TAGS: Sustainability and Bioplastics
Toyo Seikan Group Holdings, Ltd. and Idemitsu Kosan Co., Ltd. announced the joint start of a demonstration test on the recycling of “plastic scrap material”.
In the demonstration test, Chemical Recycle Japan Co., Ltd., a subsidiary of Idemitsu Kosan, will use the plastic scrap material occurs in the manufacturing process of plastic products at the plants of Toyo Seikan Group as raw material, produce generated oil by its technology of recycling used plastics into oil.
Realizing a Zero-waste Society by Switching to Renewable Materials
Through a series of these initiatives, Idemitsu Kosan will confirm the availability of using generated oil as a raw material for petrochemical products and fuel oils, and verify the feasibility of recycling plastic scrap material. In the future, Idemitsu aims to produce “Renewable Chemicals” and “Renewable Fuel Oil” with its oil refining and petrochemical equipment, using generated oil derived from plastic scrap material as a raw material.
Toyo Seikan Group, through its "Eco Action Plan 2030" established in 2019, is striving to realize three types of societies: a zero-carbon society, a zero-waste society, and a society coexisting with nature.
In realizing a zero-waste society, Idemitsu will switch materials used for its products from fossil-based to recycled and renewable materials, including plant-based plastics. By minimizing the use of exhaustible resources and promoting product designs that can be easily resourced after use, it aim to evolve from one-way to circular products and systems. It will enhance the effectiveness by concretizing measures to reduce environmental impacts and steadily promote initiatives towards realization.
Visions for Carbon-neutral Society
Toward the realization of a carbon-neutral society in 2050, Idemitsu Kosan has set forth its vision for 2030, “Your Reliable Partner for a Brighter Future,” and its vision for 2050, “Shaping Change.” In the Medium-term Business Plan (fiscal years 2023-2025) announced last November, the company expressed its commitment to fulfill “Responsibility to support people and their daily lives” and “Responsibility to protect the global environment now and in the future” through social implementation in the 3 business domains.
The initiative to recycle plastic scrap material is an important initiative for social implementation of " Diverse resource conservation/circulation solutions", one of the three business areas stated in the company's medium-term management plan.
Through the demonstration test, both companies will work to realize a carbon-neutral and recycling-oriented society.
Source: Idemitsu Kosan
