Since the 1950s, the rate of plastic production has grown faster than that of any other material. Plastic packaging, the main cause for the increase, accounted for 52% of discarded plastics in 2015. If the current trend continues, there will be more plastic than fish in the sea by 2050. As a response to public outcry, companies have committed to increase recycling rates, reduce plastic use and invest in recycling technology.
Sustainability is on the top of everyone’s mind and on the tip of everyone’s tongue. Being a sustainable company is no longer optional in this day and age. Policies and corporate standards are pushing companies to pick up on more sustainable practices in order to reduce their impact on the environment and have a better sustainable footprint.
More than ever, today’s consumers are driving change and disruption in the packaging industry. As sustainability becomes the number one moral imperative of the 21st century, it will also become an essential ingredient for long-term success. Done well, sustainability effectuates transformative change that spurs innovation, delivers bottom-line value, and presents an opportunity for a competitive edge.