EU plans ‘digital product passport’ to boost circular economy
The European Commission plans to introduce a “digital product passport” early next year that would contain information about the composition of goods on the European market to help boost their chances of being reused and recycled.
At the moment, half of total greenhouse gas emissions and over 90% of biodiversity loss and water stress come from resource extraction and processing. Global consumption of materials, like biomass, fossil fuels, metals and minerals is expected to double over the next four decades, with annual waste generation projected to increase 70% by 2050.
The idea is to identify the most important information about the makeup of each product so that users across the supply chain can reuse it or treat it correctly at waste management facilities.