Impact of Plastic Packaging Tax on ESG: Driving Sustainability and Net-Zero Agenda

• Environmental taxes are increasing globally to drive sustainability and reduce plastic use
• Only 9% of plastic waste is recycled globally
• Countries are introducing bans and taxes on single-use plastics
• UK, Spain, Italy, and Germany have introduced Plastic Packaging Tax
• UK generated £276m in revenue from PPT in 2022-2023
• PPT applies to plastic packaging with less than 30% recycled plastic
• Businesses must register for PPT if they manufacture or import 10 or more metric tonnes of plastic packaging
• Exceptions to PPT include plastic packaging used in transport, aircraft, medicine, and non-packaging components

Source: mha.co.uk

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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