Sustainable Plastics - March/April 2023 - 17

circularity
Mike Stockman
in system-level initiatives such
as reuse models, design and
innovation, collection and recycling,
and policy discussions
and advocacy. A shift towards
a shared responsibility mindset
throughout the value chain can
help build momentum for a systemwide
transition to circularity.
While this approach is not
particularly complex, companies
today struggle to design
and implement circular strategies
for a variety of reasons.
Clearly pinpointing the most
important actions is a challenge,
as there is a significant
lack of data on the economic
and environmental impact of
companies' respective packaging
portfolios. This leaves
companies without clarity on
what exact actions should be
taken, across which products in
their portfolio, to drive the most
change. Furthermore, there is a
consistent lack of resources allocated
to creation of long-term
strategies for circularity and
material usage. Without a team
dedicated to designing a strategy
and funding earmarked for
circularity initiatives, it is unlikely
that any company will be able
to make significant progress.
Lastly, given that infrastructure
for key aspects of a circular system
(e.g., PCR feedstock, reuse
Plastic IQ has assembled
a library of levers to help
consumer packaged
goods companies minimize
their plastic waste.
A holistic approach that
considers impact to
pollution, GHG emissions,
costs, and virgin
plastic usage is critical
to developing a feasible
long-term strategy
models, etc.) is lacking, many
companies are hesitant to be
the first movers in the space.
Businesses can begin tackling
some of the identified issues
and applying this approach
through using readily available
tools, such as Plastic IQ, ReSource,
and Circulytics. These
tools enable companies to leverage
existing data to assess their
packaging usage and identify
opportunities for circularity that
are not contingent upon broader
downstream changes. As stakeholders
throughout the supply
chain invest downstream in recycling
and circularity, consumer
goods companies must lead
the way in bringing upstream
solutions to the table. Shifting
focus further upstream is the key
to making recycling 'work'.
Packaging sustainability is
no longer optional and organizations
choosing to act now
could enjoy early-mover benefits,
such as strengthened reputational
capital, green product
premiums or more competitive
raw-material costs, due to fixed
prices locked into supplier contracts
for the future.
Bolster up the loop !
Contact us !
Metal carboxylates based Catalysts and
Additives for bio-polymer production
and advanced recycling Processes
March/April 2023
17
Sustainable Plastics - March/April 2023

Table of Contents for the Digital Edition of Sustainable Plastics - March/April 2023
