A decade ago, the concept of a circular economy was uncommon, but now more businesses are embracing it due to environmental regulations. Extended Producer Responsibility (EPR) requires producers to manage their products’ environmental impact beyond sale, reducing waste and conserving resources.
What changes will EPR make to your business?
Businesses pay for collection, transportation, treatment, and disposal under EPR. Producers might manage commitments individually or collectively. EPR includes product take-back, economic instruments, legislation, and information standards.
Extended Producer Responsibility (EPR) legislation cover packaging, single-use plastics, batteries, and electronics in Europe and beyond. EU packaging laws are being standardized to reduce waste. French EPR plans cover textiles, paper, furniture, toys, sports equipment, and gardening/DIY.
What can we learn from EPR?
Packaging Extended Producer Responsibility (EPR) rules are being passed in the US and various states. China, South Korea, and Singapore also use EPR for trash management. Chile and Colombia are pioneers in EPR waste regulation for electric and electronic waste, packaging, and hazardous waste.
How the future looks like?
Sustainable goods are in demand because people want to live a little bit better. Long-Term Product Liability (EPR) allows businesses to reduce their products’ negative impact on the environment. The government ought to expand EPR programs, encourage innovations in recycling and waste reduction, and stress the importance of producer responsibility.
Preparing Your Business for EPR Reforms: What You Need to Do Now
EPR frameworks worldwide share similarities and differences, posing complexity for businesses amidst the growing emphasis on the circular economy and ESG reporting.
Here are some of the essential points to keep in mind while adjusting your approach to EPR.
· Conduct an in-depth survey of EPR regulatory changes
· Adopting a strategic planning approach to anticipate future obligations
· Implementing compliance mapping
· Enhance staff competencies
· Comprehend the legal ramifications for operational jurisdictions.
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