As global plastic regulations tighten and become increasingly fragmented, businesses face rising compliance costs and complexity. This report explores the evolving regulatory landscape and the UN Global Plastics Treaty’s potential to drive global harmonization. It highlights how forward-thinking companies can stay ahead by leveraging technology and data-driven solutions to streamline reporting, reduce risk, and unlock new opportunities for circularity and sustainability.
Key Highlights # 1 – Fragmented regulatory landscape
Decoding the convoluted voluntary and mandatory regulatory landscape.
A sustainability manager for an international corporate must balance several different voluntary and mandatory targets and standards, some with complementary, and others with competing requirements. The outcome is a convoluted web of definitions and targets that must also align with internal CSR objectives.
Data systems that harmonize conflicting definitions and taxonomies, while reducing complexity, can help mitigate some of these challenges. However, with the global trends pointing towards plastic regulation, reporting requirements are expected to multiply. A global treaty that establishes standardized definitions, targets and frameworks can enhance efficiency, provide regulatory stability and ultimately support sustainability efforts.
Key highlight #2 – The expanding map of global EPR
There are dozens of EPR schemes globally and this number is projected to rise. Applying Enterprise Resource Management systems can help corporates manage their reporting, increasing efficiency and leading to cost savings and sustainability gains.
EPR schemes have proliferated across the globe, with proposed or implemented programs in over 90 countries, states and provinces. A sustainability manager or team may be tasked with understanding, translating and meeting reporting and materiality requirements for each scheme, facing a tidal wave of regulations. EPR and other plastic regulations can be a financial and administrative burden for a business, representing an estimated 0.5 to 1 percent of final product revenue and potentially amounting to millions for multinational corporations.
Webinar recap
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