In a circular economy, materials and goods are used throughout their entire life cycle, from design and production to reuse or recycling. Products are reintroduced into the production process rather than being discarded, as is the case in the existing linear system.
The way plastic goods are developed, used, and recycled will change under the EU Plastics Strategy, which was proposed in 2018. By 2030, all plastic packaging sold in the EU must be recyclable, and microplastic usage must be limited.
The strictest regulations in the world have already increased recycling rates for plastic packaging in the EU to an all-time high of 41.5 percent, which is three times higher than in the US.
By 2025, the EU established a goal of recycling 50% of plastic packaging; this objective appears to be within reach at this time. Additionally, a separate collection goal of 77 percent for plastic bottles will be established in 2025, rising to 90 percent by 2029.
This comprehensive system will be dependent on the widespread adoption of extended producer responsibility schemes, which states that if a business sells packaged goods or packaging on the market in a nation, it is still entirely responsible for the costs associated with the collection, transportation, recycling, or incineration of those goods. In other words, the individual or business that causes pollution will have to pay a price for this unprecedented action.
The creation of a circular economy increases sustainable products, empowers consumers in terms of green transitions, imposes regulation on construction products as well as sustainable textiles.
These actions will lead to a reduction in pressure with natural resources, create sustainable growth and promote job creation within economies.
Read more on how to create and achieve a circular economy here.