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Multinational corporations jointly support a plan to recycle 70% of the world's plastics.

2017-10-12

Multinational corporations have joined forces to support a plan to recycle 70% of the world's plastics. More than 40 leading companies in the industry have endorsed an action plan aimed at solving the global plastics problem in innovative and effective ways. This initiative was proposed in May 2016 by the World Economic Forum and the Ellen MacArthur Foundation, and a joint research report, *The New Plastics Economy: Catalysing Action*, was published. Based on an industry potential analysis, the report estimates that the current annual recycling rate of plastic packaging is only 14%, and that if global companies work together, they could recycle and reuse 70% of the world's plastic packaging. The report points out that if the world does not take more proactive measures regarding the current state of plastic packaging, by 2050, the weight of plastic waste in the ocean will exceed the amount of fish caught. The report outlines a series of clear and transparent global plastics industry strategies, including better packaging design, increased recycling rates, and the promotion of new packaging application models. 20% of plastic packaging can be reused with added value, such as replacing single-use plastic bags with reusable materials or designing innovative packaging models based on different product types. 50% of plastic packaging materials can be recycled and reused with added value through packaging design or recycling management systems. Without any action, another 30% (equivalent to 10 billion garbage bags) will not enter the recycling system and will instead end up in landfills or incineration. Solving the plastic problem requires global collaboration among stakeholders, employing a multi-pronged approach including innovative packaging design, recyclable or compostable materials, and reuse technologies to achieve the ambitious goals of a new plastic economy. The New Plastic Economy initiative currently has over 40 leading companies in the global plastics industry, from chemical manufacturers to consumer goods manufacturers, retailers, city authorities, and recycling companies, working together towards a more efficient global system. Core members of this initiative include Amcor, Coca-Cola, Danone, Mars, Novamont, Unilever, and Veolia. The next goal of the New Plastics Economy initiative will be large-scale innovation, including launching two global innovation challenges to stimulate the industry's energy to redesign packaging materials and forms, and to begin establishing a global plastics protocol. To help the industry shift towards a circular mindset, adopt a systems perspective, and inspire startups, entrepreneurs, and designers, the Ellen MacArthur Foundation has released the "Circular Design Guide." For details, please visit the official website: http://circulardesignguide.com/methods Source: New Plastics Economy (2017-01-16) (Compiled by PIDC)

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