· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece in Forbes or enjoy below
🗞️ Driving the news: In light of an OECD study revealing that a mere 9% of global plastic waste is recycled, giants like Unilever, Coca-Cola, and McDonald’s are striving to cut down on plastic use
• Still, if drastic measures aren't taken, the volume of plastic polluting our oceans could triple by 2040
🔭 The context: France leading the way in curbing plastic waste by outlawing single-use plastic packaging for produce
• Nevertheless, the fear of potential cost increases and competitive disadvantage may deter businesses from adopting similar practices, considering them primarily a governmental concern
🌎 Why does it matter for the planet: The plastic crisis has far-reaching impacts on the environment, contributing to pollution, threatening marine life, and exacerbating climate change
• Addressing this crisis involves transitioning to sustainable practices, promoting the circular economy, and reducing plastic dependency
⏭️ What's next: Marketing professionals have a crucial role to play in mitigating the plastic crisis
• This involves re-orienting consumer values towards sustainability, sourcing plastic-free packaging alternatives, shifting to circular supply chains, and accounting fully for the financial implications of packaging transitions
💬 One quote: "We need to see plastic-less packaging as an opportunity for innovation as well as sustainability, not just in the finished product, but across the entire supply chain." (Source not provided) (Al Girardi, Global Vice President & Chief Marketing Officer at GEP)
📈 One stat: Nestle targets to ensure 95% of their packaging is recyclable or reusable by 2025
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