No time to waste: What plastics recycling could offer
This McKinsey & Co report says plastics waste is hurting the chemical industry as well as the environment. By taking the lead on recycling, chemical players could add a new dimension to the industry and help solve the problem. The public’s concern is already translating into new regulations on plastics in the European Union and elsewhere, and major customers, such as the consumer-packaged-goods (CPG) industry, are ramping up efforts to increase recycled content and reduce their plastics consumption. What is news, however, is that chemical-industry leadership has started to declare that its concept of stewardship and sustainability now extends to dealing with plastics waste. It is also increasingly acknowledging that the “use once and discard” model, which the plastics industry has grown up with, should be replaced by a new model where plastics are recycled as much as possible.