Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

EU Parliament backs clampdown on single-use plastic packaging

Published 24/04/2024, 12:45
© Reuters.

By Kate Abnett

BRUSSELS (Reuters) - The European Parliament approved a proposed law on Wednesday that would ban certain single-use plastic packaging like mini shampoo bottles in hotels and thin plastic bags for groceries, in an attempt to curb the rising tide of packaging waste.

WHY IT'S IMPORTANT

The European Union policy - which still needs final formal approval from EU countries - would introduce sweeping changes to the types of packaging allowed for use by food and drinks companies, restaurants and online retailers.

It would ban in the EU, from 2030, single-use plastic packaging items for fruit and vegetables, condiments in fast food restaurants, thin plastic bags for groceries and mini cosmetics bottles in hotels.

Countries would also be required to ensure that at least 90% of single-use plastic bottles and cans are collected each year from 2029, through deposit return systems, in an attempt to ensure more are recycled rather than put into landfill.

Drinks distributors must ensure 10% of their products are in reusable packaging from 2030 - although wine was exempted. Take-away food outlets will be obliged to give customers the option of bringing their own reusable coffee cups or food containers.

BY THE NUMBERS

The EU's annual packaging waste grew by around 25% from 2009 to 2021, reaching 84 million tonnes. Recycling rates are not keeping up with this growth, and Europe's packaging waste is expected to keep climbing without extra measures.

KEY QUOTES

Some EU lawmakers have complained of heavy lobbying from industry over the rules, while countries including Italy and Finland sought exemptions for their local industries. During EU negotiations on the policy, certain targets for wine, cardboard and single-use paper packaging were removed.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"The biggest loopholes, most of them concern paper-based packaging," said Larissa Copello, a campaigner at non-profit group Zero Waste Europe.

Industry groups said the law left too much wiggle room for member states to decide how they meet the targets - risking a complicated mix of different measures across the EU market.

"We're starting to see too many national diverged measures. And this is not just bad for business, but really for circular economy," said Francesca Stevens, secretary general of packaging industry group Europen.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.