PLASTICS: Promoting Long-term Approaches for a Sustainable, Transformative and Inclusive Circular Economy in Sri Lanka
Over 500,000 tonnes of plastic is imported to Sri Lanka annually, and it is estimated that 1.59 million tonnes of plastic waste overall is mismanaged. The linear take-make-dispose model of the plastic value and supply chain (V/SC) in Sri Lanka fails to capture the economic benefits of a more circular approach.
Over 48 months, the PLASTICS project funded by the European Unions, aims to improve economic development within the plastic V/SC through Small, Medium Enterprises’ (SMEs) resource efficiency, circular innovation, green finance, and sustainable waste management (SWM) frameworks in Western Province.
150 SMEs, 10 entrepreneurs, 50 Business Development Service providers, 10 financial and government institutions, and private sector actors will be supported to promote a cohesive environment for green business development. Businesses, particularly women-led ones, will be supported to boost value addition, improving overall competitiveness and cost-efficiency.
Objective
The objective of the project is to facilitate sustainable and innovative plastic minimisation and management in Sri Lanka by integrating SMEs in greener value and supply chains, thereby contributing to economic prosperity and environmental sustainability.
Planned Outputs
- SMEs in the plastic V/SC adopt circular economy strategies.
- Innovative, circular economy approaches are streamlined throughout the plastic V/SC.
- Access to finance and green investments are increased to scale up green economic initiatives, especially among SMEs.
- The traceability, transparency and compliance to plastic sustainable waste management are strengthened through public private dialogue, collaboration and monitoring.
