Borealis leading the way in promoting the Circular Economy for Polyolefins
Photo: Alfred Stern, Borealis Executive Vice President Polyolefins and Innovation and Technology.
As part of its Circular Economy Package, the European Commission has proposed challenging targets for the plastics industry. By 2025, 55% of plastic packaging waste must be prepared for re-use and recycling. The industry recognises that a business as usual approach will not meet this target. Fresh approaches and close collaboration across the value chain are required.
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has taken two important steps in response to meet these challenges. Firstly, by working with the plastics industry’s trade association, Borealis participated in the creation and launch of the Polyolefin Circular Economy Platform (PCEP), which was launched in October 2016 by three plastics industry organisations: PlasticsEurope, European Plastic Converters and European Plastic Recyclers.
For the first time, the platform will create a multi-stakeholder group that will seek to identify the barriers and opportunities to increase Europe’s recycling and work towards ensuring the supply of high quality recycled plastics for the European market. The aim is to increase the resource efficiency of plastics, ensure their recovery and prevent any waste leaking into the marine environment. The PCEP will work to a five to ten year time horizon, to deliver effective, science-based solutions.
To support the PCEP’s work, Borealis has become the first prime plastics producer to join the New Plastics Economy initiative. This project is led by the Ellen MacArthur Foundation and brings together a broad group of stakeholders, including companies, cities, philanthropists, policymakers, academics, students, NGOs and citizens.
Over the next three years, the initiative intends to redesign the future of plastics, starting with packaging. It will drive collaboration across the value chain, guide innovation to create effective markets, mobilise ‘moonshot’ innovations, develop robust evidence to inform improvement and engage with stakeholders.
“Borealis is committed to discovering and realising the opportunities presented by the circular economy, so we are pleased to be involved in both the PCEP and the New Plastics Economy,” says Alfred Stern, Borealis Executive Vice President Polyolefins and Innovation and Technology. “These initiatives will play an important role in bringing all stakeholders to work together to overcome the barriers to implementing a circular economy and achieve the European Commission’s 2025 target.”
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. Borealis generated EUR 7.7 billion in sales revenue and a net profit of EUR 988 million in 2015. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
For more information visit:
www.borealisgroup.com
