Daily Update: Recycled Plastics; Global Trade Data; and Russian Private Equity
Today is Thursday, April 24, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
The US recycled plastics portfolio is expanding, driven by goals to increase use of postconsumer resin plastic in packaging, but significant challenges remain. High costs and the limited availability of quality postconsumer resin are hindering producers, while materials recovery facilities are struggling with low demand and pricing volatility. A report from the U.S. Plastics Pact advocates for bold policy and proactive market actions to increase the level of recycled plastics in packaging.
Legislative measures are essential to ensuring consistent demand for recycled materials, and the US Plastics Pact said long-term purchase contracts could stabilize the market. However, buyers remain hesitant to commit and are opting for informal transactions. Amid federal policy uncertainties, state-led initiatives such as extended producer responsibility programs are vital for improving collection rates and accountability. As of April 2025, five states have enacted extended producer responsibility laws, indicating progress in the recycled plastics landscape.
Global Trade
In this episode of “The Decisive” podcast, host Kristen Hallam dives into the intricacies of PIERS, S&P Global Market Intelligence’s dataset of import-export bills of lading, with Brendan Neary, product manager in S&P Global Market Intelligence's trade portfolio.
Together, they explore the evolution and historical significance of PIERS and the vital role the dataset plays in understanding global trade flows. Neary explains how the dataset has adapted to modern challenges, including the effect of tariffs and supply chain disruptions, how various industries leverage PIERS data for procurement, compliance and market analysis, and the challenges users face in interpreting this complex dataset.
Private Markets
Following Western sanctions imposed after the Russia-Ukraine War, Russia's private equity and venture capital industry has turned to alternative capital raising methods due to the exit of international investors. With minimal foreign investment and domestic family offices scaling back, investors are focused on the safer returns offered by the Bank of Russia’s high key interest rate of 21%. In 2024, Russian venture capital funds raised $177 million, a slight increase from $84 million in 2023 but far below the $2.4 billion raised in 2021.
To adapt, private capital firms are shifting strategies, employing a dividend model to reduce investment risk by targeting companies expected to break even quickly. There is also a growing influx of retail investors, including business angels, particularly in early-stage ventures. Investment platforms created by Russian banks are competing with traditional venture funds, while crowdfunding is increasingly used to finance small and medium-sized businesses.
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