The British Plastics Federation and WRAP have held a joint investors summit for growth within the UK’s plastics recycling and reprocessing infrastructure.
Aimed at senior figures within the investment community, the event was attended by 70 people, including representatives from numerous leading investment companies, and featured presentations from WRAP, the BPF, PlasticsEurope, Berry Global, and Innovate UK.
The keynote speaker and chair of the event was John Gummer, The Rt Hon. Lord Deben, Chairman of Sancroft and member of the Food and Drink Sector Council.
He introduced the event by explaining the environmental impact of poorly managed plastic waste and the extent to which the UK needs investment in order to develop an infrastructure capable of sorting and reprocessing its plastic waste.
Representatives from WRAP and the BPF then explained the current opportunities and challenges for plastics recycling within the UK, framing it within the context of wider ongoing developments and planned government initiatives.
Peter Maddox, Director of WRAP UK, said: “Two thirds of plastic packaging placed on the market in the UK is represented by the UK Plastics Pact members, all of whom are committed to making their plastic packaging recyclable, significantly increasing the recycling of plastic, and achieving an average of 30 per cent recycled content.”
“The work that is happening in the UK is leading a wave of change globally. With Government policy also coming down the track to incentivise recyclability and recycling, the writing is on the wall. The time to invest in UK recycling is now.”
Philip Law, BPF Director General, said: “It was encouraging to see so many big hitters in one room eager to understand the many opportunities for investing in plastics recycling and waste management.”
“There is certainly understandable interest in this space and the upbeat tone of the evening suggests that the future of the UK plastics recycling sector is bright indeed.”