Why it is time to focus on plastic waste recycling and renewables

economictimes.indiatimes.com:

By By Aditya Pareek
Business Development Head, Race Eco Chain Ltd

The growing demand for resources and the increasing challenges of waste management have put the recycling industry in the spotlight. As the world adopts principles of circularity and sustainability, the demand for recycling sector is to transform from an unorganized sector into an organized with efficient pillar of the circular economy is growing.
ESG & EPR Regulations India's plastic packaging waste supply chain is largely unorganized, with 70% of it lacking formal structure. The nation generates an estimated 26,000 tonnes of plastic waste daily. Government regulations, such as Extended Producer Responsibility (EPR) for Producers, Importers, and Brand Owners (PIBOs), will require the use of at least 30% recycled materials in packaging by 2025. This push for sustainability has significantly shifted the industry, driving unprecedented demand for recycled materials. Packaging waste in India is projected to increase by 30% by 2030. Additionally, SEBI's Business Responsibility and Sustainability Reporting (BRSR) guidelines mandate that companies ensure their suppliers comply with ESG (Environmental, Social, and Governance) standards, starting with Fortune 500 companies and eventually extending to all organizations.

The Bottle-to-Bottle Market: A Promising Frontier The bottle-to-bottle manufacturing is expected to see remarkable growth, with an estimated demand of 3.5 lakh Metric Tonnes annually. Whereas current capacity is only 50,000 Metric Tonnes