Enterprise application software provider SAP is developing a new global marketplace for suppliers of recycled plastics and plastic alternatives.

This initiative indicates the entry of the company’s Plastics Cloud pilot programme to the next phase. The new marketplace will be powered by SAP Ariba solutions.

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Introduced last year, Plastics Cloud seeks to help reduce and eliminate single-use plastic waste.

The programme collected existing and live data from across the UK plastics supply chain under the first phase in order to explore new ideas to reduce waste.

As part of the second phase, the company plans to work closely with partners to extend its Ariba Network for the development of the new global marketplace.

Using Ariba Network, the company aims to connect buyers with new recycled plastics suppliers and other certified companies.

SAP Ariba Sustainability and Supplier Risk Solutions global vice-president Padmini Ranganathan said: “Even a small portion of global spend on packaging redirected to pre-certified suppliers of recycled plastics and alternatives can have a tremendous impact, ranging from the livelihood of waste pickers around the world to the environment and quality of the end products.

“Ariba Network, together with our Cloud-based procurement solutions, can help channel recycled plastic to a new recycle market economy.

“This empowers supply sources to build trusted buyer partnerships while positively impacting the environment and delivering value to brands.”

Each year, around $10bn packaging flows through Ariba Network, which is a dynamic, digital marketplace where buyers and suppliers collaborate on transactions and discover new opportunities.

SAP has also partnered with global brands such as Procter & Gamble, The Coca-Cola Company and Nestle.