Impact of packaging on businesses

What percentage of people wants to cut down on the amount of plastics they use?

82 percent

23 percent

76 percent

80 percent

What are investors increasingly seeing plastic as?

A good investment because it is cheap

Useful

A business risk

An unacceptable investment

Why is the government looking more closely at tackling plastics use?

Because of the Extinction Rebellion protests

Because investors have asked them to

Because they bear the burden of the cost of recycling it

Because it is becoming more expensive

What was the cost of plastic in 2017, and what is the cost now?

The price has not changed

55GBP a tonne in 2017 and 400GBP a tonne today

400GBP a tonne in 2017 and 50GBP a tonne today

50GBP a tonne in 2017 and £400 a tonne today

What changes in April 2022?

Any companies using plastic will be subject to a new plastic levy

Only certain types of fully recyclable plastics will be used

Plastics containing less recyclable material will be more heavily taxed

Plastic will be banned

What does the new tax entail?

A tax on companies using any kind of plastic

A charge of around 150-200GBP per tonne for plastic packaging that is less than 30 percent recycled material

A charge for using more than 1,000 tonnes of plastic a year

A tax rebate for companies using plastics that are more than 50 percent recycled material

What does the extended producer responsibility legislation entail?

Producers are now responsible for recycling the plastic they sell

Producers and users of packaging pay the full net cost of its collection, reprocessing and recycling

Producers pay the full net cost of the collection, reprocessing and recycling of packaging

Producers must state their recycling policy prominently in the annual report

What do companies using lots of plastic need to do to prevent this impact having a devastating effect on their finances?

Partner with recycling companies

Buy carbon credits

Understand the fundamental changes that are needed to the entire business

Cease using plastic completely

What should the finance department do?

Encourage investment in research that may lead to more recycled plastic being used in their products

Negotiate better deals with recycling companies

Procure cheaper plastic

Task finance leadership rather than junior members of the finance team with plastics compliance

Which of the following is not a benefit of a good plastics strategy?

Competitive advantage

Reputational benefit

Less scrutiny from inspectors

Businesses will be better prepared for inevitable future legislation

Impact of packaging on businesses

What percentage of people wants to cut down on the amount of plastics they use?

What are investors increasingly seeing plastic as?

Why is the government looking more closely at tackling plastics use?

What was the cost of plastic in 2017, and what is the cost now?

What changes in April 2022?

What does the new tax entail?

What does the extended producer responsibility legislation entail?

What do companies using lots of plastic need to do to prevent this impact having a devastating effect on their finances?

What should the finance department do?

Which of the following is not a benefit of a good plastics strategy?

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