The European Commission has approved a €500m scheme by France to support chemical recycling, an advanced method for repurposing plastic waste.
This initiative aligns with the European Union’s commitment to building a more circular and resilient economy as part of its 2024-2029 Political Guidelines. The funding aims to drive innovation in recycling technologies, reduce dependency on fossil-based raw materials, and move the industry closer to climate neutrality.
Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition, explained: “The French scheme approved today will support investments for chemical recycling of plastics.
“It will contribute to the EU’s objective of reaching climate neutrality by 2050 by promoting the use of existing resources through efficiency and circular economy practices.
“At the same time, the scheme will ensure that any potential competition distortions will be kept to a minimum.”
What is chemical recycling?
Unlike traditional mechanical recycling, which involves shredding and remelting plastics, chemical recycling breaks down plastics at a molecular level.
This process allows for the recovery of high-quality raw materials that can be used to create new plastics with properties equivalent to virgin materials.
By converting mixed and contaminated plastic waste into reusable raw components, chemical recycling offers a solution for hard-to-recycle plastics that would otherwise be incinerated or landfilled.
This innovative approach helps close the loop in plastic production and consumption, ensuring that plastic waste can be continuously repurposed, thereby reducing pollution and promoting sustainability.
France’s €500m investment
France has introduced this substantial funding programme to support the chemical recycling of specific plastic waste types, including:
- Trays
- Films
- Non-beverage bottles
- Textile materials containing polyester
The goal is to enable companies to adopt advanced recycling technologies that transform plastic waste into high-quality, virgin-like raw materials.
This will contribute significantly to the European Union’s circular economy strategy and its long-term sustainability objectives.
Financial support for companies of all sizes
The French scheme is designed to encourage participation from businesses of all sizes and across various industries.
The financial aid will be provided in the form of direct grants, covering up to 40% of the additional investment costs required for chemical recycling projects.
The eligible costs are determined by comparing the total investment expenses of chemical recycling initiatives with those of less eco-friendly alternatives.
By offering this financial support, the initiative seeks to make chemical recycling a viable and attractive option for companies looking to enhance their sustainability efforts and reduce their environmental footprint.
Advancing towards a circular economy
France’s ambitious investment in chemical recycling represents a transformative move in the battle against plastic waste.
By leveraging cutting-edge technology and financial support, this initiative promises to reduce plastic pollution, promote circularity, and set a precedent for sustainable waste management across Europe.
As industries adopt these advanced recycling methods, the vision of a truly circular economy moves one step closer to reality.
