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Progress on plastics circularity solutions across the supply chain to attain high quality food grade recycled materials
Nearly 90% of plastics circularity capital in emerging markets went to Asia, mostly to recycling and recovery
~ March 31, 2023 – Eco-Business.com
Lack of capital, collection infrastructure & sorting facility remains a significant barrier to creating a profitable plastics circularity market.
However, positive changes are happening now. Companies and brandowners that need to meet their sustainability goals are pushing for high quality recycled plastics which drives further investment into technology solutions across the supply chain.
New data shows that global investors injected over US$4.1 billion into such solutions in emerging markets across the world over a five-year period since 2018, with Asia receiving the bulk of the investment.
In June 2023, Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, , to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
Despite the deployment of capital into circular economy solutions from government funding and private capital investments , we have to be realistic that Asia as a consumption-driven economy will continue to produce and consume plastics.
Governments & the plastics sector (the entire value chain from plastics production to recycling and recovery solution providers) need to come together to define clear goals, regulations to unblocking the challenges for a sustainable, circular plastics economy.
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