Achieving the circular economy: a matter of synergies
The future of industry and of the planet depend on a commitment to fully implement a circular economy. To implement it, we can no longer rely on the good will of individuals, but joint actions must be put in place between social economic and political parties. This is the only way to promote innovation and bring new materials and sustainable technologies to an economy of scale. These are complex challenges, but with enormous potential: it has been calculated that the circular economy could generate economic benefits of up to € 4 trillion by 2030.
The plastics industry is the one most involved in the new changes. On the one hand with the production of alternative materials to synthetic polymers of fossil origin, on the other with the search for innovative production processes that emit less CO2, finally with the recovery of waste and scraps and their intelligent reuse in the form of recycled raw material.
Global resource consumption has more than tripled since 1970 and it is estimated that the expected economic recovery of 2021 will generate the second increase in CO2 emissions in history. In addition, countries with emerging economies, do not have access to gathering and disposal of waste: a serious threat to pollution and the protection of the environment of the whole planet.
The only opportunity is to implement the circular economyon a global level. It is the key to achieving climate neutrality, resource conservation and environmental protection. Covestro, as a leader among plastics manufacturing companies, is ready to make its contribution to tackle a great transition together with other social and political actors and accelerate the pace towards greater circularity. When it comes to decarbonisation, the polymer chemical industry faces a double challenge because fossil resources and especially crude oil serve not only as a source of energy but also as a source of raw material in the production process.