OMV CEO says strict rules on plastic recycling could stifle innovation

OMV CEO Alfred Stern cautioned that strict regulations on plastic recycling could hinder innovation in the sector. Speaking at the World Economic Forum in Davos, he highlighted the challenge of new technologies competing against established petrochemical supply chains. Stern emphasized the need for financial incentives to improve collection and sorting systems, as OMV views recycling as a growth opportunity. The company is investing in significant recycling capacity and urged global treaty negotiators to consider regional differences and stop exporting waste, which should be treated as a valuable local resource.