Q3 2023 packaging data shows strong performance against most materials

The Q3 unverified recycling figures released by the Environment Agency indicate another strong performance quarter.
The table below shows recycling evidence requirements for 2023. It also shows the carry in tonnage reported earlier in the year from 2022. Carry in is the number of PRNs produced in December 2022 that are issued for 2023 use.
This gives us a net obligation for 2023. We can then see the Q1 and Q2 verified and Q3 unverified data for 2023. Although Q3 is not a record quarter, it is still a strong performing one, and the correction in PRN pricing across many materials has not caused a massive reduction in PRN generation.

What does this mean for producers?
The unverified Q3 2023 data has benefited from the ongoing strong performance of the recycling industry, which started in Q4 2022. Looking forward, the industry now needs to continue to perform well throughout the year to produce enough PRNs in 2023. The challenge may come not from the strong performance of recycling, but in any uplift in obligation from late submission by producers.
Aluminium - Medium risk

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