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ESG Trends in the Green Packaging Industry

Green packaging or eco-friendly packaging or sustainable packaging is anything that reduces the environmental impact. When it comes to the impact of green packaging on the environment and society, it has a very high negative impact both in terms of environmental and social factors. Fast-moving consumer goods (FMCG) companies, packaging manufacturers and retailers have taken a giant stride towards a circular economy with investments in green packaging. Consumers’ preferences for sustainable packaging and the repercussions of plastics on the environment have prompted governing bodies to look beyond plastic bans. Spain introduced Plastic Tax (a special tax on non-reusable plastic packaging) by Law 7/2022 to promote a circular economy and manage waste and contaminated soil; the law came into force on January 1, 2023. In August 2021, the Whitehouse introduced REDUCE (Rewarding Efforts to Decrease Unrecycled Contaminants in Ecosystems) Act to encourage recycling and impose a USD 0.10 per po
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Unlocking Opportunities in the Recycled Plastic Industry

Recycling plastic industry players are focusing on sustainability and connecting brands with environmentally friendly plastic to combat carbon emissions and minimize waste. Amidst the global push to eradicate pollution, packaging has garnered huge headlines. UNEP notes that global plastic production is pegged at 400 million tons per year. Besides, merely 9% of this is recycled and 12% is incinerated. Accordingly, in March 2022, the U.N. member states endorsed a resolution to beat plastic pollution and create an international legally binding agreement by 2024. Sustainable and affordable options for recycled products have gained ground, furthering the need for ESG frameworks globally. Public policy could be instrumental in overcoming plastic packaging pollution. The ubiquitous nature of plastic has put pressure on regulators and investors to find solutions for pollution across sectors, including retail, manufacturing, industrial, and electronics. According to Greenpeace, supermarkets in
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