Neste has pledged to work towards chemical recycling of more than one million tons of plastic waste annually from 2030 onwards.
We aim to use liquefied waste plastic as raw material to produce high-quality plastics, chemicals and fuels. Neste sees a combination of solutions, e.g. mechanical recycling, chemical recycling and bio-based material solutions, as an essential approach to the Plastics Strategy agenda. Chemical recycling can increase plastics recycling rate by complementing mechanical recycling by utilising waste plastic streams that currently have no or low value in recycling.
Why chemical recycling :
- accelerates circular economy and increases recycling rates by utilizing a wider range of waste plastics than traditional, mechanical recycling
- produces high-quality end products – new plastics, chemicals and fuels – that can be used as drop-in solutions in all current applications
- decreases dependency on crude oil imports and lowers the carbon footprint of products
- supports global reduction of plastic waste and helps phase out landfilling
- can create new jobs in Europe. Regulatory recognition of chemical recycling is needed to speed up development.