Dec 16, 2020 Today, Closed Loop Partners released a report dispelling myths and demystifying the rapidly growing landscape of plastic alternatives, with a focus on bio-based plastics, biopolymers and compostable products and packaging. The report unpacks the opportunities and challenges within the industry’s move toward these alternative materials, considering sustainable sourcing of feedstocks and end-of-life recovery pathways that recapture their material value after use. Currently, only 9% of the world’s plastic is recycled globally, while 11 million metric tons of plastic waste enters our oceans every year––costing people, the planet and business*. In response, consumers and regulators are increasingly pushing companies to align their products and packaging with waste reduction and climate impact goals. This pressure has led to companies making ambitious public commitments for implementing plastic-free products, eliminating non-recyclable formats and increasing the recycled content in their packaging. This, in turn, has spurred a rapid and, at times, haphazard shift away from petroleum-based, single-use plastics that are bound for landfill.