Europe’s Plastic Policies and Impact on Petrochemical Markets

Following China’s footsteps, Europe is proposing expanded recycling strategies.

Since China’s ban on importing the world’s plastic waste began in January 2018, other countries have also felt an urgency to recycle more.

Europe’s proposed strategy to expand recycling efforts begins with Europe recycling just 41% of plastic waste today. The proposed strategy plans to reach 55% by 2030. The new rules on packaging, as well as having a better standardized system, is projected to save around €100 / ton that is collected.

With a significant reduction in plastic bag use, the focus now pivots to other single-use plastics and fishing gear. These plans include ensuring that waste generated on ships and gathered at sea are returned to land and handled there, as well as, reducing administrative burdens on ports, ships, and competent authorities.

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