Only 14% of plastics are recycled – can tech innovation tackle the rest? A new group of companies is innovating on the problem of plastics recycling by tackling everything from styrofoam to Ziploc bags By Mary Catherine O'Connor Wednesday 22 February 2017 10.44 EST Large companies have developed plant-based alternatives to conventional, petroleum-based plastic so that they can break down without contaminating the soil and water. The market opportunity has attracted small, young companies that focus on developing recycling technology to tackle that troublesome 30% of plastic packaging that is headed to landfills at best, and, at worst, to our rivers, lakes and oceans. The world recycles just 14% of the plastic packaging it uses. Even worse: 8m tons of plastic, much of it packaging, ends up in the oceans each year, where sea life and birds die from eating it or getting entangled in it. Some of the plastics will also bind with industrial chemicals that have polluted oceans for decades, raising concerns that toxins can make their way into our food chain.
Recycling the remaining 86% of used plastics could create $80bn-$120bn in revenues, says a recent report by the Ellen MacArthur Foundation. But those revenues will never be fully achieved without designing new ways to breakdown and reuse 30% (by weight) of the plastic packaging that isn’t recycled because the material is contaminated or too small for easy collection, has very low economic value or contains multiple materials that cannot be easily separated. Think of candy wrappers, take-out containers, single-serving coffee capsules and foil-lined boxes for soup and soy milk. Large companies have developed plant-based alternatives to conventional, petroleum-based plastic so that they can break down without contaminating the soil and water. The market opportunity has attracted small, young companies that focus on developing recycling technology to tackle that troublesome 30% of plastic packaging that is headed to landfills at best, and, at worst, to our rivers, lakes and oceans. Read more here
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7/28/2017 02:48:16 am
It’s really agonistic to see that only 14 percent plastic is recycled; I mean what else happens with the rest 86 percent. The fault lies not merely in the people who are unconcerned with this loss but with the tech leaders who are not paying heed to this fact.
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6/28/2018 06:32:25 am
This is good initiative taken by the JpMorgan team and this step help to do a lot of good development in Technology and we will see the result very soon.
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9/22/2018 06:46:43 am
I think that the bigger problem than these low percent of recycled plastic is in a huge percent of plastic debris in our environment.
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12/12/2018 02:40:02 am
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STOP THE WILLIAMS FRACKED GAS PIPELINE THROUGH NY HARBOR! MY TOP 5 FAVORITE BOOKS ABOUT NY HARBOR 1. Field Guide to the Neighborhood Birds of New York City by Leslie Day 2.Heartbeats in the Muck by John Waldman 3. The Fisheries of Raritan Bay by Clyde L. MacKenzie Jr. 4. Waterfront: A Walk Around Manhattan by Phillip Lopate 5. The Bottom of the Harbor by Joseph Mitchell Archives
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