{"id":58064,"date":"2019-01-30T00:00:00","date_gmt":"2019-01-29T22:00:00","guid":{"rendered":"https:\/\/richardvanhooijdonk.com\/blog\/companies-can-benefit-from-supporting-sustainability-initiatives-and-profit-from-the-war-on-plastics\/"},"modified":"2021-09-29T13:08:18","modified_gmt":"2021-09-29T11:08:18","slug":"companies-can-benefit-from-supporting-sustainability-initiatives-and-profit-from-the-war-on-plastics","status":"publish","type":"post","link":"https:\/\/blog.richardvanhooijdonk.com\/en\/companies-can-benefit-from-supporting-sustainability-initiatives-and-profit-from-the-war-on-plastics\/","title":{"rendered":"Companies can benefit from supporting sustainability initiatives and profit from the war on plastics"},"content":{"rendered":"<ul class=\"bold-list\">\n<li>The war on plastics is heating up, with many countries joining the struggle<\/li>\n<li>Sustainability is often wrongly associated with extra costs<\/li>\n<li>Business opportunities arising from the war on plastics outweigh the threats<\/li>\n<li>An avalanche of pledges to the UK Plastics Pact<\/li>\n<li>Competitive and financial advantages of corporate social responsibility<\/li>\n<\/ul>\n<p>The steady stream of disturbing footage of the world\u2019s increasing plastics pollution, and the detrimental environmental impact of single-use plastics have sparked major concern among consumers, governments, and businesses alike. We\u2019ve all been aware of the effects of plastics pollution for decades, but the world is only now starting to deal with environmental issues like the exponentially growing Great Pacific Garbage Patch, (an area <a href=\"https:\/\/www.theoceancleanup.com\/updates\/the-exponential-increase-of-the-great-pacific-garbage-patch\/\">three times the size of France<\/a>), and other rapidly expanding oceanic trash islands.<\/p>\n<p>Consumers are now more concerned about plastics pollution than about unfair labour wages in developing countries or about carbon footprints. They have it firmly in their mind that \u2018plastic is the enemy\u2019 and are willing to support companies that pledge to do better. And fortunately, there\u2019s been a recent cascade of announcements by companies wanting to be part of the solution, instead of part of the problem.<\/p>\n<h2>The war on plastics is heating up, with many countries joining the struggle<\/h2>\n<p>The war on plastics is heating up, with many recycling and sustainability initiatives popping up all over the globe. As Carly Cassella <a href=\"https:\/\/www.sciencealert.com\/us-japan-refused-join-g7-charter-tackle-plastic-pollution-oceans\">writes<\/a> for <em>ScienceAlert<\/em>, \u201cUnder the G7 Ocean Plastics Charter, the UK, Canada, France, Germany, Italy and the European Union have all <a href=\"https:\/\/www.mrw.co.uk\/latest\/uk-joins-g7-ocean-plastics-plan\/10032013.article\">agreed<\/a> to increase plastic recycling by 50 percent, while also working towards 100 percent reusable, recyclable or recoverable plastics by 2030\u201d. On the website of the European Commission, it <a href=\"https:\/\/ec.europa.eu\/environment\/efe\/themes\/economics-strategy-and-information\/ambitious-new-strategy-make-plastic-fantastic_en\">says<\/a>: \u201cAdopted on 16 January 2018, the first-ever Europe-wide Plastics Strategy is laying the foundations for a new and sustainable plastics economy. The aim is that all plastic packaging on the EU market will be recyclable or reusable by 2030, the consumption of single-use plastics will be reduced, and the intentional use of microplastics will be restricted. By transforming the way in which plastic products are designed, produced, used and recycled, Europe is set to take the lead in tackling plastics waste \u2013 and creating new investment opportunities and jobs\u201d.<\/p>\n<figure id=\"attachment_2493\" aria-describedby=\"caption-attachment-2493\" style=\"width: 801px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-2493 size-full\" src=\"https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/sites\/4\/2019\/05\/The-war-on-plastics-1.jpg\" alt=\"A garbage-filled beach with a sea and partly cloudy sky in the background\" width=\"801\" height=\"533\"><figcaption id=\"caption-attachment-2493\" class=\"wp-caption-text\">The war on plastics is heating up, with many recycling and sustainability initiatives popping up all over the globe.<\/figcaption><\/figure>\n<p>More than forty countries across the world have taken legislative action to reduce their usage of single-use plastic bags. Bangladesh was the first country in the world to ban thin plastics in 2002 \u2013 after they were found blocking the nation\u2019s drainage systems following heavy floods &#8211; while China banned single-use plastic bags in 2008. New Zealand has announced plans to phase out single-use plastic bags within a year and will fine companies who keep distributing them. Most states and territories in Australia have also banned single-use plastic bags, and various African countries, such as Morocco, Senegal, South Africa, Gambia, Rwanda, Zimbabwe, and Botswana have either banned or instituted levies on plastic bags. In 2017, Kenya instituted a severe ban on (the production of illegal) plastic bags, with those not complying facing substantial fines and even prison sentences.