Australia markets closed
  • ALL ORDS

    6,976.10
    -57.40 (-0.82%)
     
  • ASX 200

    6,762.80
    -54.70 (-0.80%)
     
  • AUD/USD

    0.6406
    -0.0009 (-0.14%)
     
  • OIL

    88.63
    +0.18 (+0.20%)
     
  • GOLD

    1,718.60
    -2.20 (-0.13%)
     
  • BTC-AUD

    31,101.22
    -673.17 (-2.12%)
     
  • CMC Crypto 200

    453.66
    -9.47 (-2.04%)
     
  • AUD/EUR

    0.6537
    -0.0003 (-0.05%)
     
  • AUD/NZD

    1.1348
    +0.0029 (+0.26%)
     
  • NZX 50

    11,103.79
    -21.45 (-0.19%)
     
  • NASDAQ

    11,485.50
    -87.68 (-0.76%)
     
  • FTSE

    6,994.16
    -3.11 (-0.04%)
     
  • Dow Jones

    29,926.94
    -346.93 (-1.15%)
     
  • DAX

    12,422.92
    -47.86 (-0.38%)
     
  • Hang Seng

    17,773.92
    -238.23 (-1.32%)
     
  • NIKKEI 225

    27,116.11
    -195.19 (-0.71%)
     

TOMRA calls for closing the loop on plastics and beyond

·4-min read

MUNICH and MÜLHEIM-KÄRLICH, Germany, May 31, 2022 /PRNewswire/ -- TOMRA continues to play a key role in closing the loop on PET beverage containers but recognizes that there is more to be done. Now political framework, bold decisions and smart investments in collecting, sorting and recycling should be used to improve circularity across all material streams and to overcome today's supply chain bottlenecks.

"We have an obligation to work with all stakeholders to reduce the mountains of waste and transform them into the valuable resources they are", TOMRA's CEO and President Tove Andersen stated at TOMRA's press conference held at IFAT. Although there has been considerable progress in recycling, the pandemic and the ongoing war in Europe have shown us that there is an urgency to decrease dependency on primary materials. "Today, we invest approximately 10% of our revenues in future-oriented activities to increase resource efficiency, advancing the market for circular solutions, which we are well-positioned to do. We have the technology capable of maximizing collection and recovery rates. We can act now, optimize waste management practices and fill existing gaps", concludes Andersen.

Having established benchmarks for climate policy worldwide, the European Green Deal, coupled with binding regulations and guidelines for producers and manufacturers, drive the acceleration to a circular economy. TOMRA urges all participants in the value chain to see these specifications as an opportunity and to support their implementation. "We have learned that mandatory legislation is necessary in order to achieve goals and create markets," Dr. Volker Rehrmann, EVP, Head of Recycling/Mining & Circular Economy, explains. "However, before we can recycle larger volumes we need to collect as much as possible. There are well-functioning collection systems in place, but it is still not enough. Every day we lose valuable resources to landfill and incineration where they are buried and burned. This is low-hanging fruit and the material must be collected, recovered and recycled."

Maximizing material circularity is not restricted to plastics. There are more material streams to close the loop on, such as metals and wood. "We must pay equal attention to these recyclables to support reaching the EU's climate neutrality goals set for 2050", said Tom Eng, SVP Head of Recycling. For example, the demand for aluminum is expected to grow by 40% by 2050, a challenge for aluminum producers with limited production capacities in Europe. The good news is that recycled aluminum plays a critical role on the way to a decarbonized world and supports producers' quest to increase recycled content and their environmental commitments. A similar scenario can be observed in the wood sector. Particleboard manufacturers are looking for a cost-effective and environmentally friendly way to source materials of which availability is currently limited and that with sky-rocketing prices. Using recycled materials in the production of wood-based or metal-based materials help producers to overcome these challenges while reducing greenhouse gas emissions, and resource depletion.

"If we leverage the power of intelligent technologies and closely work with the industry, we can turn waste into value and reduce the dependency on primary materials. Recycling is a key climate mitigator and energy-efficient route to go when supporting a sustainable transition, keeping materials in continuous use. Whatever it takes to close the loop, we will get there", finished Eng.

For more information visit: https://solutions.tomra.com/ifat

Picture is available at http://www.apimages.com/

About TOMRA

TOMRA Recycling designs and manufactures sensor-based sorting technologies for the global recycling and waste management industry to transform resource recovery and create value in waste. The company was the first to develop advanced waste and metals sorting applications use high capacity near infrared (NIR) technology to extract the most value from resources. To date, more than 8,200 systems have been installed in 100 countries worldwide.

TOMRA Recycling is a division of TOMRA Group. TOMRA was founded in 1972 and follows the vision to lead the resource revolution to transform how the planet's resources are obtained, used and reused to enable a world without waste. The company's other business divisions comprise TOMRA Food, TOMRA Mining and TOMRA Collection.

TOMRA has approximately 100,000 installations in over 80 markets worldwide and had total revenues of ~10.9 billion NOK in 2021. The Group employs ~4,600 globally and is publicly listed on the Oslo Stock Exchange. The company headquarters are in Asker, Norway.

For further information about TOMRA, visit www.tomra.com and follow TOMRA Recycling on Facebook, Twitter and on LinkedIn.

Media contacts
Michèle Wiemer
T: (+49) 2630 9150 453
M: (+49) 172 454 930 9
E-mail: michele.wiemer@tomra.com

Mithu Mohren
T: (+49) 2630 9150 450
M: (+49) 171 47 88 335
E-mail: Mithu.mohren@tomra.com

SOURCE TOMRA