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Signatories, which include numerous world's largest packaging producers, brands, retailers and recyclers, represent 20% of all plastic packaging produced globally.

The foundation said the signers of the pact represent 20 percent of plastic packaging produced globally. "We need to move upstream to the source of the flow", said Ellen MacArthur, the record-breaking British sailor who is behind the plastic initiative.

Mondi has become one of the first signatories of The New Plastics Economy Global Commitment which will work towards eliminating plastic pollution and creating 100 per cent reusable, recyclable, or compostable plastic packaging by 2025.

The companies who have signed up include global giants such as Coca-Cola, Danone, H & M, Unilever, Mars and L'Oreal, to name just a few.

Businesses signing the Commitment have undertaken to publish yearly data about progress on the central goals of the project. Researchers calculate that if current trends continue, there could be more plastic than fish in the world's seas by 2050. All businesses and governments must go further and embark on a race to the top in the creation of a circular economy for plastic.

The core aim of the commitment - its "vision" - is a circular economy for plastic in which it never becomes waste.

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This innovation allows plastic bottles and packaging of any color, transparency or condition, carpet, clothing and other polyester textiles that may contain colors, dyes or additives, and even ocean plastics that have been degraded by sun and salt to meet FDA requirements for use in food-grade packaging. The Ellen MacArthur Foundation released a report upon its launch, The New Plastics Economy: Rethinking the future of plastics, that outlined its approach. We want to act and lead by example.

The Washington-based environmental group Oceana, for its part, said the commitments are "vague promises" and called on companies to stop using plastics.

"We recognise that the plastic waste challenge will only be solved by global collaboration between companies, national and local governments, multi-national organisations, the recycling industry and consumers".

It is by coming together and using the combined power and expertise of everyone involved that we can make plastic pollution a thing of the past.

"Most efforts 'til now have been focused on cleaning up plastic pollution".

SC Johnson will address the issue of ocean plastics by increasing recycling rates in Indonesia with the opening of eight recycling centers, the company says.