look at an area that no one was actually doing, and that's the recycling of No. 7 plastic.

 

B Roll number 7 symbol, scientists in the lab, landfill

 

Ernie Simpson:
Prior to TerraCycle, all multilayer constructed materials were put in the landfill. Many people thought you could not recycle No. 7 plastics because they wouldn't be of any use.

 

B Roll Ernie Simpson exterior TerraCycle, recycled pipes, building materials and cleaning materials

 

Ernie Simpson:
We were successful in showing the rest of the world what could be done with some of the materials that they considered non-recyclable.

 

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Brian Juleskeusky
Senior Relationship Manager, Bank of America

 

Brian Juleskeusky:
When you're looking to extend credit to a customer, I think one of the first questions you're asked is who are their competitors and what is their competitive advantage? And I don't think ever in my career, have I ever answered that question by saying straightfaced, there are no competitors. And that's really the case of Terracycle.

 

B Roll masks tossed into trash, styrofoam, discarded clothing, yogurt packaging, diapers, cigarette butts, toothbrushes, lipstick

 

Tom Szaky:
TerraCycle focuses on the things you can't put in your recycling bin. I think technically it's in the thousands of different waste streams. So everything from dirty diapers to cigarette butts, from toothbrushes to cosmetic packaging, and it goes on and on and on.

 

B Roll picnic tables and chairs, juice pouches being recycled, plastic granules, chairs and tables

 

Ernie Simpson:
All of these chairs and tables were made from juice pouch material. We shredded the materials, melted it, made it into granules, and then the granules were actually formed into lumber to make these chairs and tables.

 

FULL SCREEN GRAPHIC
TerraCycle has recycled more than 7.7 billion items since its founding in 2001

 

Tom Szaky:
Everything can be recycled in the end.

 

B Roll empty bottles being scooped up, plastic bags put into a pile, a hopper of plastic granules

 

Tom Szaky:
The fundamental issue of recycling is one of economics. We're dependent on finding stakeholders who really want to invest and do the right thing. So, you can go out there and recycle things you could never recycle before, absolutely for free.

 

Brian Juleskeusky:
I think what I've learned in working with Terracycle is you can do the right thing and get benefit from that.

 

B Roll Tom Szaky chats with his TerraCycle team

 

Brian Juleskeusky:
And I think people are really focused on companies who take their carbon footprint seriously. And Terracycle is, is a company that enables these other companies to reach those goals.

 

FULL SCREEN GRAPHIC
202 million people have participated in TerraCycle recycling programs

 

Dr. Anna Barford:
Everyone has their role to play.

 

B Roll consumers shopping and examining products

 

Dr. Anna Barford:
I think there's great potential for consumers to have an impact.
I think as individuals, we don't always know how to have that impact.

 

B Roll climate protest

 

Dr. Anna Barford:
The level of environmental consciousness amongst young people now is really high, but it's not just a consciousness, they’re actually on the streets being vocal about this, which is really an exciting change actually.

 

B Roll shoppers and shoppers examining products

 

Tom Szaky:
For us as individuals, the short-term stuff is to vote with our money for the future we want with what we buy. People are waking up more than ever.

 

B Roll exterior TerraCycle, Tom Szaky in front of logo on building

 

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Bank of America
www.bankofamerica.com/environment

 

Bank of America, N.A. Member FDIC © 2021 Bank of America Corporation.

[Music in background throughout]

On screen copy:
Devens, MA

Decades ago…New England fed itself.

 

[interior footage showing growing operations of Little Leaf facility]

Paul Sellew
CEO & Founder, Little Leaf Farms

I think, ironically, using technology now, we’re going back to that era.

We’re at the beginning stages of the next evolution of the produce industry.

On screen copy:
Tim Cunniff
EVP of Sales & Marketing, Little Leaf Farms

There’s no reason right now that you need to ship food across the country. You can do it economically, you can do it sustainably, while supporting a local economy.

Sustainable is everything.

On screen copy:
Pieter Slaman
Head Grower & Manager, Little Leaf Farms

The great thing of Little Leaf Farms is that we have all the tools to do that. We are collecting all our rainwater on the rooftop, so we reuse all the rainwater. The lights are running actually on a solar field next to our greenhouse.

 

It’s good for the planet. It reduces uses of chemicals, it reduces food waste, it diversifies our food system. It makes our local communities more resilient as compared to relying on concentrated pockets of production thousands of miles away.

On screen copy:
Randy Mitchell
Senior Vice President, Bank of America

By investing in Little Leaf, we’re investing in the local community, we’re investing in jobs… It’s a very unique opportunity to do business with somebody that’s so driven by sustainability and environmental issues.

We’re going to grow our business down the East Coast. It means having a partner like Bank of America, that looks at what we’re doing here and values that.

