Report

The World Ocean Initiative: Rethinking plastics in a circular economy

2021-12-29 1:28 min Sustainability & Circular Economy

The World Ocean Initiative London, United Kingdom

In this report, Economist Impact examines the distinguishing characteristics of a range of plastic recycling technologies, presenting the results of an in-depth assessment informed by an advisory board and desk research. The report further explores the policy framework necessary to implement and scale up these emerging technologies. The findings are based on an extensive literature review, an advisory board meeting and an expert interview programme.

Executive Summary

The covid-19 pandemic starkly revealed people’s dependency on plastic as well as the ongoing failure of efforts to address a worldwide crisis of plastic waste. Globally, only 14-18% of plastic is recycled, while the rest is incinerated or landfilled, and some ultimately leaks into the environment, including waterways and the ocean. Rising concerns over plastic’s contribution to environmental pollution and climate change are driving governments and business leaders to rethink the plastics value chain, including strengthening recycling.

A wave of advanced recycling innovations has the potential to transform recycling practices, offering some important advantages over established mechanical recycling technologies. Various policies and industry initiatives are needed to implement and scale up these innovations and strengthen the overall recycled plastic value chain.

Key findings of the report

Emerging methods of advanced recycling can process flexible packaging and multi-material plastics, among the most prolific forms of plastic waste found in the ocean.
Advanced recycling technologies can produce higher-quality and higher-value outputs than mechanical recycling approaches.
Mechanical recycling remains the first port of call for the plastics recycling industry and is expected to co-exist and be complementary with advanced recycling approaches.
To prime demand for recycled materials, policymakers can adopt recycled content targets and reassess food-contact regulations.
To increase supply of recyclate, policymakers can enforce bans on exporting waste and landfilling, introduce extended producer responsibility (EPR) programmes and promote deposit return schemes.
EPR can be a useful funding mechanism for waste collection and to subsidise recycling operations, but may not be adequate for financing advanced recycling facilities.
Stakeholder collaboration can play a catalytic role by establishing a clear roadmap to implement emerging recycling technologies.