How plastics can play a role in contributing to the circular economy

The use of plastics has grown significantly in the past 50 years. Plastics are a versatile material that are a part of many household and industrial products. Unfortunately, plastic waste in the environment has also grown, particularly in the oceans, threatening natural ecological systems.

In this episode, EY’s Chris Hagler welcomes Jeff Wooster, Global Sustainability Director for Dow Packaging and Specialty Plastics, and Jamie Mattison, Senior Manager in EY’s Climate Change and Sustainability practice. Together, they discuss actions that businesses can take to enhance the plastics value chain, supporting increased collection rates with the manufacturing of materials from plastic waste.

Key takeaways include:

• Reexamine the types of waste that can be used as input materials by considering unconventional end products and innovative technologies.
• Consider making public commitments to circular economy goals, which can signal to the market that the organization is ready to make long-term investments in R&D pilots, as well as provides a goal to the company’s employees.
• Partner with industry competitors to drive the demand for recycled materials, which is needed to make new technologies financially viable. Teaming with nongovernmental organizations and educators supports the demand for materials by educating consumers to enhance proper material collection.