Pact Group will invest more than $500m in existing and new facilities, over the coming five years, in collaboration with government and partners, the company announced at the National Plastics Summit 2020 in Canberra.
Pact non-executive chairman Raphael Geminder said the pledge underpins Pact’s strategy to lead the “circular economy” through investments in sustainable packaging, reuse and recycling initiatives.
Pact Group is also investing further in innovation, technology, and materials science capabilities to enable increased inclusion of recycled content.
“Pact is already Australia’s biggest recycler and user of recycled materials in the Southern Hemisphere – but we have ambitions to go much further,” Geminder said.
“Our stated vision is to include 30 per cent recycled content across our product portfolio by 2025. Across our business, this would be the equivalent of keeping nearly 2bn plastic containers out of landfill. Just as importantly, we will be creating jobs for Australians in the circular economy – a new and growing sector where we believe Australia can lead the world.”
Federal minister for the environment, Sussan Ley, who is hosting the National Plastics Summit 2020, welcomed the investment commitment by Pact.
“We need to change the ways we use and re-manufacture plastic from both an environmental and business perspective,” she said.
“The first National Plastic Summit is about companies leading change, and I applaud Pact Group for their significant investment in Australia’s recycling economy and their vision for closing the loop on plastics.”
Since 2018, Pact has been pursuing three 2025 End of Waste Targets: to eliminate all non-recyclable packaging it produces; to find solutions to reduce, reuse and recycle all single use secondary packaging in supermarkets; and to offer 30 per cent recycled content across its packaging portfolio.
The company said it has made significant progress, with benefits for its customers and the environment.
“Reducing plastic waste requires investment and commitment at every stage of the supply chain,” Geminder said.
“At Pact, we recognise that packaging has a critical role in the circular economy as a destination for recovered materials, which can be reused and recycled again and again. That is why we are determined to take a leadership position and play our part. We decided to act when we set our 2025 targets and I am delighted by the progress that we have made in a relatively short timeframe. It is now time for others to embrace this change, work collaboratively and take action”.
Last month, Pact announced it would join with Cleanaway Waste Management and Asahi Beverages to build a PET recycling facility capable of processing up to 28,000 tonnes of plastic waste a year.
