Business360 analysis shows CPG companies have made limited progress reducing plastic and estimates most companies will fail to meet published targets

NEW YORK, NY, UNITED STATES, December 6, 2022 /EINPresswire.com/ -- Analysis by Business360 underscores the limited progress leading personal care and household care companies have made toward their own plastic use abatement targets. Business360 estimates that just two of the eight companies analyzed are likely to attain their published targets

Concern about plastics continues to rise and pressure on CPG companies is getting critical, but analysis by Business360 shows many companies are doing little to move the dial and most are struggling to meet even their own plastic abatement targets.

Business360 has for over five years tracked what companies and brands are doing to respond to the plastics crisis and the analysis builds on its archive along with the latest comparative plastic abatement data provided by Ellen MacArthur Foundation.

The analysis finds most companies are failing to address their reliance on virgin fossil-based plastic and some companies such as Beiersdorf, Essity and Reckitt have made negligible headway in reaching their 2025 targets.

Business360 has also produced a Plastic Intensity Index, which captures how efficiently companies use new plastic packaging per dollar of sales. Looking at CPG companies that have reported total new plastic packaging weights for the last four years, the analysis found that the average index has improved by only 6 percent or so during that period and for some companies, including Unilever, Coca-Cola and Colgate-Palmolive, the improvement has been even more modest.

Given Coca-Cola's very high plastic intensity index, the lack of significant improvement versus 2018 is particularly disappointing.

It is well established that recycling cannot solve the plastics crisis, it can merely slow down the transit of plastics to landfills and oceans. Instead, for real change, companies need to shift from plastic and/or move to reuse solutions where packaging is used multiple times.

Business360 finds that except for a few companies, notably SC Johnson and Reckitt, most have made negligible or even zero progress in this area. Instead, they focus on the much easier and largely ineffective tactic of making packaging ‘recyclable’, which is something of a ploy since very little will ever be recycled.

This year for the first time some companies announced quantitative reuse targets, but real ambition is lacking. And while ‘recyclable’ packaging now typically makes up over half the total packaging weight for most of the companies, most companies deliver a negligible amount in reusable plastic and have no declared target.

The report, which is free to subscribers and available for purchase, contains:
• Detailed analysis of comparative company performance in abating plastic use, along with progress in meeting their declared plastic abatement targets
• Emerging trends and supporting examples of how brands and companies are seeking to reduce plastic usage
• Distillation of company activity in this space, from brand repackaging to R&D and innovation efforts through to NGO alliances and clean ups
• Business360’s estimate of the likelihood the company will attain its published 2025 plastic use reduction target

Business360 tracks plastics and the corporate response, and its news tracker is available on subscription.

Many of the world’s largest corporations use Business360 to capture and summarize important but hard to track news.

Contact us for a copy of the report and details of our analysis and news tracking services. info@business360.com

About Business360

Business360 is a leading competitive intelligence provider. For over 20 years it has provided analysis and insight to many of the world’s top corporations.

Read more at www.business360.com

Sally Knowles
Business360 INC.
info@business360.com

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