How a circular economy can help shift the plastics industry agenda

In this episode of the Sustainability Matters podcast, the speakers discuss technologies enabling greater plastic recyclability and closing the loop in the value chain.

Each year, the world produces 300 million tons of plastics, however, just 20% of it ends up back for recycling, with even less actually getting recycled. As plastics are an important part of improving the quality of life for a growing population and aren’t going anywhere, how can we solve the plastics crisis with circular solutions? And how can major plastics companies play a leading role in the solution?

In the latest episode of the Sustainability Matters podcast, we look specifically at the case of Eastman Chemical Company’s commitment and investment in circular solutions to help address the plastics crisis. Host, Bruno Sarda, and Velislava Ivanova, EY Americas Chief Sustainability Officer, and Climate Change and Sustainability Services Leader, are joined by Brad Lich, Executive Vice President and Chief Commercial Officer at Eastman, to discuss Eastman’s innovative approach to closing the plastics value chain loop.

Lich begins the discussion by explaining why circularity is a core part of Eastman’s business strategy. He explains the importance of recycling in closing the loop in the value chain, focusing on molecular recycling and how it complements traditional mechanical recycling. Lich stresses that the innovation to solve the plastics and recycling problem isn’t decades away, it is happening today through these circular and innovative solutions.

Lich and Ivanova discuss how no single company or industry can find solutions to the plastic pollution crisis on their own. The key for any industry wishing to move toward a circular model is to develop collaborations and partnerships.

Key takeaways:

  • Adopting circular production is key to managing waste and tackling climate change.
  • Innovation to make plastics truly circular is happening today.
  • Demand for circular solutions in the plastics industry is rising, as customers push for greener products.
  • Molecular recycling complements traditional mechanical recycling by addressing its shortcomings and avoiding end-of-life.
  • New innovative recycling technologies lower greenhouse gas impact in comparison to traditional processes
  • Collaboration among companies, NGOs and regulators is essential to drive investments and find solutions. No company can do it alone.
  • Companies need to embed circularity into their future strategies and have top-down commitment from senior leadership.

You can also listen to this podcast on Apple and Spotify.

For your convenience, full text transcript of this podcast is also available. Read the transcript.

Presenters

Bruno Sarda
Principal, Climate Change & Sustainability Services, Ernst & Young LLP
Velislava Ivanova
EY Americas Chief Sustainability Officer; EY Americas Climate Change and Sustainability Services Leader

Podcast

Season 5, Episode 2

Duration 23m 01s

In this series

Series overview
(Event List - Manual)

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Bruno Sarda is joined by guests from WPP to discuss the complexity of the media decarbonisation, initiatives to address it and the industry collaboration on the journey to net zero.
Podcast

Season 5, Episode 1

Duration
26m 50s

Presenters

Bruno Sarda

Principal, Climate Change & Sustainability Services, Ernst & Young LLP

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In this episode, the speakers discuss what we can expect from the ISSB and how it will impact the future of ESG disclosures for businesses.
Podcast

Season 4, Episode 10

Duration
27m 57s

Presenters

Bruno Sarda

Partner/Principal, Climate Change & Sustainability Services, Ernst & Young LLP

Terence Jeyaretnam

EY Oceania Climate Change and Sustainability Services Partner, EY Australia Reconciliation Leader

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Podcast

Season 4, Episode 9

Duration
34m 31s

Presenters

Bruno Sarda

Principal, Climate Change & Sustainability Services, Ernst & Young LLP

How the Corporate Sustainability Reporting Directive could impact businesses globally

In the first episode of the sustainability disclosures mini-series, Bruno Sarda and his guests discuss the EU’s new Corporate Sustainability Reporting Directive (CSRD) and its impact on businesses.
Podcast

Season 4, Episode 8

Duration
27m 57s

Presenters

Bruno Sarda

Principal, Climate Change & Sustainability Services, Ernst & Young LLP

COP27: The African and Latin American perspective

In the latest episode of the Sustainability Matters podcast, Bruno Sarda and guests discuss the new COP27 initiatives from the perspective of the Africa and Latin American regions.
Podcast

Season 4, Episode 7

Duration
34m 04s

Presenters

Bruno Sarda

Principal, Climate Change & Sustainability Services, Ernst & Young LLP

How sustainability can prevail during times of geopolitical uncertainty

In this episode of the Sustainability Matters podcast, Bruno Sarda and Matthew Bell examine how CSOs can maintain sustainability as a key priority in a changing geopolitical environment.
Podcast

Season 4, Episode 6

Duration
25m 41s

Presenters

Bruno Sarda

Principal, Climate Change & Sustainability Services, Ernst & Young LLP

How redefining the circular economy could reshape a sustainable planet

Chris Hagler welcomes Antonis Mavropoulos and Mark Weick to discuss how a circular economy may lead to a more sustainable planet.
Podcast

Season 4, Episode 1

Duration
34m 45s

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

In this episode of the Sustainability Matters Podcast, Jeff Wooster, Global Sustainability Director for Dow Packaging and Specialty Plastics, discusses actions that businesses can take to enhance the plastics value chain.
Podcast

Season 3, Episode 5

Duration
40m 29s

Presenters

EY Global

Ernst & Young Global Ltd.