Covestro takes recycling tack

Covestro takes recycling tack

Covestro launched a strategic program in 2019 to promote the circular economy. *No photo credit*
Covestro launched a strategic program in 2019 to promote the circular economy. *No photo credit*

German chemical firm Covestro plans to diversify its business into recycling, moving away from fossil fuels and towards alternative raw materials and renewable energy in an effort to promote the circular economy.

More than 20 of the company's projects are researching ways to improve recycling in an effort to pivot the company to "innovation recycling".

"The circular economy will lead the world as a whole to a sustainable future," said Markus Steilemann, Covestro's chief executive. "It must become the global guiding principle to achieve climate neutrality and protect the dwindling resources of our planet."

Covestro launched a strategic programme in 2019 to promote its circular economy efforts within the company.

"Produce, consume, throw away -- single-use leads to a dead end; businesses and society urgently need to rethink this," Mr Steilemann said. "Our industry and our company can and want to support this transformation. Because plastics are used practically everywhere and are the key to solving many pressing challenges, helping to master them is Covestro's main concern to make the world a brighter place."

The company is also active in numerous collaborations, such as using blockchain technology to increase transparency in supply chains towards building the circular economy. As part of the Alliance to End Plastic Waste, a globally active company network, Covestro is also working to ensure that used plastics will no longer be disposed of in an uncontrolled manner.

"Plastic should no longer get into the environment," Mr Steilemann said. "Plastics are far too valuable to be thrown away and must be understood and used as a sustainable resource."

Steilemann: Keep plastic contained

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