The business case for taking action against plastic pollution goes beyond reputational risk. In this article, we compiled the four major reasons why every company should start taking plastic action today.
Our world is at an inflection point. We need to take action against plastic pollution to protect our natural ecosystems.
Did you know that we identified the problem of plastic pollution more than 30 years ago? We still have a long way to go, and we should not delay our journey. Because if we don’t take deliberate action against plastic pollution now, the situation will get worse.
Today, companies with a considerable plastic footprint struggle to find solutions: profit margins are tight, costs are high, and opportunities for differentiation seem out of reach.
At the same time, pressure is mounting from all sides to increase corporate commitment to environmental protection. 91% of consumers state that they are concerned about plastic waste. Policymakers pursue motions for extended producer responsibility (EPR). Investors require more transparency and alignment with ESG criteria.
But should action against plastic pollution really be an obligation to respond to market trends? Or is there actually a differentiation opportunity that can be seized?
The Return on Action Against Plastic Pollution
The business case for action against plastic pollution goes beyond risk mitigation. We compiled four major factors to help you succeed.
1. Drive Loyalty and Growth
Consumers increasingly push their favorite brands for plastic action. According to a survey in 2019, respondents in the United States ranked plastic pollution as a bigger problem than climate change. Here’s why you should care: it’s is becoming increasingly apparent that above-average recycling-related practices are driving increased consumer conversions. Demonstrate thought leadership through transparency and accountability. You will be rewarded with increased loyalty and increased market share.
2. Access New and Better Funding Opportunities
The screening of ESG criteria is widespread in today’s responsible investment strategies, and the need for plastic accounting is rapidly gaining ground. This novel form of environmental accounting helps inform investors about potential investment risks and opportunities related to plastics. In public markets and private markets, companies preparing for the transition to a circular economy are rewarded by stakeholders and investors. Those leading the transition will likely be able to tap into the growing enthusiasm of ESG investment.
3. Align Your Strategy With Science
In the past decade, the study of plastic pollution has grown faster than any other United Nations’ Sustainable Development Goals (SDGs). The research findings are further diversified and translated into practical recommendations. Science-based recommendations are the driving forces of informed transformative plastic action. Creating a science-based corporate stewardship strategy can advance your business goals while doing your part for the environment.
4. Make the Most Out of Governmental Incentives
As scientific consensus increases, so does the willingness of policymakers to enable positive change. In the meantime, regulators evaluate the introduction of compliance schemes such as extended producer responsibility (EPR). Meanwhile, myriad businesses call for a UN Treaty on Plastic Pollution and COP 26 on the horizon. The next few months will bring a lot of debate about the plastic industry. Why does it matter? Understanding the trajectory of future policy will set you ahead of the pack.
Are You Ready to Start Your Journey?
The upside that accompanies intelligent plastic action is obvious. Yet, many companies struggle to start their journey.
At Ampliphi, we believe that the true barrier to effective plastic action is the lack of accurate and transparent information. There will never be a silver bullet solution for plastic pollution. However, one of the most promising solutions is simple: create transparency and demonstrate thought leadership. Contact us today to get started.