Welcome to the Plastics Weekly, NEO’s regular news monitoring of the plastics industry.
Every Monday, we publish a roundup of the top developments in plastics and sustainability – from regulatory changes to company news.
This week’s highlights:
- Latin America’s largest petrochemicals company, Braskem, has invested in advanced recycling firm Nexus Circular to support its sustainability goals. Nexus uses proprietary technology to convert plastics into circular feedstocks to create virgin plastics for various uses. The investment is part of Braskem’s strategy to help develop a circular economy for plastics through recycling infrastructure, mechanical recycling and advanced recycling projects. (Packaging Gateway)
- Restricting virgin plastic production is key to tackling climate change, according to the EU’s top environmental official. The statement comes ahead of a United Nations meeting to launch talks on the first global treaty to combat plastic pollution. Consumer brands such as Coca Cola and PepsiCo have called on the UN pact to include cuts in plastic production, although that could face resistance from major oil and chemical firms. (Reuters)
- Greenpeace has urged Russia to sign onto the global plastic reduction treaty that will be discussed at the UN Environment Assembly (UNEA) in late February. The environmental group has also launched an online petition addressed to Russia’s environmental minister, asking him to back a proposed resolution on plastics reduction at the UNEA. Russia has said that it plans to ban the use of single-use plastic products by 2024, and also aims to make 85% of all plastic packaging produced in the country recyclable by 2030. (The Moscow Times)
