Editorial
Plastic pollution has spiraled into one of the most pressing environmental challenges of our time. It’s everywhere—from the depths of our oceans to the peaks of our mountains, and even in our food and water.
In 2021 alone, we produced a staggering 390.7 million metric tonnes of plastic, and if we don’t change course, this figure is projected to triple by 2050. Each year, over eight million tonnes of plastic find their way into our oceans, wreaking havoc on marine life, ecosystems, and human health.
It’s time to shift our mindset from the outdated ‘take-make-waste’ linear economy to a more sustainable and forward-thinking circular economy. This new, innovative approach can drastically cut the volume of plastics entering our oceans by 80%, slash greenhouse gas emissions by 25%, save an estimated USD 200 billion annually, and create 700,000 net additional jobs. These aren’t just statistics—they represent a real, tangible opportunity to make a difference.
In this edition of “This Week in Consulting,” we dive into the deep end of these issues and explore strategies to integrate sustainability into business. We’ll discuss the latest regulations and the crucial steps businesses need to take, how creating new value chains is essential to tackle the ocean plastic crisis, and how AI solutions can help us manage plastic waste more effectively without inadvertently causing new problems.
However, we’re also facing a stark reality. The consumer goods industry, a significant player in this arena, is currently falling short of its plastic reduction targets. The need for urgent action and strategic steps towards circular packaging has never been more critical.
So, let’s dig into these topics, share our thoughts, and spark a conversation that leads to real change. Join us on this journey. Let’s turn the tide on plastic pollution and pave the way for a more sustainable, resilient world.
Laurent THOMAS
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we dive into the deep end of plastic pollution and explore strategies to integrate sustainability into business.
AlixPartners’ article emphasizes integrating sustainability into business strategies, focusing on plastic use. It discusses EU regulations, outlines steps for businesses including identifying exposure, defining value chains, and formalizing raw material requirements to ensure compliance and competitiveness.
This week’s media
In this video by Kearney, Vanessa Coleman, CEO of Oceanworks, discusses creating new value chains to address the ocean plastic crisis and collaborating with consumer brands to promote plastics circularity.
Thought Leadership
This article by Augury highlights the environmental challenges of plastics, parallels with AI, and advocates for improved recycling. AI innovations, such as advanced sorting and enzyme customization, offer solutions but must be balanced to prevent creating new issues.
This article by McKinsey highlights the booming demand for circular plastics, drawing parallels to the US shale gas investment surge, emphasizing the need for strategic partnerships and significant investments to sustain growth and meet recycling targets by 2030.
RSM’s article highlights plastic pollution’s urgency, advocating for a circular economy. It emphasizes innovative solutions, including enzyme-embedded plastics and river-cleaning technology like The Ocean Cleanup’s Interceptor, to create a more sustainable future.
This article by Accenture reveals the Consumer Goods industry is failing to meet plastic reduction targets. Urgent action and five strategic steps are needed for circular packaging to prevent severe environmental consequences and align with evolving sustainability demands.
This week’s consulting news selection
MNP, one of Canada’s largest national professional services firms, was pleased to announce that it will join forces with Bradley Handrahan Chartered Professional Accountants, effective July 15, 2024.|
Plenitude Consulting, a leading financial crime risk and compliance firm, has announced the acquisition of Contineo Financial Risk Solutions Ltd, a provider of specialist Financial Crime Compliance (FCC) technical advisory services.|
Partners at KPMG Switzerland and KPMG UK have voted overwhelmingly in favour of merging their partnerships and will become a new $4.4bn business, working across audit, tax and legal, and advisory. This will make the firm the second largest in the KPMG network by some distance.|
Mark Shaw has been named as BDO’s next Managing Partner following a vote by the firm’s equity partners. Mark will take office on 1 October 2024. He succeeds Paul Eagland.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.
