From Davos: Terracycle Accelerates Circular Economy With Reusable Packaging
This past fall, the United Nations’ Intergovernmental Panel on Climate Change (IPCC) released a report on how the world could limit global warming to below 1.5 degrees Celsius above pre-industrial levels – but only after undergoing “staggering transformation.” For companies, this means boldly eschewing “business as usual.” At the World Economic Forum in Davos last week, one company has announced a transformational innovation and has enlisted the help of some of the world’s largest companies to bring it to life.
Last week Terracycle, a U.S.-based company known for recycling hard-to-recycle products, launched “a new effort that aims to change the world’s reliance on single use packaging and disposable waste.” The innovation, called LOOP, is a “system of high-quality packaging that can be returned and refilled again and again” – effectively eliminating the need for one-time-use packaging. The model extends the life of packaging by instituting durable packaging that once used, is dropped in a specially-designed tote for pickup at home, then is cleaned and transformed into new packaging to repeat the cycle.
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