Recycling Technologies supports the New Plastics Economy report launched in Davos this week
Swindon, 17th January 2017 – Recycling Technologies is pleased to announce today its support for a new action plan, laid out in a new report, The New Plastics Economy: Catalysing Action, which was launched by the World Economic Forum and the Ellen MacArthur Foundation at Davos. The report presents a pathway to increasing global recycling rates for plastic packaging from just 14% today to 70%.
Recycling Technologies along with thirty-nine businesses and government leaders have endorsed the new action plan to tackle global plastics issues, and together are working to create a more effective global system for plastics. The report provides a clear transition strategy for the industry to design better packaging, increase recycling rates and introduce new models for making better use of packaging. The action plan was produced as part of the New Plastics Economy initiative, which was launched in May 2016 as a direct result of Project MainStream, a multi-industry, CEO-led collaboration led by the World Economic Forum and the Ellen MacArthur Foundation.
Adrian Griffiths, CEO at Recycling Technologies commented: “The issue of waste plastic is clearly a growing concern within the industry and to the wider public. This report outlines a clear strategy for the industry to provide better recycling rates by turning waste plastic into a resource that can be re-used. At Recycling Technologies we have designed and developed a chemical process that can contribute to creating a better system for plastics”.
Recycling Technologies’ ambition is to provide a scalable solution to boost global recycling rates for plastics. The company has designed the RT7000, a machine incorporating a chemical recycling process, which will be assembled on production lines then installed at Material Recovery Facilities [MRFs] around the world. Through this innovative solution to boosting plastics recycling, Recycling Technologies will contribute to creating a circular economy for plastics, which will ultimately dramatically reduce the negative impacts of plastic waste.
Dame Ellen MacArthur, Founder, Ellen MacArthur Foundation commented "Acting on the findings of the report published just a year ago, here in Davos, the New Plastics Economy initiative has attracted widespread support and provides a clear plan for redesigning the global plastics system. We now see strong initial momentum and alignment around the direction to take, paving the way for concerted action."
The focus of the New Plastics Economy over the next year will be on bringing about wide scale innovation. The initiative will launch two global innovation challenges to kick-start the redesign of materials and packaging formats, and begin building a set of global common standards for packaging design, concentrating initially on the most impactful changes. It will also improve recycling systems by delivering collaborative projects between participant companies and cities.
Link to download the report: http://newplasticseconomy.org/
Notes to editors:
About Recycling Technologies
Recycling Technologies Ltd was founded in 2011 with the strategic goal of enabling the recycling of residual plastic waste. Recycling Technologies has since then produced one of the most significant developments in the world of plastics recycling by creating a unique chemical process which can help to solve the huge global environmental problem around disposing of plastic waste. Building on research initially from Warwick University the process expanded and enhanced so it could accept and recycle the bulk of municipal and commercial plastic waste streams directly and chemically turn it into a clean hydrocarbon - Plaxx®. As Recycling Technologies develops it is looking to work more with the plastics industry to ensure the future for plastics as a very valuable material whilst reducing the use of virgin fossil fuel stocks and preventing the current issues surrounding plastic waste streams. For further information, please visit www.recyclingtechnologies.co.uk
The New Plastics Economy
The New Plastics Economy is an ambitious, three-year, $10 million, initiative to build momentum
towards a plastics system that works. Launched in May 2016, the New Plastics Economy is
supported by Wendy Schmidt, through The Eric and Wendy Schmidt Fund for Strategic Innovation,
as Lead Philanthropic Partner, and MAVA Foundation, Oak Foundation, and players of People’s
Postcode Lottery (GB), as Philanthropic Funders. Amcor, The Coca-Cola Company, Danone,
MARS, Novamont, Unilever, and Veolia are the initiative’s Core Partners.
Applying the principles of the circular economy, the New Plastics Economy brings together over 40
key stakeholders across the value chain to re-think and re-design the future of plastics, starting
with packaging. The initiative is led by the Ellen MacArthur Foundation in collaboration with a
broad group of leading companies, cities, philanthropists, policymakers, academics, students,
NGOs, and citizens.
The New Plastics Economy initiative focuses on five interlinked and mutually reinforcing building
1. Dialogue Mechanism – Bringing together for the first time a group of leading companies
and cities across the global value chain to complete collaborative demonstration projects and
inform the other building blocks
2. Global Plastics Protocol – Re-thinking plastic packaging materials, formats and after-use
systems and standards to provide an economically and environmentally attractive target state to
3. Innovation Moonshots – Mobilising targeted innovation ‘moon-shots’ focused on system
wide solutions that have the potential to scale globally
4. Evidence Base – Closing critical knowledge gaps by building an economic and scientific
evidence base from which to draw insights. An initial study with Plymouth Marine Laboratory
examines the socio-economic impact of plastics in marine environments.
5. Stakeholder Engagement – Engaging a broad set of stakeholders, including academics,
students, policymakers, NGOs, and industry associations in the redesign of a better system.
Through these actions, the New Plastics Economy initiative aims to set direction, inspire innovation
and build momentum towards the vision of a plastics system that works, moving the plastics
industry into a positive spiral of value capture, stronger economics and better environmental
Further information: newplasticseconomy.org|@NewPlasticsEcon
The Ellen Macarthur Foundation
The Ellen MacArthur Foundation was created in 2010 to accelerate the transition to a circular
economy. The Foundation works across five areas: insight and analysis, business and government, education and training, systemic initiatives, and communication. With its Knowledge Partners (Arup, IDEO, McKinsey & Co., and SYSTEMIQ), and supported by Core Philanthropic Funder (SUN), the Foundation works to quantify the economic opportunity of a more circular model and to develop approaches for capturing its value. The Foundation collaborates with its Global Partners
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