A report has revealed the petrochemical companies behind 90 per cent of the world’s plastic waste, and the banks and financial institutions that fund them.
A report has revealed that 20 companies are responsible for producing 55 per cent of all single-use plastic waste generated globally, with ExxonMobil topping the list. The Plastic Waste Makers Index also identifies the banks and financial institutions that fund the production of single-use plastic, tens of millions of tonnes of which ends up as pollution each year. Much of the blame for single-use plastic pollution has tended to be laid at the door of well-known brands that use it in their products and packaging, but this new report sheds light on the petrochemical companies that are manufacturing the polymers that form single-use plastics, and the banks and financial institutions that are funding them. Al Gore, the former U.S. Vice President, said in a statement: “As awareness of the toll of plastic pollution has grown, the petrochemical industry has told us it’s our own fault and has directed attention toward behavior change from end-users of these products, rather than addressing the problem at its source.” The report found that 55 percent of the world’s plastic waste is produced by just 20 companies, with ExxonMobil, Dow, Sinopec, Indorama Ventures, and Saudi Aramco coming top. Since 2011,20 of the world’s largest banks have loaned an estimated US$30 billion for the production of polymers that make single-use plastic products, such as bags, bottles, plastic cutlery, straws, packaging and disposable face masks.
