Welcome to the Plastics Weekly, NEO’s regular news monitoring of the plastics industry.
This week’s highlights:
- Nearly half of all companies with at least $1 billion in annual revenue have failed the Plastics Scorecard produced by shareholder advocacy group As You Sow and the consultancy Ubuntoo. The 2024 Plastics Scorecard looked at 225 companies across 15 industries, giving each company a grade on a scale from A to F depending on their progress in reducing the amount of plastic they use, improving the recyclability of their products, and reusing post-consumer plastic waste. The report granted an F grade to 107 companies, including Amazon and Macy’s, and found that the amount of plastic used to generate each dollar in sales is actually rising. (GreenBiz)
- The U.S. Plastics Pact representing 80 companies — including Coca-Cola, Nestlé and Danone — has pushed back deadlines to drastically reduce their use of plastic, from 2025 to 2030. The new Roadmap 2.0 gives signatories five years longer to collectively hit their goal of 100% reusable, recycled and compostable packaging targets. For the end of 2022, participants’ numbers remained below 50% from an original baseline of 37%. (Packaging Gateway)
- Indoenisa-based Prevented Ocean Plastic has opened its seventh high-capacity waste plastic collection centre in Makassar, Indonesia; it expects to process 500 tonnes of recycled plastic every month and keep waste out of the ocean. At least 8 million tonnes of plastics leak into the ocean every year, according to the World Economic Forum – the equivalent of dumping a garbage truck of waste into the ocean every minute. (Packaging Europe)