Recycling Technologies is pleased to announce its support for a new action plan, laid out in a new report, The New Plastics Economy: Catalysing Action, which was launched by the World Economic Forum and the Ellen MacArthur Foundation at Davos. The report presents a pathway to increasing global recycling rates for plastic packaging from just 14% today to 70%.
Recycling Technologies along with thirty-nine businesses and government leaders have endorsed the new action plan to tackle global plastics issues, and together are working to create a more effective global system for plastics. The report provides a clear transition strategy for the industry to design better packaging, increase recycling rates and introduce new models for making better use of packaging. The action plan was produced as part of the New Plastics Economy initiative, which was launched in May 2016 as a direct result of Project MainStream, a multi-industry, CEO-led collaboration led by the World Economic Forum and the Ellen MacArthur Foundation.
Adrian Griffiths, CEO at Recycling Technologies commented: “The issue of waste plastic is clearly a growing concern within the industry and to the wider public. This report outlines a clear strategy for the industry to provide better recycling rates by turning waste plastic into a resource that can be re-used. At Recycling Technologies we have designed and developed a chemical process that can contribute to creating a better system for plastics”.
Recycling Technologies’ ambition is to provide a scalable solution to boost global recycling rates for plastics. The company has designed the RT7000, a machine incorporating a chemical recycling process, which will be assembled on production lines then installed at Material Recovery Facilities [MRFs] around the world. Through this innovative solution to boosting plastics recycling, Recycling Technologies will contribute to creating a circular economy for plastics, which will ultimately dramatically reduce the negative impacts of plastic waste.
Dame Ellen MacArthur, Founder, Ellen MacArthur Foundation commented “Acting on the findings of the report published just a year ago, here in Davos, the New Plastics Economy initiative has attracted widespread support and provides a clear plan for redesigning the global plastics system. We now see strong initial momentum and alignment around the direction to take, paving the way for concerted action.”
The focus of the New Plastics Economy over the next year will be on bringing about wide scale innovation. The initiative will launch two global innovation challenges to kick-start the redesign of materials and packaging formats, and begin building a set of global common standards for packaging design, concentrating initially on the most impactful changes. It will also improve recycling systems by delivering collaborative projects between participant companies and cities.