The non-profit NGO ChemSec has published their new report (“What goes around”) which aims to address the importance of a circular economy which is free from (or significantly reduced levels of) substances of concern.
The Logika Group of companies (comprising Air Quality Consultants Ltd, Noise Consultants Ltd and Logika Consultants Ltd) worked with our partners eftec on the financial aspects of hazardous chemicals in the circular economy, the first assessment of its kind. This focussed on the potential financial opportunities for EU businesses from the upfront removal of chemicals of concern from products eventually entering the waste streams. In line with the wider report, this considered plastic packaging and textiles.
To evaluate the financial opportunity for the EU-based recycling industry, if hazardous chemicals are removed from future production of plastic packaging and textiles, we undertook the following three steps:
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Development of an overview of the current plastics market in the EU with a focus on the plastic packaging and textiles markets.
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Assessment of data on volumes of plastic waste, with a focus on plastic packaging and textiles.
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Evaluation of the future recycling market potential in the EU through the development of market projections with and without removal of hazardous chemicals from the plastic waste stream.
The overall findings of our work are that the phase-out of substances of concern from new materials could entail billions of Euros in business opportunities. If plastic packaging recycling rates can be increased by 5–30 percentage points, additional market opportunities in the order of €1.3–7.7 billion could be realised, per year by 2050. The report also suggests significant growth potential in textiles recycling.
David Tyrer, Technical Director of Environmental Policy & Economics at the Logika Group of companies, said “A transition to a circular economy in Europe is a hugely ambitious policy goal. Debates have typically focussed on the benefits in terms of resource efficiency, carbon neutrality and reducing human health and environmental harm. But, as part of a wider policy package, it presents a big commercial opportunity for European recyclers and their customers. With the European Commission’s chemical strategy for sustainability seeking to drive and reward the production and use of safe chemicals as part of non-toxic material cycles, the associated commercial opportunities deserve greater attention”.
For further details please contact David Tyrer at davidtyrer@logikagroup.com.
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