Environmental Role ( Cont’d from Page 6)
Other businesses are tackling packaging challenges by crowdsourcing ideas from a broad audience of bright minds. Multinational brewer, AB InBev, has launched the 100+ Accelerator program through which they are collaborating with entrepreneurs to co-create solutions that will help them reach their own sustainability goals, such as their circular pack- aging target. In parallel, AB InBev are supporting these entrepreneurs in scaling their sustainable inno- vations, through funding and mentoring. Do Eat, which produces 100 percent edible and creative packaging containers, is one of the 21 initial start-ups chosen to participate in the program. AB InBev will work with each of the start-ups to implement and scale their solutions across the AB InBev business and with their partners. Saving The Environment The deterioration of the environment caused by discarded manmade materials has reached critical levels, with proven negative impacts on ecosystems and now also potentially human health. As con- sumers become more environmentally conscious and hold businesses and their packaging standards to ac- count, the hope is that companies will be incen- tivized to produce and package more responsibly. However, environmental and societal benefits are not the only incentives for change; as leading compa- nies address this global challenge, shifting their strategies toward sustainable and innovative packag- ing design, they succeed in unlocking new revenue streams and creating unique competitive advantages within their industry. As PACE reports, innovative de- livery models and changing use patterns are calculat- ed to be worth approximately $9 billion to the plastics industry. Economic Opportunities Through harnessing design and after-use system im- provements, economic opportunities for a further 50 percent of all plastic packaging are now possible.The economic value of implementing best practice in packaging design and heralding recycling as an end- use alternative to incineration, landfill and energy re- covery is estimated at $2-$3 billion annually across Organization for Economic Co-operation and Devel- opment countries. The competitive advantage to be gained, coupled with the opportunity to leverage brand power to shift consumer behavior, make compelling arguments en- couraging all industries to join the packaging revolu- tion. Certainly, as we lean in to the Fourth Industrial (Cont’d on Page 10)
8 January 21, 2019 Flexo Market News
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