Chemical giant Dow has said it plans to triple its plastic recycling target to 3 million tonnes by 2030 from the previous 1 million tonnes target.
It also intends to build an industrial ecosystem to collect, reuse or recycle waste.
Dow chair and chief executive Jim Fitterling said: “We are expanding our commitments to address plastic waste and meet customers’ increasing demands for more sustainable and circular products.
“Through investments in key technologies, infrastructure and strategic collaborations, we are expanding our Stop the Waste goal to reflect the transformation of Dow’s plastic franchise and leadership to enable a circular economy.
“We will increase the value of waste and enable a new industrial ecosystem to grow, which in turn will allow Dow to scale our ability to produce circular and low-carbon emission solutions.”
Dow has various agreements in place to expand its plastic recycling ability including:
- Agreements with Mura Technology to create multiple world-scale advanced recycling facilities in the US and Europe, collectively adding as much as 600,000 tonnes of annual capacity
- An investment to build the largest hybrid recycling site in France, managed by Valoregen
- A collaboration with Nexus Circular to create a circular ecosystem in Dallas, Texas for previously non-recycled plastics
- Mechanical recycling collaboration with Boomera LAR in Brazil
- An investment in Mr.Green Africa
- A memorandum of understanding with Lucro Pastecycle to develop and launch PE film solutions in India.