Unpacking a Post-Plastic Economy

A new report highlighting the benefits of transitioning to a plastic-free business model is what PlasticFree and Fashion Snoops are hailing a genuine investment in their business.

The entities have joined forces to present steps for brands to future-proof their business as part of roadmap averting from the continuation of plastic usage, which they insist will present a $100 billion annual financial risk to businesses by 2024. This is equivalent to a 25% of turnover in low-margin businesses.

They also purport that over the next decade, consumers’ relationship with plastic will become “unrecognizable,” per the report.

Moving Away from Plastic a Strategic Business Move

The report contends that proactively transitioning away from plastic is a “strategic move” to maintain profitability and competitiveness and to mitigate financial risks tied to rising global regulations, supporting bottom line growth and satisfying ESG targets.

“Eliminating plastic is more than a sustainability strategy—it’s a lucrative business maneuver that will future-proof companies and unlock opportunity,” said Jenna Guarascio, head of content and innovation, Fashion Snoops. “The best part? An abundance of groundbreaking, cost-effective innovations are ready and waiting to be harnessed. With this partnership, our goal is to help brands and businesses sharpen their vision and shift their perspective toward a new horizon of untapped potential. Not only will we showcase the myriad of solutions already available, we’ll help you navigate this exciting new landscape and sculpt a more resilient, profitable future in the post-plastic economy.”

Global legislation designed to tackle plastic pollution is continuing to increase with 731 new plastic pollution policies coming into effect between 2012 and 2022.

What’s more, in the coming year, a legally binding UN Global Plastics Treaty will also be in force, applicable to all 175 nations currently involved in its negotiations.

PlasticFree and Fashion Snoops recommend using natural alternatives to plastic and incorporating reuse and right to repair models.

Other ways to future-proof a business includes investing in a full traceability system to understand a materials’ environmental impact; track global plastics legislation; and avoid greenwashing traps by backing all claims with third-party verified data.

The report also calls recycling a “false solution” for brands with plastic production and pollution continuing to rise.

Facing Up to PFAS

More than 16,000 substances are used to make plastic, and more than 4,000 of those are reportedly known to be hazardous to human health.

These chemicals – including endocrine-disrupting “forever chemicals” (PFAS) – are linked to increases in cancers, heart disease, infertility and immune diseases. Recycling can heighten the health impact by concentrating chemicals.

Last week, PlasticFree and Fashion Snoops hosted event in New York and London for the launch of “The Post Plastic Economy.”

“Plastic has become a toxic default for a model of business predicated on ecological degradation and an inherent disregard for its impact on not only the planet’s health but our own,” Sian Sutherland, co-founder, PlasticFree & A Plastic Planet. “But it doesn’t have to be this way.”