Sustainability goals: are you in or out?
How long can plastic companies go without focusing their goals on sustainability? Leading market insights have indicated that not only are sustainable goals the key to businesses succeeding, but they also need to be completely transparent about how they plan to achieve them. We cannot go on without keeping sustainability at the center of what we do.
In the plastics industry today, we are expected to adapt and evolve. Plastics are a key part of the global economy, but the current plastics economy has major disadvantages: after a first short use cycle, 95% of plastic packaging material value, or USD 80–120 billion annually, is lost to the economy (Ellen MacArthur Foundation).
Wipak has been conscious of this for years and is well into our journey of achieving carbon neutrality by 2025. In Europe, we have until 2030 for all packaging to be reusable or recyclable in a cost-effective way. The European Commission's directive on packaging waste indicates that our objectives must be concentrated on reducing the number of materials used in packaging, as well as designing for recyclability and supporting innovation to make plastic products easier to recycle. The pressure is also on to provide these kinds of solutions to market leaders.
But we cannot do it alone. As we strive for a circular economy, we require partners like Digimarc and initiatives like the European Brand Association's Holy Grail 2.0 to drive scaled-up business action and engagement across the entire plastics value chain.
Since 2018 we have collaborated with Digimarc, whose invisibly printed digital barcodes on packaging enable users throughout the complete value chain to quickly scan or detect information. These are also extremely effective at increasing recycling accuracy and sorting. The Holy Grail 2.0 project is pioneering digital watermarks for smart packaging recycling in the EU, alongside over 85 companies and organizations from the complete packaging value chain.
The clock is ticking. Are you setting goals for a better future?
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