<\/p>\n<p>While the rest of the world is stepping up to the plate, Japan and the US are the only G7 nations that avoid dealing with the plastics problem and have refused to sign the G7 Ocean Plastics Charter. In the US, single-use plastic policies are extremely complicated, with states, counties, and cities all having different policies in place. A city may pass an ordinance banning plastic bags, while the state could effectively overturn that ruling. Banning items like plastic utensils and straws is only really gaining some traction at local levels.<\/p>\n<h2>Sustainability is often wrongly associated with extra costs<\/h2>\n<p>Although many believe that operating a business in a sustainable manner costs more, in many cases, it actually costs less. Organic or biodegradable products or goods with recycled materials don\u2019t necessarily cost more to produce. The issue is that companies sell these products as \u2018higher value\u2019 or \u2018higher quality\u2019 &#8211; products that customers are willing to pay more for, which keeps prices high. To create lasting solutions to sustainability challenges, however, these products will have to become available \u2013 and affordable \u2013 on a much larger scale. Companies will also have to figure out how to get more out of their resources, or how to turn their waste into something others can use, and ultimately, they\u2019ll come out on top.<\/p>\n<p><iframe title=\"Plastic recycling: the beginning of a more sustainable life\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/ciwOVaze7Wc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Shelly K. Schwartzt&nbsp;<a href=\"https:\/\/www.cnbc.com\/id\/31373299\">writes<\/a> for <em>CNBC<\/em>: \u201cIn the 21st century, sustainability isn\u2019t just about saving the planet. It\u2019s about opportunity\u2014reinventing business models to better compete in the global economy or building shareholder value in ways that help to solve some of the world\u2019s most profound social, economic and environmental challenges\u201d. The proactive standpoints of some leading companies are encouraging and show us that being environmentally friendly doesn\u2019t necessarily equate to higher expenses or loss of business.<\/p>\n<h2>Business opportunities arising from the war on plastics outweigh the threats<\/h2>\n<p>For instance, the war on plastics and the evolution towards increasing <a href=\"https:\/\/blog.richardvanhooijdonk.com\/en\/ikea-is-a-shining-example-of-the-circular-economy-and-sustainability-mega-trend\/\">sustainability<\/a> presents major opportunities for the waste and recycling sectors, which are guaranteed a major increase in volume in the future, particularly following China\u2019s ban on importing foreign waste. As the London-based market analyst Joshua Warner <a href=\"https:\/\/www.ig.com\/nl\/nieuws-en-analyse\/trading-opportunities\/war-on-plastic--the-winners-and-losers-of-the-plastic-revolution-180625\">writes<\/a> for IG, a world leader in online trading, \u201cThe opportunities that are arising from the crackdown on single-use plastic outweigh the threats. Governments are starting to incentivise innovative companies to come up with new sustainable materials and ways to tackle the existing plastic problem through recycling\u201d. There\u2019s a significant increase in possibilities for investors who are interested in supporting or benefitting from the war on plastics. With wider interest in responsible business comes increased popularity in green stocks. Udit Garg from Sun Global Investments <a href=\"https:\/\/www.independent.co.uk\/money\/spend-save\/eco-plastic-waste-energy-use-uk-co2-emissions-green-investing-a8398516.html\">says<\/a>: \u201cConsumers are increasingly drawn to businesses who demonstrate environmental and social responsibility and this green trend is also being reflected in their investment choices\u201d.<\/p>\n<figure id=\"attachment_2494\" aria-describedby=\"caption-attachment-2494\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-2494 size-full\" src=\"https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/sites\/4\/2019\/05\/plastics-and-the-evolution-towards-increasing-sustainability-1.jpg\" alt=\"Two people cleaning garbage spread out on grass between bushes\" width=\"800\" height=\"450\"><figcaption id=\"caption-attachment-2494\" class=\"wp-caption-text\">Governments are starting to incentivise innovative companies to come up with new sustainable materials and ways to tackle the existing plastic problem through recycling.