In the context of scarcity of raw materials and fluctuating prices of those in our economy, the approach of a sustainable Circular Economy contributes to security of supply and environmental protection. The Circular Economy is the intersection of environmental, economic and social aspects in the linear system of the economy which consists of extraction, production, use and disposal. The changed social model aims at resource efficiency and is designed to transform waste into raw materials. The economic cycle is thus closed.
In Mexico, a general circular economy law was already passed last November. This applies throughout the national territory and one of its main objectives is to promote efficiency in the use of products, services, materials, secondary raw materials and by-products through reuse, recycling and transformation. Likewise, it aims to reduce the environmental impact of economic activities and keep emissions low.
This month, the Circular Economy 4.0 Mexico Forum was held. Organizers here were the Organization for the Support of the Circular Economy and the Research Center for Anaerobic Digestion, Municipal Solid Waste, Water, Green Energy and Composting. It served as a dialogue with stakeholders to explain how waste can be turned into profitable resources through the circular economy model. Members included senators, congressmen, secretaries of various government agencies, and municipal presidents who pledged continued support for the circular economy. It was emphasized that there was no level of government that could be excluded from the Circular Economy enforcement actions, as it is vital to the viability of cities and the country.
A fundamental aspect of the Circular Economy is the production and reuse of plastic in light of the conservation of resources of the petroleum used for its production. In Mexico, the plastics industry accounts for 3.5% of the gross domestic product of the manufacturing industry and creates about 1.2 million direct jobs. Thus, it is essential that the plastics industry reaffirms its commitment to strengthening the Circular Economy. This was also the theme of this year’s Plastimagen México Fair, where we as WMP Mexico Advisors were also present. The fair gathered the main players in the plastics industry and numerous other companies under the slogan “Greener than ever”. There was a special focus on promoting new technologies, materials and processes of the circular economy of the plastics industry.
Do you have further questions about current economic developments in Mexico? Do not hesitate to contact us!