With the European Commission’s (EC) approval, the French government has introduced € 500 million (US $ 516 million) chemical recycling program to promote the circular economy in the textile and plastic industries.
The goal of the French government’s initiative is to encourage the chemical recycling of some types of plastic trash, including containers, film-based wrapping materials, non-drinking bottles, and textile items that contain a specific percentage of polyester. The strategy conforms with the EU’s state assistance regulations. It is also in a good position to advance the European Commission’s 2024–2029 strategic objectives.
The maximum level of support is limited to 40% of eligible expenditures, which are calculated by comparing the overall investment costs of less environmentally friendly solutions to those of a plastic waste chemical recycling project.
This initiative will be crucial to reaching the EU’s objective of circular production and consumption patterns as part of the larger industrial transition to climate neutrality. The first State aid program evaluated under Section 4.4 of the Climate, Environmental Protection, and Energy 2022 (CEEAG) is this French initiative, which promotes resource efficiency and the shift to a circular economy.
