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:
- Saudi chemical manufacturing giant SABIC has announced a collaboration to create the first certified circular polymers produced through the advanced recycling of recovered mixed and used ocean-bound plastic. The company is partnering with Malaysia-based plastic recycling company HHI on the initiative. (Market Screener)
- Royal Dutch Shell Plc plans to build a biofuels plant in Singapore to meet its target of halving emissions by 2030. The plant, set to become Asia’s largest, will process the equivalent weight of about 7.8 billion plastic bags to produce pyrolysis oil, a liquid made from hard-to-recycle plastic waste. (Bloomberg)
- Swedish furniture retailer IKEA has committed to eliminating plastic from all its consumer packaging by 2028. The company currently consumes almost 920,000 tonnes of packaging material a year at the cost of more than €1 billion ($1.13 billion). (Packaging Gateway)