Banco de Bogotá’s Commitment with Reciclene and a Circular Economy

In a world that is increasingly more aware of environmental challenges, transitioning into a circular economy has proven to be a fundamental aspect to address sustainability and the growing challenge of waste management. In this shift we must change the way that we produce, consume, and manage resources if we want to minimize waste and maximize the value of products and materials throughout their life cycle.

In this context, the Banco de Bogotá has proven its commitment to promoting a shift into a circular economy and environmental sustainability through its support of Reciclene. Reciclene, a company dedicated to Colombian postconsumer plastic recycling works closely with waste pickers to collect and process a large array of plastic products. These include low density polyethylene, polypropylene, and high density polyethylene.

Recently, the Banco de Bogotá gave Grupo Plastilene a credit to improve Reciclene’s recycling plant through the purchase of the latest recycling technology. This has increased Reciclene’s processing capacity and the efficiency in its operations.

This initiative has also optimized its operations and significantly reduced the carbon footprint of the company. The company now processes 1,800 tonnes per year, and reduced its CO2 emissions by more than 2,600 tonnes.

Besides all the environmental benefits, Reciclene has had a significant social impact through highlighting the work of waste pickers and improving their and their families’ quality of life..

Thanks to the support from Banco de Bogotá and other allies, Reciclene has managed to become an example of initiatives within the circular economy model that have had positive results both socially and environmentally.

Through this Banco de Bogotá and Reciclene prove their strong commitment to promoting a circular economy. This achieved in seeing recycling as a fundamental tool to address environmental challenges and build a more sustainable and prosperous future for everyone.