According to the independent United Kingdom organization Utility Bidder, the Philippines is the world’s biggest contributor to marine plastic waste, with 350,000 tons of it leaking into the ocean annually.

Another World Bank study on the Plastics Circularity Opportunities and Barriers, the Philippines is losing 78 percent of the material value of its plastics supply chain, worth $890 million each year. The recycling capacity gap stands at 85 percent.

For investors, these figures suggest a potential business opportunity — setting up large-scale plastic recycling infrastructures in the country, even while doing much-needed environmental good by reusing plastic waste that impact negatively on people and the planet.

Recycling plastic into useful material for manufacturing contributes to building a circular economy, in which waste is eliminated by putting it to productive use and preserving value.

Given the urgent environmental need along with the potential business opportunity, the Department of Environment and Natural Resources (DENR) and Nestlé Philippines are continuing their partnership for environmental sustainability, by holding the "Philippine National Recycling Conference: The Loop Towards Recyclability and Circularity" last 22 February 2024 at the Marriott Hotel Manila.

The multi-sectoral event served as a forum for potential investors, key waste management businesses, related organizations, and government agencies to discuss possible opportunities and challenges of building plastic recycling facilities, and increasing the supply of recycled packaging materials.

The mandated extended producer responsibility (EPR) for plastic waste lapsed into law in 2022. Businesses known as obligated entities with assets totaling P100 million or more must now take responsibility for the environmental impact of plastic waste from the products they produce, import, distribute, or sell to consumers, even after the products have been used. Compliance with EPR regulations involves collecting plastic waste and meeting reporting obligations, all with the goal of promoting a sustainable circular economy.

Towards the effective implementation of the EPR Act, the DENR and Nestlé Philippines organized a series of roundtable discussions in key Philippines cities last year. The discussions enabled various stakeholders to share and exchange insights, conceptualize solutions to issues, and craft recommendations to support compliance with EPR.

A major requirement identified during the discussions is the need for investments in local infrastructure for waste recovery and recycling of flexible plastic waste. Most local government units lack adequate solid waste management capabilities, especially recycling. A substantial percentage of recycling and collection continues to be borne by the informal sector, with its members needing to be integrated into the plastic waste management system, for poverty mitigation and increased effectiveness.

The conference featured a morning plenary session led by the DENR, the Board of Investments, Nestlé Philippines, and other industry experts who review the current recycling landscape in the country. Topics included the recyclability of flexible plastic packaging and its potential for transformation into food-grade recycled packaging. A design thinking session followed in the afternoon, with attendees sharing fresh insights, recommendations, and possible approaches to plastic waste recycling.