Breaking the Plastic Habit: A blueprint for entrepreneurs looking to make a change
Alright, buckle up for some science (and how you can make money off of it)
A new study led by Professor André Bardow from ETH Zürich has found that it is possible to make the plastics industry sustainable through a combination of recycling and the use of CO2 from the air and biomass. The study investigated the complete value chains of the 14 most common types of plastics, accounting for 90% of plastic products manufactured worldwide. The researchers found that circular plastics are feasible within planetary boundaries, but it would require at least 74% of the plastic to be recycled. The recycling processes would also have to become as efficient as other chemical processes already are today.
What Does This Mean for Sustainability?
The plastics industry must prioritize recycling, as it is essential to achieving sustainable production. This requires not only increasing the recycling rate to at least 74% worldwide, but also improving recycling processes.
Companies must begin to see plastic as a high-quality material and assign it a different value, rather than viewing it as a cheap commodity. This would encourage consumers to treat plastic products with greater care, and encourage manufacturers to consider the entire lifecycle of their products, including recycling and disposal.
The study highlights the need for companies to align their products with the circular economy and work more closely with recyclers. This would require a wider understanding of the responsibility they hold, and product stewardship should encompass the entire life cycle.
Ok, so how can you make money?
The study's findings present opportunities for entrepreneurs in the climate space to build sustainable businesses.
There is a need for businesses that can improve the recycling processes for plastics. This could include companies that develop new recycling technologies or improve the efficiency of existing ones.
There is a need for businesses that can help shift consumer behavior and perceptions around plastic. This could include companies that offer education and awareness campaigns, or those that create innovative and sustainable products that replace traditional plastic products.
There is an opportunity for businesses that can facilitate the transition to a circular economy. This could include companies that work with manufacturers to improve the design and recyclability of their products, or those that provide a platform for the recycling industry to connect and collaborate.
3 Business Idea's for an #ecopreneur
Plastic Recycling Start-up
This type of business would focus on increasing the recycling rate of plastics, which is a key factor in achieving sustainable production methods. The start-up could target businesses that generate large amounts of plastic waste, such as manufacturers or packaging companies, and offer them a recycling solution that meets their needs. This could include efficient and cost-effective recycling processes that help them meet their sustainability goals while reducing waste disposal costs.
Carbon Capture and Utilisation (CCU) Solutions Provider
The study highlights the potential for sourcing carbon from captured CO2 and biomass, and this presents an opportunity for businesses that can provide CCU solutions to the plastics industry. Such a business could offer innovative carbon capture and storage technology, as well as biomass sourcing solutions. The target market for this type of business would be plastics manufacturers looking to reduce their carbon footprint and meet their sustainability targets.
Circular Economy Consultancy
As the study emphasizes the need to align plastic products with the circular economy, there is a growing demand for consultancy services that can help businesses design and implement sustainable processes. A circular economy consultancy could offer advice and solutions for sustainable product design, supply chain optimization, and waste reduction strategies. This type of business could target a range of industries, including plastics manufacturing, consumer goods, and packaging.
Basically, the study's findings show that sustainable production in the plastics industry is achievable, but it requires a significant increase in recycling rates and improvements in recycling processes. For entrepreneurs in the climate space, this presents an opportunity to build sustainable businesses that can help drive the transition to a circular economy and tackle the issue of plastic waste.
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