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These investments offer proof-of-concept for scaling more investments in waste infrastructure across North America. Modernizing Sims’ recycling capabilities acts as a circularity laboratory, which can lead to better design for the whole US recycling system.
The business case for
circularity is
clear and it is not going unnoticed. According to the World Economic
Forum
and recent research from Bain & Company, 50 percent of leaders surveyed
expect circularity to become the “new normal” for all companies within the next
10 years.
Within trash, business executives see treasure — and value. Yet, realizing the
full market potential of a circular
economy
is inextricably linked to effective collection and manufacturing of plastic
waste. And for many cities across the US, waste infrastructure needs renewed
focus.
Infrastructure investments
The vision of a robust circular economy by world leaders cannot happen without
dedicated investment in recycling
infrastructure.
The more recyclables that are collected, sorted and cleaned, the more
opportunities manufacturers have to provide these products with a second or even
a third life — from 100 percent recycled eyeglasses to a pair of sneakers made
from plastic
waste.
Yet, it’s estimated that nearly 40 percent of households in the US don’t have
easy access to recycling where the process begins: at collection. The challenge
is magnified by the more than 10,000 completely different types of recycling
processes across the country. This dynamic creates a real market hurdle for
brands wanting to collect and process the
waste
needed to meet the increasing demand for sustainable products.
But with the right investment in community infrastructure and manufacturing, as
well as public-private collaboration, cities and the surrounding suburbs are
springboards for advancements in circularity across the United States.
A new kind of partnership
Advancing the US’s infrastructure cannot be achieved by one person or one
business alone. Partnerships between governments, communities and industries
across geographies are critical. Yet, to reach the scale needed to shift the
country’s vast and disconnected infrastructure landscape, atypical collaboration
is required.
Industry competitors don’t often join hands and work together toward the same
goal, however, in recognition of the market power needed to push the circular
economy forward and invest in local communities, industry peers
LyondellBasell, NOVA Chemicals and Dow came
together
to catalyze millions toward Closed Loop Partners’ Circular Plastics Fund.
Closed Loop Partners and industry players recognized that jumpstarting
circularity often begins with the basics — ensuring there are enough recycling
carts on the
road
and investing in new machinery. That’s why Closed Loop recently directed $45.4
million to modernize the capabilities of New York’s Sims Municipal
Recycling, one of the most impactful waste
facilities in North America. New York City produces 14 million tons of trash
every year; and Sims is at the helm of ensuring the value of plastic is not
wasted.
Dow’s President of Packaging & Specialty Plastics, Diego Donoso, sees the
investment in New York’s recycling capabilities as essential to advancing the
sustainable transition: “When Dow joined the Circular Plastics Fund as an
initial investor, we envisioned projects like the Sims Municipal Recycling
acquisition. I know this is just the first of several significant projects that
will grow and improve recycling infrastructure in the US as a result of the
Fund.”
The ripple effect
Sims operates some of the highest-volume recycling services in the country. It
processes and markets more than 200,000 tons of plastic, glass and metal
collected in New York every year; the majority of which flows through
the Sunset Park Materials Recovery Facility in
Brooklyn — the largest dual-stream recycling facility in North America.
It’s been proven that when a city embraces sustainability initiatives, it causes
a suburban ripple
effect.
That’s why the Sims investment is so important — it not only impacts New York
City’s large share of the nation’s waste, but also the surrounding suburban
areas — in upstate New York and Long Island, and states including New
Jersey and Connecticut.
Given the sheer volume of waste spread across the expansive landscape that is
the US, Closed Loop Partners’ acquisition of Sims is poised to help accelerate
recycling not only in the tri-state area of New York — but across the nation.
Investments such as Sims offer proof-of-concept toward scaling additional
investments in waste infrastructure in other North American cities. The
modernization of Sims’ recycling capabilities acts as a circularity laboratory,
allowing sustainability experts to test and iterate new capabilities that can
lead to better design and modernization of our US recycling system as a whole.
Progress through partnerships
If we can learn anything from partnerships such as the Closed Loop Fund, it’s
that many hands make lighter work. Wastepreneurs across the US, and the globe,
envision similar benefits through enhanced waste infrastructure: cleaner,
healthier and stronger communities that are a beacon of economic ingenuity and
innovation for North America and the world.
