That's the requirement to report the production of plastic products by plastics manufacturers, not a requirement for companies to recycle.

It does say retailers (why is it limited only to retail companies?) will be incentivized to recycle. But it doesn't say there any requirement to do so.

Also this article is typical in that it only gives the highest level overview of what the concept is, and doesn't provide any details on how companies would be held accountable.

It also doesn't mention whether there are or will be any exceptions made to these rules for the big companies. Billionaire business owners love lobbying for exceptions, and politicians love giving them out, because they can point to the regulations the made and tell citizens what a great job they're doing while still pleasing their ~~masters~~ donors.