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I hope everyone actually moves away from single use plastics. Instead of making pledges they have no intention of honoring and "looking into" things they'll never actually do.
My understanding is that the work is being seriously pursued -- as in actual dollars have been spent and there's equipment currently proving out the tech. It's a far cry from all the other greenwashing the company does and did. There's enough going on that I think it's legit, especially since this was an industry wide effort.
To clarify, their plan is to turn "single use plastics" into just "plastics" by chemically reprocessing the waste from single use plastics. You wouldn't be melting the plastic and then reblowing it - you'd be melting it and reacting it several times first.
I don't expect you to believe me a priori, I would certainly have my doubts if I hadn't been in the department. I hope it pans out because it wouldn't just cut down on plastic waste. There would be value in collecting the waste all over the oceans, and if there's one thing you can rely on, it'll be some venture capitalist starting a company to harvest all of that.
Until there's results, there's no reason to believe anything they say. It's just vapor to stop companies from abandoning single use plastics.
That's fair. There's always a chance they kill it within the next few years too.