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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    EU sets recycling, reuse targets to cut packaging waste

    Published by Jessica Weisman-Pitts

    Posted on November 30, 2022

    Featured image for article about Top Stories

    By Philip Blenkinsop

    BRUSSELS (Reuters) – The European Commission proposed on Wednesday new rules to reduce packaging waste through increased recycled content in plastic drinks bottles and targets for reuse of take-way cups and materials used for online deliveries.

    Under the proposal, all 27 EU members will be required to reduce packaging waste per capita by 5% by 2030 and 15% by 2040 compared with 2018 levels. Packaging now accounts for 36% of municipal solid waste.

    The Commission said packaging waste, notably plastic, would continue to rise if no action were taken, increasing emissions of greenhouse gases and so jeopardising the EU’s target of net zero emissions by 2050.

    The proposal, which could still be changed, retains recycling targets of 65% by 2025 and 70% by 2030 from the directive’s last update in 2018, with specific targets per packaging material.

    All packaging will need by 2030 to be designed so that it can be recycled and manufacturers should ensure it is in reality recycled “at scale” by 2035.

    The proposal, which will need approval by the European Parliament and EU governments to become law, lays down specific rules for plastics, for which an EU official said recycling was not at the same level as paper, metals and glass.

    The planned legislation proposes minimum targets for recycled content in plastic packaging, such as 30% for drinks bottles by 2030 and 65% by 2040.

    Certain plastic packaging, such as tea bags, coffee pods, very light plastic bags and sticky labels for fruit and vegetables, will need to be compostable.

    The Commission is also proposing the phase-out of single-use plastic items such as the bags and nets used for food in shops and cafes and the mini shampoo bottles found in hotels.

    EU members will also be required to have deposit return systems in place for plastic bottles and cans.

    The proposal also lays out minimum targets for reuse of packaging, such as 20% of take-away cups by 2030 and 80% by 2040 and respectively 10% and 50% for packaging used to deliver online purchases.

    (Reporting by Philip Blenkinsop; Editing by Alexandra Hudson)

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