Dow "100% Recyclable Packaging Products by 2035"

Unusually Announced 'Sustainability Goals'

[Asia Economy Reporter Hwang Yoon-joo] Dow, a US global chemical company, will make packaging products used for food packaging and other purposes 100% reusable in the future. Additionally, a certain percentage of recycled plastic will be used in product manufacturing. This strategy is interpreted as an effort to maintain market dominance as the European Union (EU) intensifies plastic regulations amid the growing environmental concerns over plastic waste.

On the 17th (local time), Dow announced three goals: ▲circular economy (plastic recycling), ▲elimination of plastic waste, and ▲reduction of carbon dioxide emissions.

The 'Sustainability Goals' are long-term strategies that Dow has announced every ten years since 1995, encompassing eco-friendly technological innovations and corporate strategies that will lead the chemical industry in the future. In the third announcement, the '2025 Sustainability Goals' released in 2015, Dow presented seven objectives: ▲establishing a sustainability management blueprint reflecting government policies, ▲innovating environmentally and human-friendly products, ▲leading the circular economy, ▲businesses that enhance natural value, ▲efforts and dialogue to ensure safe chemical technologies, ▲employee volunteer activities related to sustainability topics, and ▲maximizing natural resource efficiency.

This recent announcement is significant as it unusually sets new goals after five years and specifically incorporates the 'circular economy' strategy, a recent trend in the global chemical industry.

This year's announcement draws attention for its focus on 'plastic recycling.' Dow's first goal is to make all packaging products recyclable or reusable by 2035.

This is interpreted as a response to the plastic regulations that the EU will enforce starting next year. The EU will ban the use of ten types of single-use plastic products such as spoons, plates, and straws. Additionally, for beverage bottles, only those with caps that allow reuse, even if single-use, will be permitted. Dow's intention is to provide packaging products that comply with these regulations.

The second goal is to eliminate plastic waste by 2030. To achieve this, Dow plans to collect and reuse or recycle one million tons of plastic. Previously, Dow led the establishment of the 'Alliance to End Plastic Waste' and announced plans to raise $1.5 billion by 2023 to develop marine plastic recycling solutions.

Lastly, Dow aims to reduce greenhouse gas emissions by 15% from current levels by 2030. The company plans to integrate carbon pricing into its business plans and invest in renewable energy.

Kang Ho-sung, Vice President of Dow Korea, said, "There is strong demand for plastic recycling products in consumer goods and manufacturing sectors such as P&G and Nike. Dow has formed a plastic recycling task force (TF) three years ago to increase the proportion of sustainable product manufacturing beyond simple social contributions."

This content was produced with the assistance of AI translation services.