There's a lot of pressure on both businesses and the public these days, from inflation, interest rates, supply chain problems and, for businesses, regulatory demands in some regions related to packaging.
But in Europe, those issues are causing even more pain. The inflation rate in the Euro zone averages about 10 percent for all prices vs. 8.3 percent in the U.S.
But energy costs are surging well above that level in Europe, with inflation for those utilities topping 40 percent because of the war in Ukraine — and a reliance on natural gas supplies from Russia — that is impacting European businesses and residents alike.
And while green energy such as wind turbines may be more accessible in Europe, homes that rely on natural gas heating can't simply switch to solar or wind power.
"This is still a step that is being taken," Karen Laird, editor of our sister paper Sustainable Plastics and a resident of the Netherlands, said in the Oct. 4 Sustainable Plastics Live webinar. "What systems do we need to heat a town using waste gas from industry or wind power? … We're not there yet."
But even as governments and businesses struggle to secure a steady source of heat for the coming cold months, the deadline is fast approaching to meet new sustainability goals for recycled content in packaging in Europe and, as Karen notes, recycling is an energy-intensive sector.
"This all happened very quickly, and in fact too soon," she said. "It's been an extremely loud wake-up call, but we're working on it. It's going to be a very cold winter, though."
You can get more on this discussion here as well as an update on how companies are approaching environmental, social and governance issues and a preview of K 2022. The discussion is available free to Plastics News subscribers.