Plastic waste has value. Today, science and economics have a way to take plastic waste, break it down into its basic building blocks and turn those building blocks into something useful again.
There is immense growth potential in a recycling industry that includes evolved waste management systems. We estimate current rates of recycling growth could drive $60 to $90B in investments –with about $100B more for collection and sortation—all while creating about one million new jobs.1
What’s more, with these economic opportunities come more ways to reduce carbon emissions because plastics circularity and climate action go together. Expanding the use of circular feedstocks from plastic waste will contribute to the industry’s net zero goals by lowering carbon emissions in manufacturing products and packaging by reducing the amount of fossil fuels used in making them.
Dow is also evaluating and revaluating manufacturing processes to produce packaging with as little carbon emissions as possible. We have a roadmap outlined which enables Dow to decarbonize our manufacturing while growing.
This roadmap includes replacing end-of-life assets with high-efficiency, low-carbon assets. This includes a multi-generation site decarbonization plan for each of our top 12 sites globally – which account for ~90% of our emissions. For example, Dow announced plans to build the world’s first ever zero carbon emissions (scope 1 and 2) cracker complex in Ft. Saskatchewan, Alberta.
As this new industry grows, Dow recognizes the need for a systems approach and is actively adopting new ways of working by investing in technologies, value chain partnerships, business models and waste management infrastructure. A global plastics pollution agreement can help accelerate the creation of a materials ecosystem and bring this system to scale.
1Estimates based on investment and job creation data from the U.S. Environmental Protection Agency, the American Chemistry Council, and The Recycling Partnership.