U.S. Paper Industry Reaches 68 Percent Recyclablility Rate
T he American Forest & Paper Association (AF&PA) last week announced that 68 percent of all paper consumed in the United States was recycled in 2021 – a rate on par with the highest rate previously achieved. Additionally, the recycling rate for old corrugated containers (OCC), com- monly known as cardboard, increased. The rate was 91.4 percent in 2021, up from the 2020 rate of 88.8 percent, and overall, a three-year average of 90.5 percent. “Paper recycling is stronger than ever and remains an environmental success story,” said AF&PA President & CEO Heidi Brock. “In 2021, U.S. paper recycling reached a high rate of achievement. Further evidence that our in- dustry’s investment and public participation in recycling programs are proven and effective.” Paper recycling extends the life of fiber and advances the circular economy. It allows for the creation of new, sus- tainable paper-based packaging and products. “Our industry is a leader in sustainability and under- stands what it means to be a responsible producer,” Brock said. “We are investing nearly $5 billion in projects from 2019 through 2024 to use approximately eight million ad- ditional tons of recovered fiber. This reflects a longstand- ing commitment to invest in manufacturing infrastructure using recycled paper and improve the circular nature of our industry.” Visit www.afandpa.org/priorities/recycling for more information about U.S. paper recycling statistics. NAM: Despite Concerns, Solid Gains In Manufacturing, Production in April Financial markets continue to process higher interest rates and the Federal Reserve’s attempts to control inflation, ac- cording to Chad Moutray, Ph.D. and Chief Economist at the National Association of Manufacturers (NAM) Indeed, the Federal Open Market Committee is likely to hike the fed- eral funds rate by 50 basis points at each of its next two meetings (June 14–15 and July 26–27), and there are con- cerns about the Fed’s ability to navigate a “soft landing” in the outlook. Other uncertainties include the Ukrainian conflict and COVID-19-related shutdowns in China. Yet, industrial production and retail sales data contin- ued to show resilience—at least for now—bucking the pessimism seen in financial markets and the media. While there is increasing talk of recession possibilities, a down- turn is not inevitable, particularly if consumers and busi- nesses continue to spend. For the record, while I continue to forecast economic growth in 2022 and 2023, the risk of a recession next year is higher than this year, with significant downside risks in the outlook (but also ongoing strengths). CONTINUED ON PAGE 6
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May 30, 2022
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