Petrochemicals – Circular-Economy – rPET 14-02-2022

Petrochemicals – Circular-Economy – rPET

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Petrochemicals - Circular-Economy - rPET

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-Who’s Afraid of a Global Plastic Treaty?

A global plastic treaty is certain to be on the table at the United Nations Environment Assembly at the end of the month. Should the plastics industry be worried?

At the end of this month, the fifth session of the United Nations Environment Assembly (UNEA 5.2) will resume live in Nairobi and online.

One of the agenda items, which has been gaining a lot of traction leading up to the gathering, is a global plastic treaty.  Petrochemicals – Circular-Economy – rPET

There is significant interest in a UN treaty, according to Planet Tracker, with 161 countries and some of the world’s largest brand owners and retailers lending support. Largely absent from this list is the plastics industry. That’s a big mistake, writes Helen McGeough, Senior Analyst, Plastics Recycling, at business intelligence firm ICIS. Whether or not you consider the incessant reports on the proliferation of “toxic plastics” to have substance, “the pressure on the plastics industry and call for change will not only continue but intensify at pace,” notes McGeough. She thinks industry should join the party.Petrochemicals – Circular-Economy – rPET

But what if you’re just not welcome?

Major brands call for legally binding treaty on plastic pollution

In advance of the assembly, scheduled for Feb. 28 to March 2, several converters and materials suppliers, brand owners and retailers, waste management firms, and financial institutions have signed on to a Business Statement for a Legally Binding UN Treaty on Plastic Pollution. It calls for the development of an international, legally binding instrument that:

  • Includes both upstream and downstream policies, aiming to keep plastics in the economy and out of the environment; reduce virgin plastic production and use; and decouple plastic production from the consumption of fossil resources.
  • Sets a clear direction to align governments, businesses, and civil society behind a common understanding of the causes of plastic pollution and a shared approach to address them. For companies and investors, this creates a level playing field and prevents a patchwork of disconnected solutions, while setting the right enabling conditions to make a circular economy work in practice and at scale.Petrochemicals – Circular-Economy – rPET
  • Provides a robust governance structure to ensure countries’ participation and compliance, with common definitions as well as harmonized standards applicable to all. This facilitates investments to scale innovations, infrastructures, and skills in the countries and industries most in need of international support.

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