Concerns are rising across Europe that the coronavirus-induced slump in oil prices could knock demand for recycled plastics but data is still patchy on how the pandemic has affected the amount of trash piling up, the European Union’s environment chief said. As lockdowns around the world caused a drop in demand for fossil fuels, oil prices have plummeted this year, making virgin plastics even cheaper than recycled versions of the material.
That could spell trouble for EU plans to improve recycling rates. The EU generates around 26 million tonnes of plastic waste each year. Only 30% of that is recycled. “We are concerned about potential disruption of the markets for recycled plastics caused by the low prices of crude oil, and also about littering of disposable masks and gloves,” EU Environment Commissioner Virginijus Sinkevicius told Reuters in a written interview.
Plastic recycling plants across Europe have been forced to curb operations during the pandemic, and some say demand has plummeted, as clients have shelved green goals due to the economic downturn. So far, however, companies still appear on track to meet a voluntary goal set by the EU to use 10 million tonnes of recycled plastics in new products by 2025, Sinkevicius said.
Source: Reuters
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