Galaxy Surfactants Sets Ambitious Sustainability Goal: 50% Recycled Plastics in Packaging by 2026

Galaxy Surfactants Ltd., among the world's leading performance and specialty chemicals companies, is making significant progress in sustainability by incorporating recycled plastics in its industrial packaging materials. Reinforcing its dedication to sustainability and environmental stewardship.

This ambitious goal is part of Galaxy's broader circular economy initiative, designed to reduce plastic, recycle plastic, conserve environmental resources, and promote sustainable practices throughout the industry. Introducing Post Consumer Resin (PCR) in big size industrial packaging is a technological challenge. Add to that availability of desired quality of PCR is an uphill task due to lack of availability & segregation issues. As Galaxy products go into personal care application, extreme care is required to avoid contamination when products comes in contact with the packaging. Galaxy has worked with supply partners & devised a novel technique to address contamination problems at the same time making the packaging sustainable.

Galaxy's shift towards sustainable packaging solution has resulted in a notable reduction & reuse of over 37,000 Kg plastic, contributing to a decrease of 113,067, Kg CO2e in its carbon footprint in last 3 years. This achievement underscores the company's commitment to minimizing its environmental impact.

Plastic waste is a global challenge, with millions of tons discarded each year, posing severe threats to ecosystems and communities. Galaxy's circular economy approach focuses on reducing waste, reusing materials, and minimizing the demand for new plastic production. By collaborating with vendors and re-processors, they are developing innovative solutions to enhance sustainability.

Mr. Avinash Nandanwar, Head of Sourcing and Sustainability at Galaxy Surfactants Ltd, stated, "As a responsible player in the chemical industry, we recognize our role in addressing the environmental challenges posed by plastic waste. Our commitment to integrating recycled plastics into our packaging is a significant step towards building a more sustainable future."

Shares of Galaxy Surfactants Limited was last trading in BSE at Rs. 2202.45 as compared to the previous close of Rs. 2198.40. The total number of shares traded during the day was 1130 in over 281 trades.

The stock hit an intraday high of Rs. 2225.00 and intraday low of 2181.25. The net turnover during the day was Rs. 2491635.00.

Source : Equity Bulls

Keywords

GalaxySurfactants INE600K01018 SpecialtyChemicals SustainabilityGoal RecycledPlastics Packaging