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Article

How COVID-19 Could Change the Economics of the Plastic Recycling Sector

1
Fisheries Economics Research Unit, Institute for the Oceans and Fisheries, University of British Columbia, Vancouver, BC V6T 1Z4, Canada
2
Ghana Institute of Management and Public Administration, Accra P.O. Box AH50, Ghana
*
Author to whom correspondence should be addressed.
Academic Editors: Michele John and Wan-Ting (Grace) Chen
Received: 4 February 2021 / Revised: 13 September 2021 / Accepted: 22 September 2021 / Published: 26 September 2021
(This article belongs to the Special Issue Advances in the Recycling and Processing of Plastic Waste)
The price of oil has a great influence on prices of recycled plastics and, therefore, plastic recycling efforts. Here, we analyze the effects of the ongoing COVID-19 pandemic on crude oil price and how this, in turn, is likely to affect the degree of plastic recycling that takes place. Impulse response functions and variance decompositions, calculated from the structural vector autoregression, suggest that changes in crude oil prices are key drivers of the price of recycled plastics. The findings highlight that because plastics are made from the by-products of oil, falling oil prices increase the cost of recycling. Therefore, the price of recycled plastics should be supported using taxes while encouraging sustained behavioral changes among consumers and producers to selectively collect and recycle personal protective equipment so that they do not clog our landfills or end up in our water bodies as plastic waste. View Full-Text
Keywords: plastic recycling; crude oil; impulse response functions plastic recycling; crude oil; impulse response functions
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MDPI and ACS Style

Issifu, I.; Deffor, E.W.; Sumaila, U.R. How COVID-19 Could Change the Economics of the Plastic Recycling Sector. Recycling 2021, 6, 64. https://0-doi-org.brum.beds.ac.uk/10.3390/recycling6040064

AMA Style

Issifu I, Deffor EW, Sumaila UR. How COVID-19 Could Change the Economics of the Plastic Recycling Sector. Recycling. 2021; 6(4):64. https://0-doi-org.brum.beds.ac.uk/10.3390/recycling6040064

Chicago/Turabian Style

Issifu, Ibrahim, Eric W. Deffor, and Ussif R. Sumaila 2021. "How COVID-19 Could Change the Economics of the Plastic Recycling Sector" Recycling 6, no. 4: 64. https://0-doi-org.brum.beds.ac.uk/10.3390/recycling6040064

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