What It Takes To Solve Plastic Pollution
LyondellBasell (LYB) CEO Peter Vanacker shares insights on addressing plastic pollution ahead of UN negotiations in Busan, South Korea. The company emphasizes the importance of plastics in modern life while advocating for sustainable solutions. Europe's plastics recycling rate is approaching 27%, with chemical recycling investments expected to reach 8 billion Euros by 2030. In the US, over 103 investments worth $11+ billion have been announced in recycling since 2017. LYB is establishing its first commercial-scale chemical recycling unit in Germany, capable of processing waste from 1.2 million citizens, and considering a second facility in Houston with double capacity.
LyondellBasell (LYB) CEO Peter Vanacker condivide le sue opinioni su come affrontare l'inquinamento da plastica in vista dei negoziati delle Nazioni Unite a Busan, Corea del Sud. L'azienda sottolinea l'importanza della plastica nella vita moderna, sostenendo al contempo soluzioni sostenibili. Il tasso di riciclo della plastica in Europa si avvicina al 27%, con investimenti nel riciclo chimico previsti per raggiungere 8 miliardi di euro entro il 2030. Negli Stati Uniti, sono stati annunciati oltre 103 investimenti per un valore superiore a 11 miliardi di dollari nel riciclo dal 2017. LYB sta stabilendo la sua prima unità di riciclo chimico su scala commerciale in Germania, in grado di elaborare i rifiuti di 1,2 milioni di cittadini, e sta considerando una seconda struttura a Houston con una capacità doppia.
El CEO de LyondellBasell (LYB), Peter Vanacker, comparte sus ideas sobre cómo abordar la contaminación por plásticos antes de las negociaciones de la ONU en Busan, Corea del Sur. La empresa enfatiza la importancia de los plásticos en la vida moderna mientras aboga por soluciones sostenibles. La tasa de reciclaje de plásticos en Europa se acerca al 27%, con inversiones en reciclaje químico que se espera alcancen 8 mil millones de euros para 2030. En EE. UU., se han anunciado más de 103 inversiones por un valor de más de 11 mil millones de dólares en reciclaje desde 2017. LYB está estableciendo su primera unidad de reciclaje químico a escala comercial en Alemania, capaz de procesar residuos de 1.2 millones de ciudadanos, y está considerando una segunda instalación en Houston con una capacidad doble.
리온델바젤 (LYB)의 CEO인 피터 바나커(Peter Vanacker)는 한국 부산에서 열릴 유엔 회의에 앞서 플라스틱 오염을 해결하기 위한 통찰력을 공유합니다. 회사는 현대 생활에서 플라스틱의 중요성을 강조하면서 지속 가능한 솔루션을 옹호합니다. 유럽의 플라스틱 재활용율은 27%에 접근하고 있으며, 화학적 재활용에 대한 투자액은 2030년까지 80억 유로에 달할 것으로 예상됩니다. 미국에서는 2017년 이후로 110억 달러 이상의 103건의 재활용 투자 발표가 있었습니다. LYB는 독일에 120만 시민의 폐기물을 처리할 수 있는 상업적 규모의 화학 재활용 시설을 설립하고 있으며, 휴스턴에는 두 배의 용량을 가진 두 번째 시설을 고려하고 있습니다.
Le PDG de LyondellBasell (LYB), Peter Vanacker, partage ses réflexions sur la manière d'aborder la pollution plastique avant les négociations de l'ONU à Busan, en Corée du Sud. L'entreprise souligne l'importance des plastiques dans la vie moderne tout en plaidant pour des solutions durables. Le taux de recyclage des plastiques en Europe approche 27 %, avec des investissements dans le recyclage chimique qui devraient atteindre 8 milliards d'euros d'ici 2030. Aux États-Unis, plus de 103 investissements d'une valeur de plus de 11 milliards de dollars ont été annonçés dans le recyclage depuis 2017. LYB établit sa première unité de recyclage chimique à l'échelle commerciale en Allemagne, capable de traiter les déchets de 1,2 million de citoyens, et envisage une deuxième installation à Houston avec une capacité doublée.
Der CEO von LyondellBasell (LYB), Peter Vanacker, teilt Einblicke, wie man die Plastikverschmutzung im Vorfeld der UN-Verhandlungen in Busan, Südkorea, angehen kann. Das Unternehmen betont die Bedeutung von Plastik im modernen Leben und setzt sich gleichzeitig für nachhaltige Lösungen ein. Die Recyclingquote für Plastik in Europa nähert sich 27 %, wobei Investitionen in die chemische Wiederverwertung bis 2030 voraussichtlich 8 Milliarden Euro erreichen werden. In den USA wurden seit 2017 über 103 Investitionen im Wert von mehr als 11 Milliarden Dollar im Recycling angekündigt. LYB errichtet seine erste chemische Recyclinganlage im kommerziellen Maßstab in Deutschland, die in der Lage ist, Abfälle von 1,2 Millionen Bürgern zu verarbeiten, und prüft eine zweite Anlage in Houston mit doppelter Kapazität.
