Indorama Ventures (IVL), a global chemical producer recently announced its commitment as part of the ‘New Plastics Econom’y to help create a world where plastic never becomes waste. The company is now accelerating its efforts in support of a very ambitious goal to increase recycled content volumes by at least 750,000 tonne, while also recently pledging $1.5 billion towards achieving this target by 2025.

Indorama Ventures is among 400 organisations committed to eliminate problematic plastic packaging, and increase the use of recycled plastic in packaging. The New Plastics Economy Global Commitment calls on companies and governments to innovate solutions enabling plastic to be 100 per cent reusable, recyclable, or compostable. The Ellen MacArthur Foundation and the UN Environment Programme have released the first New Plastics Economy Global Commitment progress report, which reveals signatories’ efforts to manage plastic waste and pollution.

IVL wishes to invest globally in the circular economy and in new technologies that can steer further its aspiration of being a world-class chemical company making great products for society. The Company announced a joint venture with Loop Industries aimed at commercialising their chemical recycling technology‎ for sustainable PET packaging resin and Polyester fibers. In June 2018, the company also unveiled its partnership with Ioniqa Technologies, together with Unilever Europe, to unlock the potential of PET recycling with ground-breaking technology to pioneer a new approach to processing PET waste as renewed feedstock for virgin PET.