Some good news from 2020 – the two millionth tonne of Packaging Recovery Notes (PRNs) was traded on 22 December, marking the first time this environmental milestone has been achieved within one calendar year.
As Resource explains, PRNs are certificates demonstrating that a business has recycled or recovered a tonne of packaging, or exported it for recycling overseas. They are traded on the Environment Exchange (t2e) platform, where they are bought by packaging producers as a way of contributing to the cost of recycling their products and reducing the environmental impact of their business.
The PRN system forms a key part of the Producer Responsibility Obligations (Packaging Waste) Regulations 2007. The regulations apply to companies which manufacture, convert, pack or retail more than 50 tonnes of packaging every year and have an annual turnover of at least £2 million. They cover packaging made of paper, glass, plastic, steel, wood and aluminium.
So, this latest announcement is a real step forward in the drive to make the packaging industry cleaner and greener.
Locking in prices
The announcement was made by t2e’s Managing Director Angus Macpherson, who said: “Despite a year of challenging market conditions caused by Covid-19, over 2 million tonnes (t) were traded through t2e in 2020.
“A difficult year has seen a 22% increase in Forward trading with participants looking for certainty by locking in prices as well as benefiting from the reduced Forward fees.
“The 28 Day Rolling Market, which launched earlier in the year, has also proved attractive to participants with its extended settlement date, with a total of 148,130t traded. The 28 Day Rolling Market will reopen on the 1st February 2021.
“We would like to thank all our participants for their continued support in these tumultuous times.”
Sustainable packaging and printing
At the Delta Group, we applaud all initiatives aimed at improving sustainability in packaging. What’s more, we can help your company harness the latest trends.
Take our wide-format, single-pass Nozomi printer. It prints directly onto corrugated materials rather than print and mount, removing process and saving time.
Sustainability principles are always at the forefront of our business. We procure materials from eco-friendly sources with low energy consumption and optimum water usage. We are now also using 100% green electricity. To find out more about our sustainable business model, or our Nozomi printing solutions, contact us today.