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News > Global environmental current affairs > Research reveals for the first time that global 55% plastic waste comes from 20 petrochemical giants

Research reveals for the first time that global 55% plastic waste comes from 20 petrochemical giants

2021-06-21

The Guardian reports that according to a new study, "The Plastic Waste Makers Index," 20 companies—both state-owned and multinational, including oil and gas giants and chemical giants—produce 55% of the world's single-use plastic waste, exacerbating the climate crisis and causing environmental disasters. The study, a collaboration between the Minderoo Foundation in Australia, Wood Mackenzie, the London School of Economics, and the Stockholm Environment Institute, reveals for the first time the companies that produce the most polymers. These polymers are used to make single-use plastic products like masks, plastic bags, and PET bottles, which quickly end up polluting oceans, being incinerated, or ending up in landfills. The report also reveals that Australia is the largest per capita producer of single-use plastic waste, ahead of the United States, South Korea, and the United Kingdom. ExxonMobil is the world's largest producer of single-use plastic waste, contributing 5.9 million tons globally. Dow, the world's largest chemical company, headquartered in the United States, generated 5.5 million tons of plastic waste, while Sinopec, a Chinese oil and gas company, produced 5.3 million tons. Eleven of these companies are located in Asia, four in Europe, three in North America, one in Latin America, and one in the Middle East. Their plastic production is financed by top global banks, including Barclays, HSBC, Bank of America, Citigroup, and JPMorgan Chase. An analysis indicates that more than half of the 130 million metric tons of single-use plastic waste discarded in 2019 came from these top 20 companies. Source: Environmental Information Center

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