Foundation Report shows plastics are too valuable to waste.
Press Release Summary:
Patty Long, Senior VP of Industry Affairs with SPI: The Plastics Industry Trade Association, issued remarks regarding Ellen MacArthur Foundation’s report, "The New Plastics Economy: Rethinking the Future of Plastics." Report estimates that 95% of the value of plastic packaging material, a total worth $80-120 billion annually, is lost to the global economy due to the fact that many of these items are only used once. SPI shares the goal of trying to reclaim that lost value.
Original Press Release:
Plastics Industry: Ellen MacArthur Foundation Report Shows Plastics Too Valuable to Waste
WASHINGTON — Patty Long, Senior Vice President of Industry Affairs with SPI: The Plastics Industry Trade Association, which represents the $427-billion U.S. plastics industry, issued the following remarks today regarding the Ellen MacArthur Foundation’s recent report, “The New Plastics Economy: Rethinking the Future of Plastics:”
“Plastics are a valuable resource throughout their lifespan. From the time they’re manufactured, to when they’re used in packaging, healthcare, transportation, construction and consumer safety applications, and on to when they’ve reached end-of-life, these materials are valuable. They can always be put to better use than being buried in a landfill or, even worse, carelessly disposed of.
“If anyone hates seeing these materials wasted, it’s the plastics industry, and conversely, no industry wants to see these materials put to their highest, best use more than we do.
“The Ellen MacArthur Foundation’s recent report, “The New Plastics Economy: Rethinking the Future of Plastics,” estimates that 95 percent of the value of plastic packaging material, a total worth $80-120 billion annually, is lost to the global economy due to the fact that many of these items are only used once. SPI shares the goal of trying to reclaim that lost value.
“That’s why SPI is engaging the entire plastics supply chain to find, develop and implement market-driven solutions to the collection challenges that prevent plastic materials from having more than one life, whether that’s through recycling, energy conversion or any other technology that derives value from plastics that would otherwise become litter or landfill fodder.
“We look forward to working with world policymakers and thought leaders to move toward a world in which none of these valuable materials are ever wasted.”
Founded in 1937, SPI: The Plastics Industry Trade Association promotes growth in the $427 billion U.S. plastics industry. Representing nearly one million American workers in the third largest U.S. manufacturing industry, SPI delivers legislative and regulatory advocacy, market research, industry promotion and the fostering of business relationships and zero waste strategies. SPI also owns and produces the international NPE trade show. All profits from NPE are reinvested into SPI’s industry services. Find SPI online at www.plasticsindustry.org and www.inthehopper.org.
"From resin suppliers and equipment makers to processors and brand owners, SPI is proud to represent all facets of the U.S. plastics industry," said William R. Carteaux, president and CEO, SPI. "Our most recent economic reports show that the plastics industry as a whole is resilient, and has come through the recession significantly better than other U.S. manufacturing sectors."
