SUSTAINABLE INSIGHT

Efforts to Reduce Plastic Waste Could Drive Long-Term Shifts in Business Models

Mon 19 Apr, 2021 - 12:10 PM ET

Regulations are gradually tightening on plastics to reduce plastic waste, although this has a limited impact on plastic production. As social trends shift towards sustainability, plastic end-user sectors are exposed to regulatory risks. The petrochemicals sector will undergo long-term shifts on plastics as recycling technology and infrastructure improve.Regulators are increasingly banning single-use plastics and setting restrictions on plastic disposal practices in response to environment and public health concerns. Policymakers are also looking to achieve a more “circular” economy, reducing the amount of resources needed to sustain the economy and the waste produced.

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