2024 Q2 Unverified Packaging Recycling Data Released
The Environment Agency (EA) recently released (22nd July) the unverified packaging recycling data, detailing recycling volumes for Q2 2024. This data highlights the UK's current progress toward meeting the government’s annual recycling targets for each material.
Generally, when recycling levels for a material align well or exceed the required targets, pressure in the PRN market tends to ease. On the other hand, if recycling levels fall short of expectations, market pressure can increase to incentivise the generation of more PRNs to meet the target.
Below is a table displaying the most recently up to date recycling levels, followed by two graphs illustrating the progress of each material towards meeting the overall recycling target, both with and without carry-in (surplus PRN’s generated in December 2023, available for use against 2024 targets):
This data represents the initial release and may be subject to changes until the final verified release on 23rd August. However, historically, these figures rarely fluctuate significantly. We will ensure to circulate any updates if there are notable changes.
Beyondly has decided to track the UK’s recycling progress against an 'Estimated 2024 UK Obligation, based on last year's packaging handled and applying this year's recycling targets. Unfortunately, a significant number of producers have still yet to submit their data for 2024, meaning current obligation figures are still likely to grow, so this current estimate is more likely to reflect a more realistic picture of potential progress at this stage of the compliance year.
All materials appear to be tracking well towards their recycling targets, however there is still half of the year to navigate, and positive recycling rates will no doubt have to be maintained if the UK is to reach all of its targets, in this final year before EPR is fully introduced.
Beyondly Members
We will discuss this data in more detail during our upcoming PRN Market Update Webinar on Thursday 15th August at 10am.
If you have any questions, please don’t hesitate to contact our procurement team at procurement@beyond.ly.