This report provides a clear action plan, endorsed by over 40 industry leaders, for the global plastics industry to design better packaging, increase recycling rates, and introduce new models for making better use of packaging. These three strategies aim to increase reuse and recycling of plastic packaging to 70%, from the current rate of 14%. The three strategies are explained in terms of their potential impact: 1. Without fundamental redesign and innovation, about 30% of plastic packaging will never be reused or recycled; 2. For at least 20% of plastic packaging, reuse provides an economically attractive opportunity; and 3. With concerted efforts to redesign packaging and the systems for managing it after use, recycling would be economically attractive for the remaining 50% of plastic packaging.