- Building first commercial-scale chemical recycling unit in Germany with significant waste processing capacity
- Planning second recycling unit in Houston with double capacity
- Expanding into recycled and renewable-based raw materials production
- None.
Insights
This CEO opinion piece outlines key strategies for addressing plastic pollution, but lacks immediate market-moving implications. The discussed chemical recycling facility in Germany and potential Houston expansion represent ongoing initiatives rather than new announcements. The focus on upcoming UN negotiations and policy recommendations, while important for long-term industry direction, doesn't present actionable near-term catalysts.
The company's gradual transition toward recycled and renewable materials aligns with industry trends but requires substantial capital investment and time to materialize. The emphasis on mass balance accounting and opposition to production caps signals LyondellBasell's strategic positioning in regulatory discussions, though actual policy outcomes remain uncertain.
The
NORTHAMPTON, MA / ACCESSWIRE / October 29, 2024 / LyondellBasell
By Peter Vanacker, CEO, LyondellBasell (NYSE:LYB)
This CEO opinion piece was originally published by Sustainable Plastics: https://www.sustainableplastics.com/news/lyondellbasell-ceo-weighs-what-it-takes-solve-plastic-pollution
Solving the challenge of plastic pollution requires holistic approaches focused on creating value across the environment, society and the economy. This is a critical message LYB will share in the next negotiating round toward a global agreement on plastic pollution this November. Hosted by the U.N. Environmental Programme, the negotiations will occur in Busan, South Korea, Nov. 25-Dec. 1.
Representing one of the world's largest petrochemical companies, my team looks forward to sharing with governments how the business of chemistry enables modern living while advancing a sustainable future.
Plastics play an important role in shaping life as we know it. From packaging and transportation to medical devices and electronics, their versatility and durability have revolutionized countless industries.
By enabling lighter, more material-efficient products, and facilitating the incorporation of recycled materials, plastics are essential to enabling a sustainable lifestyle. For example, plastics are the building blocks for packaging that prevents food waste and its associated greenhouse gas (GHG) emissions ― already estimated at
It is no surprise these properties and benefits continue to drive high demand for plastics. Demand for, and adoption of, sustainable solutions is also on the rise, resulting in expanded opportunities for recycled, renewable, bio-based and lower-carbon footprint plastics.
Most important, numerous regions have already demonstrated the feasibility of increasing plastics recycling rates.
In Europe, the plastics recycling rate is nearing
These advancements prove that with the right infrastructure and policies, we can address the environmental challenges associated with plastics, while meeting the ongoing demand for this valuable material.
Contributing to this positive momentum, LYB is gradually introducing more recycled and renewable-based raw materials into its production processes. This switch is helping us advance the incremental shift away from fossil feedstock, prevent plastic leakage and meet demand for circular products.
Recently, we laid the foundation of our first, commercial-scale chemical recycling unit in Germany and are evaluating an investment in a second unit, with twice the capacity, in Houston. For context, our German asset will have the potential to convert the hard-to-recycle plastic waste of 1.2 million German citizens each year into valuable raw materials to make new products.
Yet, as an industry and society, we are still in the early stages of this transition. We must accelerate progress to bridge the supply gap for circular and lower carbon solutions. The next negotiating round toward a U.N. plastics agreement provides significant opportunities for LYB, industry and governments to make progress in the circularity space.
Here are several topline policy considerations to help advance negotiations; it is crucial as many countries as possible embrace them. I encourage all involved in the negotiations to put their differences aside and reach an agreement creating a strong starting point to help end plastic pollution.
Shifting global plastics and chemicals production toward greater circularity requires specific policy drivers. Those include: extended producer responsibility, recycled-content and recycling-rate mandates, product-design standards for circularity, development of waste management infrastructure and consumer education.
Chemical recycling is also essential to plastics circularity. Complementary to other recycling methods, it helps reclaim valuable molecules from post-use plastics mechanical recycling cannot process. This manufacturing technology needs to count toward recycled-content targets, leveraging mass balance accounting, a proven, fully auditable tool that provides transparency and traceability of recycled content across supply chains. Notably, mass balance has long been in use among coffee and wood producers.
Conversely, mandatory production caps or bans would limit availability of plastics for vital, everyday applications. Developing nations, especially those reliant on products serving public infrastructure needs at affordable prices, could suffer most from such short-sighted policies.
Let's choose the best materials based on their applications, environmental impacts, markets, geographies and infrastructure capabilities. Proposed limits on plastic use should undergo robust scientific and economic analysis, considering regional implications of using alternative materials over a product's lifecycle.
As we evaluate various solutions, I call on leaders involved in U.N. negotiations to harness our company and industry expertise to reach an ambitious yet feasible agreement on plastic pollution. Through effective collaboration, significant opportunities abound to create an economically viable, global market for circular products while generating societal value.
*Source: "And if food goes to the landfill and rots, it produces methane-a greenhouse gas even more potent than carbon dioxide. About
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SOURCE: LyondellBasell
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FAQ
What is LyondellBasell's (LYB) new recycling facility capacity in Germany?
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