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Waste & Recycling June 28, 2016 09:30:41 AM

Veolia joins Ellen MacArthur Foundation-led sustainable plastics system initiative

Paul Ploumis
ScrapMonster Author
Environmental services giant, Veolia, has joined the New Plastics Economy Initiative led by Ellen MacArthur Foundation as a Core Partner.

Veolia joins Ellen MacArthur Foundation-led sustainable plastics system initiative

SPOKANE (Scrap Monster): Environmental services giant, Veolia, has joined the New Plastics Economy Initiative led by Ellen MacArthur Foundation as a Core Partner. The initiative employs an explicitly systemic and collaborative approach to transform global plastic packaging material flows. The three-year initiative aims to build momentum towards more sustainable plastics system with enhanced economic and environmental benefits.

The initiative is based on the report titled ‘The New Plastics Economy: Rethinking the future of plastics’ produced by the World Economic Forum in association with the Ellen MacArthur Foundation with key analytical support from McKinsey & Co. This report is the product of Project MainStream, a global, multi-industry initiative that aims to accelerate business-driven innovations to help scale the circular economy.

The report states that plastics production has surged over the past 50 years from 15 million tonnes in 1964 to 311 million tonnes in 2014. Further, the production is expected to double again in the next 20 years. Plastics packaging, which currently represents 26% of the total volume of used plastics, will continue to remain as the largest application.

According to the report, nearly 95% of plastic packaging material value is lost to the economy after a short first use. This equates to economic loss of almost $80-$120 billion per annum. Data suggests that only 14% of plastic packaging is collected for recycling. Taking into account the additional value losses in sorting and reprocessing, only 5% of the material is retained for subsequent use. The recycling rate for plastics is significantly lower when compared with the global recycling rates for paper (58%) and iron and steel (70-90%).

Every single year, nearly 8 million tonnes of plastics leak into the ocean, with plastics packaging accounting for the majority share. The rate is expected to multiply by 2030. Recent studies warn that the ocean will contain 1 tonne of plastic for every 3 tonnes of fish by 2025. Also, the weight of plastics in the ocean will surpass the weight of fish by 2050..

The New Plastics Economy aims to set an initial direction and contribute to the evidence base by synthesizing information from across many dispersed sources. It assesses the benefits and drawbacks of plastic packaging today, and makes the case for rethinking the current plastics economy. It lays out the ambitions and benefits of the New Plastics Economy – a system aiming to achieve drastically better economic and environmental outcomes. It proposes a new approach and action plan to get there.

By applying the principles of the circular economy, the initiative brings together leading companies, cities, philanthropists, policymakers, academics, students, NGOs, and citizens to re-think and re-design the future of plastics, starting with packaging, noted Veolia. By joining the initiative, Veolia will partner with various plastics chain stakeholders on select workstreams and innovative projects. Meantime, Ellen MacArthur Foundation expressed great delight in Veolia joining the initiative as a core partner. According to them, the resource management expertise of the company will help in making systemic changes needed to transition to a circular economy.

 

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