With the European Commission’s (EC) approval, the French government’s new € 500 million (US $ 516 million) chemical recycling program to promote the circular economy in the textile and plastic industries has gathered momentum.
The French government’s effort aims to promote the chemical recycling of specific plastic waste kinds, such as containers, wrapping materials like films, bottles that aren’t related to drinks, and textile products that include a certain percentage of polyester.
According to reports, the plan complies with state aid laws set down by the European Union (EU). Additionally, it is well-positioned to further the strategic goals of the European Commission for 2024–2029.
As part of the broader industrial transition to climate neutrality, this project will be essential to achieving the EU’s goal of circular production and consumption patterns.
Within the framework of the program, which accepts organisations of all sizes from a variety of sectors, the aid will be distributed as direct grants.
This French program, which supports resource efficiency and the transition to a circular economy, is the first State aid program assessed under Section 4.4 of the Climate, Environmental Protection, and Energy 2022 (CEEAG).
The maximum amount of support is limited to 40 per cent of the eligible expenditures, which are determined by contrasting the overall investment costs of less ecologically friendly options with those of a plastic waste chemical recycling project.
