Chemical giant Dow has updated its “Stop the Waste” goal to “Transform the Waste,” planning to produce 3 million tons of circular, renewable plastics annually by 2030. This is three times his previous goal.
According to a press release, Dow is “committed to accelerating the circular ecosystem by transforming waste and alternative raw materials” with its latest initiative.
The company plans to build an “industrial ecosystem for collecting, reusing or recycling waste” and expand its portfolio to meet rapidly growing demand.
Dow Chairman and CEO Jim Fitterling said in a press release: “Through investments in critical technology, infrastructure and strategic collaborations, Dow Plastics is expanding its goal of stopping waste, reflecting his franchise’s transformational and circular economy enabling leadership. “
Not long ago, Dow announced several cyclical and mechanical offtake deals and projects it said would help it reach its new goals. They include a project to build a chemical recycling facility by Mura Technology. Investment to build the largest single hybrid recycling site in France, managed by Valoregen. Collaboration with Nexus Circular in Dallas. Mechanical recycling cooperation with Boomera LAR in Brazil. Investment in Mr. Green Africa to co-develop more fair, traceable and high-quality PCR. Memorandum of Understanding with Lucro Plastecycle to develop and launch recycled PE film in India.
Dow also formed a business platform within its Packaging and Specialty Plastics business segment called Circular and Renewable Solutions to focus on circular goals.
“We will increase the value of waste and enable the growth of new industrial ecosystems, which will enable Dow to expand its ability to create circular, low-carbon solutions,” said Fittering. says.
Dow plans to report on progress in its annual Environmental, Social and Governance Report.
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