Meed | A new circular plastics economy

A new circular plastics economy

4 July 2023

Commentary
Colin Foreman
Editor

Plastic pollution is a global concern, and the Middle East, as a significant producer of plastic goods and petrochemical derivatives, holds the key to addressing this pressing issue.

The consequences of plastic pollution are vividly captured in distressing images of plastic objects adrift in our oceans, wildlife ensnared in plastic debris and colossal mounds of plastic waste in landfills.

The Gulf states are aware of this environmental impact and have taken steps towards a circular plastics economy that promotes recycling, waste reduction and sustainable consumption of plastic products.

With only 10 per cent of plastics recycled today, further steps are needed. To fully realise a circular plastics economy, broad efforts are required at every stage of the value chain.

Upstream solutions involve reducing plastic consumption, exploring alternatives and reimagining supply chains.

Downstream solutions necessitate effective waste collection, value extraction from collected materials and ramping up recycling efforts.

To fully realise a circular plastics economy, broad efforts are required at every stage of the value chain

The role of governments and regulatory authorities is pivotal in fostering the growth of the plastics industry while ensuring sustainable practices. By enacting policies such as bans and taxes on single-use plastics, establishing extended producer responsibility programmes, and investing in collection and recycling infrastructure, they can enable a circular plastics economy to thrive.

However, they need the buy-in of the private sector and consumers to transform behaviours. For the private sector, the opportunity is a significant one, with the region expected to need up to $40bn of investment over the next two decades to develop its recycling infrastructure. For consumers, the key will be education.

If the region can seize this opportunity, the Middle East could become a leader in the circular plastics economy.

MEED Business Review's July 2023 cover story includes: