Companies Try Boosting Demand for Recycled Plastics
- Recycled plastic suddenly more expensive than virgin material
- Target, Coca Cola among companies pledging to use more
Photographer: Brent Lewin/Bloomberg
The economics of plastic recycling have suddenly been upended, thanks to a Chinese import ban and cheap U.S. oil used to make virgin plastic. That’s made recycled plastic suddenly more expensive than virgin plastic and made it more important to create corporate demand for recycled materials, according to Dylan de Thomas, vice president of industry collaboration at The Recycling Partnership.
The nonprofit, along with the Association of Plastics Recyclers, recently started recruiting companies to pledge to use more recycled plastics in their industrial facilities and supply chains. Target Corp., Procter & Gamble Co., Coca-Cola North America, Campbell Soup and Keurig Green Mountain Inc. are among those that signed on last month.