The European trade association revealed that its members intend to invest in the range of €2.6bn by 2025 to €7.2bn by the end of the decade in chemical recycling technology and infrastructure
PlasticsEurope said that European plastics producers have called for a mandatory European Union (EU) recycled content target of 30% for plastics packaging by 2030.
The appeal from the European plastics producers is in line with their support to the proposal of the European Commission (EC) for a mandatory recycled content target for plastics packaging.
PlasticsEurope said that it endorses the EC’s vision of preventing and cutting down excessive packaging and packaging waste. Furthermore, the trade association said that it welcomes the revision of the Packaging and Packaging Waste Directive (PPWD), an EU legislation that is important to the transition to a circular economy for plastics.
The association added that enabling policy framework and collaboration with the value chain is necessary for reaching the target.
According to PlasticsEurope, its members are already putting efforts to reach the 30% target by investing billions of Euros in an increased high-quality supply of recycled plastics and cutting-edge technology solutions.
The European trade association said that boosting chemical recycling is necessary for achieving the mandatory target. The association revealed that its members plan to invest in the range of €2.6bn by 2025 to €7.2bn by 2030 in chemical recycling technology and infrastructure.
PlasticsEurope president and Covestro CEO Markus Steilemann said: “The world must embrace the circular economy concept as the key to climate neutrality, resource conservation and environmental protection.
“The call for a regulated recycled content target for plastics packaging in the EU demonstrates our commitment to accelerate the transformation to a circular economy, helping implement the EU Green Deal and Circular Economy Action Plan.”
PlasticsEurope has also called for new systems thinking, higher-performing products, mindset and behavioural changes, new infrastructure, and eco-design innovation among others for reaching the target.
The association said that it should be ensured that recycled content is derived from all waste materials using a technology-neutral approach.
PlasticsEurope managing director Virginia Janssens said: “We need a harmonised EU policy framework that provides certainty and incentivises further investment in collection, sorting and recycling infrastructure and technologies, including chemical recycling. We must harness the power of the single market.
“However, systemic change requires concerted collaboration. It is only by working together with the EU institutions and the value chain that we can deliver on this target.”