How Close Are We To a New Plastics Economy?
During the World Economic Forum earlier this year in Davos, Switzerland, the Ellen MacArthur Foundation released a report on the New Plastics Economy. The United Kingdom-based NGO, which is dedicated to the promotion of a worldwide circular economy, acknowledges that plastics have been important to global commerce. But in this 120-page report, the Foundation says too much value is lost as massive amounts of plastic, especially what is used for packaging, ends up in landfill. As the production and consumption of this material are expected to increase rapidly in the coming years, the results of an unchecked plastics industry could include long-term risks to public health, further destruction of the world’s oceans and a loss of economic productivity. Many organizations tout a closed-loop, zero-waste system, also called a circular economy. But the Ellen MacArthur Foundation arguably offers the most detailed research and compelling suggestions on how the world's economy can benefit from treating plastic more as a resource and less as waste. So, almost one year after its release, is the new plastics initiative gaining any traction? Read the full article, part of a resource consumption series on Triple Pundit.