From climate target to cost trap

Despite ambitious climate targets, the market penetration of bio-based plastics in the UK remains low. The existing levy and tax systems have so far created hardly any incentives to make biogenic alternatives competitive with fossil plastics. On the contrary, uncoordinated regulations are creating new market distortions that slow down rather than promote sustainable innovation. The report "Fixing fossil market failures: the impact of UK taxes on bio-based plastics" by BB-REG-NET explains what reforms would be needed to actually accelerate the transformation to a circular economy.