All Hands on Deck: Pressure Mounting from Consumers, Corporations, and Governments
Currently, 500 billion single-use plastic bottles are produced every year, but consumers are increasingly rewarding change by reaching for brands sporting sustainable packaging using recycled and compostable materials.
And 73% of shoppers have stated they are even willing to pay more for this, with 20% saying they’d be okay paying >10% more for the more eco-friendly option.
Meanwhile, the shift towards sustainability is being compounded by government legislation. The EU has mandated that bottles must contain at least 25% recycled plastic by 2025 and 30% by 2030, while the US is considering the Break Free From Plastic Act, a set of policy solutions to reduce plastic production.
Heightening scrutiny has led to over 500 organizations around the globe to commit to the common vision, led by the Ellen MacArthur Foundation, for a circular economy for plastics. To date, hundreds of global leaders in consumer goods have specifically pledged to integrate at least 25% recycled plastics into their supply chain by 2030.