Circular economy and waste management
The world generates more than 2 billion tons of municipal solid waste annually. Experts claim that 33% of this is not managed in an environmentally safe manner. Plastic pollution from waste is one of the greatest human-made threats our planet faces. Of the approximately 275 million metric tons of plastic waste produced annually, up to 12 million tons leak into oceans with dire environmental effects . Plastic being a fossil material, the lack of recycling of plastic also constitutes a severe climate problem. This has led to the understanding of a need to transform from a linear to a circular economy. The circular economy seeks to regulate and incentivize that resources are re-used and thus recirculated indefinitely and use of virgin materials are minimized.
To further the circular economy governments across the world are introducing extended producer responsibility regulation to make producers accountable for products and packaging also in the post-consumer phase. This type of regulation provides strong incentivizes product design that minimizes use of virgin materials and maximizes recyclability.
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