I think it’s really important to support the innovation that comes out of companies like this. Not only do we promote the economics that we typically do with a lot of our companies, but we’re also promoting things like affordable, easily accessible, locally grown food.

It’s great to be something that’s associated with high quality, a level of integrity and a standard that you should be proud of.

That is what we’re a part of here, and we think this is just the beginning.

 

On screen copy:

What would you like the power to do? ^®

Bank of America^® logo

Learn more: bankofamerica.com/sustainablefinance

 

On screen disclosures:

Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation. All rights reserved. Bank of America, N.A. Member FDIC ©2022 Bank of America Corporation.

The transportation sector accounts for about 29% of total U.S. greenhouse gas emissions.

 

Source: EPA

 

To counter these emissions, the transportation sector must develop innovative solutions that drive sustainability.

 

Gareth Joyce
President of Proterra

 

Gareth: Proterra is all about bringing clean, quiet commercial vehicle battery-technology solutions to the communities that we serve and live in, with the ultimate ambition of protecting the environment.

 

 

Proterra is a leader in the transition to zero-emission, electric commercial vehicles, including electric transit buses, school buses, delivery trucks and more.

 

 

 

JoAnn Covington
Chief Legal Officer & Head of Government Relations, Proterra

 

JoAnn: We believe public transportation and the transit sector will be the first to fully electrify — and that has been our mission since day one. We design and manufacture electric powertrain systems and also charging infrastructure solutions for commercial fleets. That technology is here. The capability is here to deliver it and install it. With partners such as Bank of America, we stand ready to make our vision a reality and our cities more livable.

 

 

To help companies like Proterra achieve their business goals, Bank of America has committed $1.5 trillion towards sustainable finance by 2030.

 

This funding will help society transition to a low-carbon future. 

 

Gareth: It’s no longer a question of if economies will transform to clean energy solutions, it’s now a question of how fast they’ll transform. If we want our children and our children’s children to enjoy the earth the way we’ve been able to enjoy it, it’s incumbent on us to take a leadership role in bringing clean energy solutions to the communities that we live in and serve.

 

 

***Bank of America Logo***

Learn more at bankofamerica.com/responsiblegrowth

[Music in background throughout]

 

A typical passenger jet engine is a technological marvel.

 

[Passenger jets in various stages of taxiing, taking off, and in flight]

 

75,000 parts spin at more than one thousand miles per hour, creating the nearly 80,000 pounds of thrust needed to lift a fully loaded 787 off the ground.

 

And yet for more than 80 years, those engines have relied on fossil fuels pumped out of the ground.

 

Now, an innovative new fuel source made from grass clippings, restaurant waste, and even old newspapers is introducing a new era of sustainability to flight.

 

[Various fuel sources]

 

On screen copy:

●     Innovative new fuel source

 

These everyday ingredients are distilled down to their basic chemical components, and then refined to make bio-oils.

 

[Fuel sources are replaced by oil processing imagery]

 

The oils are synthesized, upgraded, and mixed with traditional jet fuel to make Sustainable Aviation Fuel, or SAF.

 

On screen copy:

●     Sustainable Aviation Fuel (SAF)

 

SAF supports a more sustainable world, by reducing greenhouse gas emissions from 21 pounds per gallon burned to four pounds…

 

On screen copy:

●     21lb emissions per gallon burned

●     4lb emissions per gallon burned

 

Emitting up to 70% less CO₂ over its lifecycle…

 

On screen copy:

●     up to 70% less CO₂

 

Releasing fewer harmful particulates and sulfur into the atmosphere…

 

On screen copy:

●     fewer harmful particulates

 

And harnessing source crops grown on land not suitable for farming.

 

On screen copy:

●     algae

●     camelina

●     salt marsh grasses

 

More than 50 airlines have powered 450,000 flights and counting using Sustainable Aviation Fuel, with the industry seeing increased production and adoption every year.

 

On screen copy:

●     more than 50 airlines

●     450,000+ flights

 

Innovative and sustainable solutions like SAF can help society reach net zero by 2050 and help create a more sustainable world for all.

 

On screen copy:

●     Net zero by 2050

●     a more sustainable world for all

 

On screen copy:

Bank of America^® logo

bankofamerica.com/sustainablefinance

 

On screen disclosures:

Bank of America, N.A. Member FDIC ©2022 Bank of America Corporation.

 

On screen copy:

References

●     Power in Numbers: GE Rolls Out GEnx Engine No. 1,000 in Only Five Years Since Entering Service (ge.com)

●     Jet Engines (stanford.edu)

●     GENX™ high bypass turbofan engines (geaerospace.com)

●     U.S. Energy Information Administration - EIA - Independent Statistics and Analysis (eia.gov)

●     Sustainable Aviation Fuel (skynrg.com)

Can Hydrogen Save Aviation's Fuel Challenges? (nytimes.com)