The revised packaging waste targets for glass have been laid before parliament and will officially come into force on 24 November 2014.
The Producer Responsibility Obligations (Packaging Waste) (Amendment) Regulations 2014 bring measures first outlined by the government earlier this year, with a change to the glass recycling business target from 81% to 75%, rising 1% per year until 2016.
The reduced target is intended to cut the costs of buying packaging recovery notes (PRNs) for obligated businesses while still meeting the requirements of the EU Packaging and Packaging waste Directive.
Chris Taylor, Commercial Manager at Clarity Environmental, said: “The change in target has come as a welcome boost to glass PRN buyers. After a two-year volatile PRN trading environment in the UK, 2014 has so far proved to offer a far more comfortable position, and there is no doubt that this has been assisted by the announcement of the government’s reduction of glass packaging targets.
“There is wide expectation that a reduced target will make it easier than last year to comply and we arere likely to see a drop in price as a result.
“The government has suggested that this reduction in targets is a “best of both worlds” option. The new 75 per cent business targets are low enough to push PRN prices down, but the growing targets over the next two years will encourage the industry to strive forward and increase their recovery activity. We will have to wait and see how this pans out over the course of the year.”
Clarity has been buying and selling packaging recovery notes (PRNs) since our business started in 2002. We are now one of the largest and most experienced open market traders of PRNs. To talk to our team about buying or selling any grade of packaging recovery note (PRN), contact our team on 0845 129 7177.