Welcome to the Plastics Weekly, NEO’s regular news monitoring of the plastics industry.
This week’s highlights:
- China, the world’s largest producer and consumer of plastics, must take the lead in slashing plastics usage and boosting recycling, as consumption by major countries is on track to nearly double by 2050. According to a new report by the environmental organisation Back to Blue, on its current trajectory, the world will not even reach peak plastic consumption by the end of this century. (South China Morning Post)
- Critics have called the Biden administration’s global plastics plan as “low ambition” and “unnderwhelming,” as the United States takes part in a UN effort to develop a global treaty or agreement to end plastic waste. Despite its recognition of a need to end plastic pollution by 2040, the U.S. proposal calls for individual national action plans as opposed to strong global mandates, and does not seek enforceable cuts in plastics manufacturing. (Inside Climate News)
- When it comes to decarbonising plastics, the 2050 deadline is closer than it seems, according to the WEF. To meet ambitious net-zero targets and net-positive aspirations, the plastics industry will need to rely on speed, people and policy. Plastics producers in Europe are committed to the transition, but much will depend on staying the course through current macroeconomic headwinds. But achieving these goals will ultimately form a competitive advantage for Europe and will mean significant progress in the fight against climate change. (World Economic Forum)