Financial Times: The Circular Economy in Action

1 March 2024

According to the UN, a third of the 400 million tonnes of plastic produced globally per year is used in packaging – for household and consumer goods, to keep food and drinks fresh, and for our medicines and health system. Plastic is inexpensive, quick to manufacture, durable, and importantly, recyclable. However, in Australia, just 18 percent of plastic waste is recovered for recycling.*

Recycling plastic packaging is crucial to creating a circular economy for Australia. The new Pact-operated Circular Plastics Australia (PE) recycling facility in Laverton VIC is part of the solution with its capacity to process 20,000 tonnes of rigid plastic containers from household recycling bins, the equivalent of half a billion milk bottles every year.

A new video produced by the Financial Times in London, explores how an industry and financial partnership has built this world-class, mixed plastics recycling plant which is encouraging a local circular economy and contributing to the betterment of our environment.

And with the Australian Government planning to implement compulsory design standards and minimum recycled content quotas for all packaging, Pact’s plastic recycling and packaging manufacturing capabilities means the company will play a central role in advancing Australia’s circular economy by helping customers transition to more sustainable packaging options.

*Australia’s 2025 National Packaging Targets – APCO

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