Food and drink company Princes has announced that it has invested over £750,000 in UK recycling this year by ensuring all of its packaging recycling evidence is sourced from UK reprocessors.
The UK Packaging Waste Regulations instruct that UK businesses with an annual turnover of £2 million that handle over 50 tonnes of packaging must show they have met Government recycling targets by acquiring PRNs from recycling businesses.
This income from PRNs can be used by recycling firms to invest in their ability to process increasing amounts of packaging waste sustainably.
Approximately 52% of recovery notes required by UK businesses are issued by UK recyclers.
Princes corporate relations director David McDiarmid said: “By purchasing export PRNs, businesses are moving potential investment into the UK’s recycling capacity overseas. At a time when single-use packaging is under such heavy scrutiny, we need to improve the UK’s ability to recycle sustainably.
“As a business, we feel by working with Valpak, our chosen compliance scheme, to purchase all of our evidence from UK recyclers in 2018, we are investing in that much-needed infrastructure.”
He added that a reason for the firm’s investment was that recycling technology and scalability is developing and will speed up with more UK investment. Another is that plastic recycling needs a “much more advanced infrastructure” to ensure we recycle and reuse as much plastic as we can, based on circular economy principles.
Valpak chief executive Steve Gough said: “Valpak was very pleased to be given this challenge from Princes. We purchase more UK evidence than any other compliance scheme in the UK, and by Princes supporting us in this way, we can ensure their evidence costs are channelled to UK reprocessing.
“This type of decision helps us direct funding towards UK reprocessing on behalf of our customers and therefore help investment in UK capacity.”