While the issue of plastic pollution has become a major emerging risk and ecological concern for the industry, it also presents a significant opportunity. IVL has been active in PET recycling and is a leading recycler in Europe, North America and Asia. It has been continuously exploring the opportunities to increase recycled product offerings, expanding the business. “PET – Recycling – The renaissance to reduce PET plastic waste going to nature, and preserve natural resources.”
We have reacted to the challenge on resource management issue and on the requirement for sustainable packaging from our world-class customers by establishing the recycling business
In 2018, the company engaged with legislators directly and through trade associations to revitalize the business for PET resin, the polymer of choice for beverage bottles globally. Having worked with the Ellen MacArthur Foundation from very early on, IVL is involved in the New Plastics Economy Global Commitment in collaboration with the United Nations Environment Program towards a vision of a circular economy for sustainable plastics.
PET will continue in its tradition at the forefront of the recycling of plastic waste, bearing the standard for circular processing business models. Over the past two years, Indorama Ventures has also undertaken two chemical recycling initiatives with selected partners. Chemical recycling allows for the “upcycling” of lower-quality post-consumer PET to virgin-grade resin. Through a collaboration in Europe, in 2019 it is envisaged that IVL will take reclaimed monomers generated by the innovative company IONIQA to combine with traditional feedstock to make virgin-grade PET with recycle content. This will exhibit the circularity of PET by generating new from post-consumer waste. A joint venture with Loop Industries will also break down PET polymer from post-consumer waste and make new 100% virgin-grade PET from waste.
Apart of our recycling business, we have also initiated many projects concerning to the environment issues. We have run the educational projects on waste segregation, motivation on upcycling and the raise of awareness in 3R.