According to OECD figures, only about 9% of the global volume of plastics was recycled in 2019, and 22% was mismanaged.
- Nov 17, 2022, 3:00 PM CSTRecycled packaging could eventually supplant virgin plastic production.Recent studies offer sustainable alternatives to help break down existing waste.As an increasing number of countries ban single-use plastics, waste remains a significant environmental issue – although a variety of initiatives promise to make emerging markets the focus of the global struggle against plastic waste.
According to a May 2022 report from the research firm BloombergNEF, an extra $759bn in investment could make petrochemical production net zero by 2050. This, in turn, would reduce the 2% of global emissions that come from the production of high-value chemicals, a key component in the manufacturing of plastics and other goods.
In addition to corporate action, governments have begun to focus on international efforts to limit plastic production and pollution. At the March 2022 UN Environment Assembly meeting in Nairobi, Kenya, 175 countries pledged to negotiate a legally binding agreement limiting the proliferation of plastics and focusing on recycling, sustainable packaging and limiting virgin plastics production by as early as 2024.
Humble recently raised $750,000 in an oversubscribed seed round led by Seedstars International Ventures, and the start-up plans to use the funds to hire staff and expand its partner network.
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