SEATTLE (Scrap Monster): The Ellen MacArthur Foundation, in its recently released progress report on global commitment to reduce plastic waste by signatories, noted that most businesses are likely to fail 2025 plastic waste targets. The report is being published just ahead of the third International Negotiating Committee for a Global Plastics Treaty to be held in Nairobi, Kenya from 13th to 19th November, 2023.
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According to the Foundation, the members have significantly outperformed their peers in reducing plastic waste over the period of past five years. They have increased the use of recycled plastics by 1.5 million tons per annum, thus resulting in elimination of approximately 2.5 million tons of GHG emissions. It must be noted that the signatories make up almost 20% of the global plastics industry.
Commenting on the findings, Greenpeace UK pointed to failure of current strategies used by companies to tackle plastic waste crisis. The collective use of plastics by signatory companies have continued to rise during the past five years. Also, plastic production by these businesses are projected to see notable rise over the coming years.
The signatories have recorded both successes and failures. Several companies such as PepsiCo, Mars and Coca-Cola have reported rise in use of virgin plastic. At the same time, these companies have reported increased post-consumer recyclate levels.
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