The declaration, acknowledges that plastics and plastic waste are valuable resources for the circular economy and an increasing collection for recycling will contribute to reducing plastic pollution. It also lays out how the alliance will reach the target of 10 million tons of recycled plastic used to make new products every year in Europe, by 2025. This target was set by the European Commission in its 2018 Plastics Strategy as part of its efforts to boost plastics recycling in Europe. This is an extremely important enabler for DOMO and all CEFLEX signatories as it will help align all parts of the plastics value chain in Europe and our respective actions as we move to a circular economy. It should also help with the development of new end markets for recycled materials from flexible packaging.
As part of the CPA, all signatories commit to work together, each within our own competencies and responsibilities, to reach this 10 million ton objective whilst ensuring the functionalities of plastic products and packaging, not compromising on consumer protection, safety and hygiene.