German sportswear company Adidas (ETR: ADS) announced on Monday its commitment to use only recycled plastic by 2024. The Company vowed to cease the use of “virgin” plastics, including polyester, which is found in almost every product, from shorts to shirts and sports bras. The Company also announced its plan to stop using virgin plastics in its offices, retail outlets, warehouses, and distribution centers.
This move to reduce plastic use is projected to save an estimated 40 tons of plastic per year, starting in 2018. Adidas is the latest global company to join the fight to reduce plastic use.
Additionally, Adidas has already begun with its plans. The Company said its apparel line for the spring and summer of 2019 will be made from roughly 41% recycled polyester.
Adidas expects sales of its Parley shoes, which are made from plastic that has been retrieved before reaching the ocean, to skyrocket in sales, jumping from 1 Million in 2017 to 5 Million this year.
The move to reduce plastic use comes at a time where global plastic use is 20 times higher than 50 years ago and is expected to double over the next 20 years. Research suggests that the ocean will contain more plastic than fish by weight by 2050.