Despite the global momentum for a circular economy for plastics, companies across the value chain are constrained by the lack of alignment among leaders on the key levers needed to accelerate the transition, facilitate system transformation and scale up solutions. As a sector coalition, members of the business-to-business (B2B) chemical industry have gathered to develop a comprehensive roadmap that addresses the common pre-competitive challenges around circular design, collection and recycling, and aligns the industry around a set of priorities for collective action.
Currently, only 9% of all extracted materials circle back into the economy, and this must change quickly to avoid the worst effects of climate change, biodiversity loss and resource depletion. Companies are starting to take action on increasing their circularity, but without collaboration along value chains, progress is difficult and not happening at the speed and scale needed to address these global challenges.
The B2B chemical industry using industrial packaging includes companies from multiple sectors, such as agro-chemicals, flavors and specialty chemicals. Although their industrial packaging is often similar in format and resin type, their sustainability efforts are often dispersed and divergent, leading to a waste of resources and time. A coordinated approach to identifying and sharing best practices and investment opportunities will ensure that change happens at the speed and scale required.
We are building a coalition of members within the B2B chemical sector to define an actionable, measurable and user-friendly transition roadmap along the value chain per product use area. This cross-value chain collaboration will offer an opportunity to tackle challenges around product design, end of life management, reuse, technology gaps and business and financial models, aiming to enable circularity for plastics and packaging within the sector.