<\/figcaption><\/figure>\n<h2>An avalanche of pledges to the UK Plastics Pact<\/h2>\n<p>Since its inception in April 2018, more than 40 major businesses and organisations from across the entire plastics value chain, like Coca-Cola, McCain, Nestle, Unilever, Lidl, Pizza Hut, PepsiCo, and Procter &amp; Gamble, but also NGO\u2019s, local authorities, governments, and citizens, signed the UK Plastics Pact. This initiative is led by the sustainability campaign group WRAP, supported by the Ellen Macarthur Foundation, and joined by government and trade associations.<\/p>\n<figure id=\"attachment_2495\" aria-describedby=\"caption-attachment-2495\" style=\"width: 801px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-2495 size-full\" src=\"https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/sites\/4\/2019\/05\/UK-plastic-pledge-1.jpg\" alt=\"A landfill full of plastic garbage with a sunny sky in the background\" width=\"801\" height=\"534\"><figcaption id=\"caption-attachment-2495\" class=\"wp-caption-text\">Since its inception in April 2018, more than 40 major businesses and organisations from across the entire plastics value chain, like Coca-Cola, McCain, Nestle, Unilever, Lidl, Pizza Hut, PepsiCo, and Procter &amp; Gamble, but also NGO\u2019s, local authorities, governments, and citizens, signed the UK Plastics Pact.<\/figcaption><\/figure>\n<p>WRAP\u2019s CEO, Marcus Gover, <a href=\"http:\/\/www.wrap.org.uk\/content\/uk-businesses-make-world-leading-pact-tackle-plastic-pollution\">says<\/a> that \u201cTogether, we have a once-in-a-lifetime opportunity to rethink and reshape the future of plastic so that we retain its value, and curtail the damage plastic waste wreaks on our planet. This requires a wholescale transformation of the plastics system and can only be achieved by bringing together all links in the chain under a shared commitment to act. That is what makes the UK Plastics Pact unique. It unites everybody, business and organisation with a will to act on plastic pollution. We will never have a better time to act, and together we can\u201d. On the WRAP website, there\u2019s an impressive <a href=\"http:\/\/www.wrap.org.uk\/content\/uk-plastics-pact-member-statements\">list<\/a> of member statements on why they\u2019ve decided to take action.<\/p>\n<h2>Competitive and financial advantages of corporate social responsibility<\/h2>\n<p>Apart from the obvious environmental benefits, doing good is also good for business. Sustainability and corporate responsibility (CR) is often viewed as a business strategy reserved for companies with spare (financial) resources. But CR has many business advantages, such as a positive influence on your company\u2019s image. It\u2019s good marketing and a key differentiator for customers deciding whether they want to do business with you. Furthermore, it helps employees feel like good corporate citizens. As Ryan Scott <a href=\"https:\/\/www.forbes.com\/sites\/causeintegration\/2015\/08\/26\/doing-good-is-good-business-but-can-you-prove-it\/#58101c41a52d\">writes<\/a> for <em>Forbes<\/em>, \u201cStrong CR practices can augment business performance to deliver additional ROI and make up for certain deficiencies in business performance to preserve, protect, and even grow financial ROI. The key is that the benefits of CR will only redound to those companies that are managing these efforts well. It\u2019s not enough to dabble; companies must approach CR seriously if they are to enjoy the significant benefits\u201d.<\/p>\n<p>From a business standpoint, doing good improves competitiveness, attracts talented employees, and delivers more value to customers who care about the environment &#8211; which, arguably, is pretty much all of us. The companies that have made pledges to the UK Plastics Pact will not only contribute to a healthier environment, but also make a lasting impact on their customers, making it more likely that they\u2019ll be rewarded with long-term loyalty \u2013 something every business aspires to.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The war on plastics is heating up, with many countries joining the struggle Sustainability is often wrongly associated with extra costs Business opportunities arising from the war on plastics outweigh the threats An avalanche of pledges to the UK Plastics Pact Competitive and financial advantages of corporate social responsibility The steady stream of disturbing footage [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":51284,"parent":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[2871],"tags":[4447,4998],"article-type":[],"trends":[5495],"class_list":["post-58064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-sustainability","tag-waste","trends-sustainability"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Companies can benefit from supporting sustainability initiatives and profit from the war on plastics - Richard van Hooijdonk Blog<\/title>\n<meta name=\"description\" content=\"Learn how future-focused companies are using sustainability initiatives to their advantage and 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