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Plastic-Free and New Era of Business, The Post-Plastic Economy

June 8, 2024

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Plastic-Free and New Era of Business, The Post-Plastic Economy

A small little thing, once celebrated as an engineering masterpiece, plastic now seems as a poisonous threat. The future of businesses is at stake as plastic pollution and production continue to rise, with financial risks substantial by 2040. A plastic-free revolution is on the way, and companies must adapt to survive.

Written by Mikha Suryanto

Photo captured by Krizjohn Rosales 

Produced by 365c

A small little thing, once celebrated as an engineering masterpiece, plastic now seens as a poisonous threat.

This insignificant matter may have a significant impact on both our environment sustainability and financial stability. Starting from the processing to the waste it produces, plastic has generated a plethora of problems in the consumer goods industry.  A global change is required, and the fate of businesses is at stake.

PlasticFree and Fashion Snoops published "The Post-Plastic Economy", presents a bleak perspective of what the future holds [1].

It says, in the coming decade, our connection to plastic into is going to "unrecognizable". 

Even though recycling is some times frequently described as a solution to plastic waste, the facts sometimes lies to this assumption. The author of "The Post-Plastic Economy" claims that recycling is a "false sloution" as plastic pollution and production are still on the rise. The financial risks are substantial as well. Businesses who do not change will confront a "$100 billion annual financial risk" by 2040, which is 25% of low-margin companies' turnover.

The option is clear, business has to lead the post-plastic revolution or just fade into extinction. 

By embracing natural alternatives, incorporating reuse, and right-to-repair models, the report suggests fifteen design strategies for brands to reap the benefits of plastic. Bioplastics and recyclability product are some of these strategies. The report also stated, It is essential for companies to invest in a comprehensive traceability system to monitor plastics regulations around the world and to ensure that all claims are supported by data verified by third parties. This will help them stay ahead of the competition in a ever-changing market.

It requires more than just communicating with the business in general, though. Everyone has a stake in the plastic-free revolution. Both companies and consumers to make changes.

We must immediately begin to gradually get ourselves off of plastic because of its devastating consequences. Destiny is in our hands, and we have a clear choice. We can either keep destroying the environment or we may choose to change things.

One thing is certain,  a plastic-free revolution is on the way.

Those companies who don't change with the times will eventually go out of business, while those who jump at the chance to progress will prosper. Be the first in the post-plastic era or perish with the dinosaurs.

Insights from PlasticFree and Fashion Snoops's research "The Post-Plastic Economy" served as the basis for this imaginative piece.

References

[1] Bailey, E., Guarascio, J., Lewis, J., Silva , N., & Gentner, R. (n.d.). The post-plastic economy: The New Frontier for a thriving tomorrow. PlasticFree. 

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