Author(s)

Jiarong Nina Chen

Affiliation(s)

San Marino High School, San Marino, CA 91108, USA.

Corresponding Author

Jiarong Nina Chen

ABSTRACT

Plastics constitute more than 80 percent of marine litter, significantly impacting the aquatic environment, climate, public health, and socio-economic conditions. In response to this environmental challenge, the European Union (EU) has introduced new regulations designed to reduce plastic use. Countries such as Germany and Denmark have increased excise duties on disposable tableware and carrier bags. This study aims to assess the impact of international regulations on global recycling markets. Data on recycling rates of plastic packaging materials were collected from Eurostat to closely examine the effects of these changes. The results indicate that regulatory shifts, including new laws and bans on plastic use, have resulted in a downward trend in recycling rates in Europe since 2017 and more broadly a negative impact on the recycling market. Future research should explore how these regulations, including the plastic packaging tax and China’s plastic ban, impact specific industries such as retail, food and beverage, and cosmetics.

KEYWORDS

Plastics; Recycling; Taxes; Regulations; Bans

CITE THIS PAPER

Jiarong Nina Chen. The economics of plastic waste management: assessing the impact of global policy shifts on recycling markets. World Journal of Management Science. 2024, 2(4): 28-32. DOI: https://doi.org/10.61784/wms3042.

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