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MONIKA STUKOVA, CFA AND CHRISTOPHER MOORE
What a load of rubbish... and what can be done The world is producing twice as much plastic waste as two decades ago, with only 9% successfully recycled, according to a new OECD report. The Report’s key findings include: 1. Plastic consumption has quadrupled over the past 30 years, driven by growth in emerging markets. Global plastics production doubled from 2000 to 2019 to reach 460 million tonnes. 2. Global plastic waste generation more than doubled from 2000 to 2019 to 353 million tonnes. Nearly 40% of plastic waste comes from packaging. 3. Only 9% of plastic waste is recycled. 19% is incinerated, 50% ends up in landfill and 22% evades waste management systems and goes into uncontrolled dumpsites, is burned in open pits, or ends up in terrestrial or aquatic environments 4. In 2019, 6.1 million tonnes (Mt) of plastic waste leaked into aquatic environments and 1.7 Mt flowed into oceans. In the UK, we generate over two million tonnes a year of plastic waste, equivalent to ~35kg per person. We recycle less than 40% of waste plastic packaging. Unlike other waste streams, which in general are easily recoverable and recyclable, plastics are persistent and non-degradable.
The problem will simply get bigger and bigger unless/until we do something to fix it. Local authorities have been affected by several issues related to plastic waste. China’s ban on accepting certain types have meant that local authorities must find alternative end destinations for plastic waste. This has in turn increased their costs, as it is often difficult to find recycling solutions for certain types of black plastic and low-grade plastic. We believe that the aim should be to persuade local and regional authorities to support the installation of community-scale WtE conversion plants, which can deliver “clean” energy to their communities, at competitive cost, independent of gas and oil market fluctuations. A truly “Circular Economy”, in which local businesses can participate at various levels. But how?
