The Shift Toward a Circular Plastics Economy
LEGO, Patagonia, Nestlé, Procter & Gamble, Apple, and Unilever—what do these companies have in common? They are shifting from a linear to a circular plastics economy as part of their Environmental, Social, and Governance (ESG) goals.
LEGO is developing a prototype for bricks made from 100% recycled PET plastic. Patagonia has been using discarded bottles to create recycled polyester since 1993. Now, they also reuse production waste and old garments. Nestlé plans to cut its use of virgin plastics by one-third and make all packaging recyclable or reusable by 2025. Procter & Gamble aims to achieve 100% recyclable or reusable packaging by 2030. They are starting by cutting petroleum-based plastic use in half by the end of this year. Apple is reducing plastic packaging and testing fiber-based alternatives. Unilever is cutting virgin plastic use by 50% in four years. They are also designing products to be reusable, recyclable, or compostable while collecting more plastic than they sell.
Why Companies Are Prioritizing ESG Goals
Companies are placing a stronger focus on sustainability. Climate change remains a global concern, and businesses are increasing their ESG commitments. We recently examined how ESG goals evolved in the workplace, especially in proxy statements and corporate disclosures. More companies now include ESG goals in public communications—but why?
The main reason is values. Financial performance is important, but corporate decisions also reflect a company’s culture and principles. Investors and stakeholders prefer to support organizations that align with their values. ESG commitments help businesses grow and enhance their reputation.
How ESG Goals Shape Business Strategy
ESG goals are not just a regulatory requirement—they showcase a company’s values. So, what are your company’s ESG goals? How were they determined?
Some organizations have clear ESG goals and strong internal communication. Others may still be defining their objectives and aligning them with business strategy. At MorganHR, we stay ahead of industry changes and can help you navigate ESG goal-setting. If your company is ready to make informed sustainability decisions, let us guide you.