The backdrop: Startups that seek close supply and demand gap recycled plastics
Source: https://www.greenbiz.com/article/these-startups-seek-close-supply-and-demand-gap-recycled-plastics
Author: Elsa Wenzel
Only 4.5 percent of plastic was recycled in the United States in 2018, according to the U.S. Environmental Protection Agency. Globally it’s just twice that, according to the Organization for Economic Cooperation and Development, which blamed plastics for more than 3 percent of global greenhouse gas emissions. Meanwhile, more than 1,000 businesses, government agencies and organizations representing 20 percent of the market for plastics packaging have signed on since 2018 to the Ellen macArthur Foundation's Global Commitment to galvanize a circular economy for plastics. Among the organizations setting various targets for 2025 - including Apple, Coca-Cola and Walmart- the adoption of recycled plastics, especially PET for packaging, has accelerated the decline in the use of virgin plastic.