Plastic, dubbed a miracle invention due to its durability and versatility, has made our lives substantially easier. However, 60 years after its invention, managing plastic waste has become one of the planet’s biggest problems.
The statistics are alarming, with mass production and consumption of plastic on the rise since 19501. According to a report published by WWF-Malaysia, post-consumer plastic waste generation in Malaysia is estimated to be more than 1 million tonnes (1,070,064 tonnes, to be precise)2. Plastics can in fact be reused and recycled into usable products. However, 81% of the material value of plastics is lost due to failure to recover the material.
This results in USD 1.1 billion of potential material value lost to Malaysia’s economy, as reported in a study by the World Bank3. Just like any other packaging materials, plastic requires proper segregation, collection, material recovery, treatment and final disposals. Currently, the largest segment of demand growth for plastic production is predominantly single-use plastic4. Encouragingly, there have been global movements to advocate for a transition from a linear plastic system to a circular one.
A circular economy for plastic builds on three key principles – the elimination of waste and pollution, circulation of materials at the highest value for as long as possible, and regeneration of resources5. A circular economy envisions resources to be responsibly managed, recovered and reused to their fullest potential. It provides us the opportunity to prosper through greater resiliency, while significantly reducing greenhouse gas emissions, waste, and pollution.
Source: Malaysiakini
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