Jan 22 (Reuters) - OMV Chief Executive Alfred Stern warned on Thursday that overly stringent rules for building a plastics circular economy risk stifling emerging technologies before they become
OMV CEO Warns Strict Plastic Recycling Rules May Hinder Innovation
Challenges in Plastic Recycling Innovation
Jan 22 (Reuters) - OMV Chief Executive Alfred Stern warned on Thursday that overly stringent rules for building a plastics circular economy risk stifling emerging technologies before they become commercially viable.
The Innovator's Dilemma
Speaking at a World Economic Forum panel in the Swiss alpine resort of Davos, Stern said the sector faces an "innovator's dilemma" as new processes must compete with petrochemical supply chains refined over decades.
Investment in Recycling Technologies
It is cheaper to produce, use and then dispose of plastic materials, Stern said, adding that financial incentives were needed to invest in collection and sorting systems.
Global Plastics Treaty Considerations
The Austrian oil and gas group sees recycling as a growth opportunity and is investing heavily, including in what it says will be Europe's largest sorting facility with service provider Interzero.
The group currently has 200,000 tonnes of mechanical and 16,000 tonnes of chemical recycling capacity.
Stern urged negotiators of a planned global plastics treaty to consider regional differences and said Europe should stop exporting waste, calling it a valuable raw material that should remain in the region.
(Reporting by Alexandra Schwarz-Goerlich in Vienna, writing by Friederike Heine, editing by Thomas Seythal)
