The Gulf Petrochemicals and Chemicals Association (GPCA) has highlighted the findings of a new study by Trucost, a leading environmental research organization, that finds the environmental cost of using plastics in consumer goods and packaging is nearly four times less than if plastics were replaced with alternative materials. <\/p>\n
The study is based on natural capital accounting methods, which measure and value environmental impacts\u2014such as consumption of water and emissions to air, land and water\u2014which are not typically factored into traditional financial accounting.<\/p>\n
Previous reports, such as \u201cValuing Plastics\u201d (2014) by Trucost and \u201cThe New Plastics Economy: Rethinking the Future of Plastics\u201d (2016) by the World Economic Forum Ellen MacArthur Foundation and McKinsey & Company, only examined the environmental costs of using plastics. <\/p>\n
Trucost\u2019s latest study, \u201cPlastics and Sustainability: A Valuation of Environmental Benefits, Costs, and Opportunities for Continuous Improvement,\u201d builds on earlier research by comparing the environmental costs of using plastics to alternative materials and identifying opportunities to help lower the environmental costs of using plastics in consumer goods and packaging. <\/p>\n
Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, said: \u201cThe use of plastics in everyday situations, such as shopping, has been frequently in the news of late. Trucost has conducted an in-depth study into the plastics industry and alternatives to traditional materials, with the astounding result that alternative materials actually come with a substantially higher environmental cost. This is crucial to consider when discussing the future use of plastics in consumer goods throughout the GCC.\u201d <\/p>\n
These significant results disrupt a common misperception around plastics. The latest research has found that replacing plastics in consumer products and packaging with a mix of alternative materials that provide the same function would increase environmental costs from US$139 billion to US$533 billion annually. That\u2019s because strong, lightweight plastics help us do more with less material, which provides environmental benefits throughout the lifecycle of plastic products and packaging. <\/p>\n
The study also concluded that the environmental costs of alternative materials can be lower per ton of production but are greater in aggregate due to the much larger quantities of material needed to fulfil the same purposes as plastics.<\/p>\n
In addition, the report\u2019s authors recommend steps to help further reduce plastics\u2019 overall environmental costs, such as by increasing the use of lower-carbon electricity in plastics production, adopting lower-emission transport modes, developing even more efficient plastic packaging, and increasing recycling and energy conversion of post-use plastics to help curb ocean litter and conserve resources. <\/p>\n
\u201cWe are very excited to present \u2018Plastics and Sustainability,\u2019 the largest natural capital study ever conducted for the plastics manufacturing sector,\u201d said Libby Bernick, Senior Vice President – North America for Trucost. \u201cThis report provides the clearest picture to date of the relative costs and benefits of plastics compared to alternative materials as well as important opportunities to enhance the environmental performance of using plastics in consumer goods.\u201d<\/p>\n
\u201cWe now have a fuller picture of the environmental benefits of using plastics,\u201d said Steve Russell, Vice President of Plastics for the American Chemistry Council, which commissioned the study. \u201cFrom lighter, more fuel-efficient cars to smart packaging that helps our favourite foods last longer; our industry is committed to ongoing innovations that will advance sustainability across major market sectors and the globe.\u201d<\/p>\n
“There is now quantifiable proof that plastics, in its various forms, play a significant role in providing innovative plastics solutions to societal challenges,\u201d said Craig Halgreen, Vice President, Corporate Sustainability, Borouge & Leader, Plastics Committee Sustainability Taskforce, GPCA. \u201cThis report emphasizes the importance of product innovation and eco-friendly after-life solutions such as sustainable municipal waste collection and management practices. It also highlights the responsible role of mechanical recycling in creating a circular economy and reducing plastics marine litter.\u201d <\/p>\n
\u201cThe GCC currently produces 26.5 million tons of plastic each year, according to our research,\u201d concluded Dr. Al-Sadoun. \u201cThis study proves that these enterprising manufacturers are on track towards achieving sustainability targets\u2014a focus that is increasingly in public conversation due to the various national strategies of the Arabian Gulf\u2019s leadership.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Gulf Petrochemicals and Chemicals Association (GPCA) has highlighted the findings of a new study by Trucost, a leading environmental research organization, that finds the environmental cost of using plastics in consumer goods and packaging is nearly four times less than if plastics were replaced with alternative materials. The study is based on natural capital […]<\/p>\n","protected":false},"author":2,"featured_media":3217,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"1","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":0,"_extra_hide_author_box":"1","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-3215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n