A new report by Business360, FAILING COMMITMENTS, shows that companies that made global commitments on plastic consumption now use more plastic than they did five years ago. Worse, companies on average now use more plastic to generate each unit of real dollar sales than five years ago.
NEW YORK, Jan. 25, 2024 /PRNewswire-PRWeb/ --
Key Findings:
- Aggregate Plastic Use Up Since 2018: Consumer goods companies that in 2018 pledged to the New Plastic Economy Global Commitments have since collectively increased plastic usage by 8%. Shockingly, some companies increased plastic consumption over 20%.
- Aggregate Plastic Use Year-on-Year: Of the 37 companies (36 signatories plus Procter & Gamble, a non-signatory) reporting packaging data for both 2021 and 2022, more than half increased plastic use. Aggregate plastic use rose over 2% from 11.4 million metric tonnes in 2021 to 11.7 million metric tonnes in 2022.
- Shocking Trend On Plastic Use Efficiency: Assessing plastic use efficiency by measuring grams of plastic per unit of revenue in real dollars, analysis reveals the shocking finding that companies now use 8.4% more plastic to generate each unit of revenue than they did in 2018.
Looking at changes in real plastic intensity in reporting currency for each company removes the effect of exchange rate movements. This shows that most companies managing to make any improvement are doing so at 3% or less per year, but most large companies are making barely any improvement or are using more plastic per unit of revenue.
This new and in-depth analysis shows that corporate New Plastic Economy Global Commitments are not bringing reductions in plastic consumption.
For further information, media inquiries, or to access the complete report, please contact us.
About the report
FAILING COMMITMENTS - CPGs And Their Struggle Against Plastic - 2024: a 100-page comprehensive review of how CPG companies are moving from relying on plastic, with special emphasis on household and personal care categories.
FAILING COMMITMENTS brings together a range of public data and includes original comparative performance analysis, including plastic use information coming from Ellen MacArthur foundation, revenue data from company filings, and supplementary research. Numerical findings are supplemented with insights into driving themes that will govern corporate responses to the plastic issue in coming years.
Household and Personal Care (HPC) Companies are covered in greater detail, with comparative analysis and individual competitor profiles, including a summary of key developments and activities in 2023 for all companies Companies covered: 1. Clorox Company 2. Colgate-Palmolive 3. Essity 4. Henkel 5. L'Occitane 6. L'Oréal 7. Natura 8. Reckitt 9. SC Johnson 10. Unilever 11. Werner & Mertz.
The report includes:
PRIMARY METRICS (7 slides) • High-level comparative analysis • Graphical overview of CPG company covering overall plastic use, plastic intensity, virgin plastic usage, post-consumer recycled content, reusable, recycle, compostable, and reuse.
PROGRESS (7 slides) • Comparative performance analysis covering total plastic usage, improvement since 2018 and year-onyear, plastic intensity changes, post-consumer recycled content, and changes on 'reusable, recyclable or compostable' content.
DRIVING THEMES (9 slides) • Core trends that will drive corporate responses to plastic use, including regulatory, policy, financial, marketing and consumer insights
GROUP ANALYSIS (HPC) (5 slides) • Comparative analysis of companies most involved in HPC categories • Graphical overview covering overall plastic use, plastic intensity, virgin plastic usage, postconsumer recycled content, reusable, recycle, compostable, and reuse.
COMPETITOR ANALYSIS (HPC) (27 slides) • Detailed look at the HPC companies' progress against 2025 targets and provides a prediction on the likelihood that they will meet their targets for virgin plastic reduction; reusable, recyclable or compostable content; and post-consumer recycled content.
2023 COMPETITOR NEWS (HPC) (31 slides) • Key competitor news covering objectives and strategies, investments, packaging changes, partnerships, innovations, patents and more.
Standard report: $10,000; one tailored for categories and brands you specify for an additional $5,000-15,000, and monthly briefs for $500/month (all for corporate-wide use).
About
Business360 has for two decades provided research, analysis and advice for some of the world's most demanding and prestigious companies. For over five years it has tracked and analyzed the performance of CPG companies as they try to reduce reliance on plastic. Corporations buy our work to keep up with this complex and critical issue and better identify feasible solutions relevant for their brands.
About the report FAILING COMMITMENTS - CPGs And Their Struggle Against Plastic - 2024
Media Contact
John Marchant, Business360, INC, 44 7429662205, [email protected], www.business360.com/plastics
SOURCE Business360, INC
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