Saudi Press

Saudi Arabia and the world
Thursday, Mar 28, 2024

Revealed: The 20 companies producing more than half of world's single-use plastic waste

Revealed: The 20 companies producing more than half of world's single-use plastic waste

The study looked at around 1,000 factories that make the raw materials needed to produce single-use products.

Production capacity for a key component of single-use plastics could grow by more than 30% over the next five years, a report has warned - as a list of companies come under fire for their contribution to the crisis.

The Plastic Waste Makers Index, published by the Australia-based philanthropic Minderoo Foundation, found that 20 energy and chemicals giants alone contribute to 55% of the world's single-use plastic.

Those include ExxonMobil, Dow, and Sinopec.

The study also looked at around 1,000 factories that make the raw materials needed to produce single-use plastics, revealing for the first time the companies at the bottom of the plastic supply chain that make polymers - which are the building blocks of all plastics.

In the next five years, global capacity to produce these polymers for single-use plastic products such as face masks, medical equipment, shopping bags, coffee cups and cling film could grow by more than 30% - and by as much as 400% for individual companies.
Advertisement

That's despite governments increasingly stressing the importance of tackling the climate crisis, to which the report says plastic is a major contributor.

More than 130 million metric tonnes of single-use plastic was thrown away in 2019, almost all of which is burned, buried in landfill, or discarded directly into the environment.

Of all the plastics, they are the most likely to end up in our ocean, where they account for almost all visible pollution, according to the report, and they contain chemical additives such as plasticisers that have been found in humans and are linked to a range of reproductive health problems.

If growth in single-use plastic production continues at current rates, they could account for 5-10% of the world's greenhouse gas emissions by 2050.


According to the report, the top 20 producers of single-use plastic in 2019 were:

1. ExxonMobil - 5.9%

2. Dow - 5.6%

3. Sinopec - 5.3%

4. Indorama Ventures - 4.6%

5. Saudi Aramco - 4.3%

6. PetroChina - 4%

7. LyondellBasell - 3.9%

8. Reliance Industries - 3.1%

9. Braskem - 3%

10. Alpek SA de CV - 2.3%

11. Borealis - 2.2%

12. Lotte Chemical - 2.1%

13. Ineos - 2%

14. Total - 1.9%

15. Jiangsu Hailun Petrochemical - 1.6%

16. Far Eastern New Century - 1.6%

17. Formosa Plastics Corporation - 1.6%

18. China Energy Investment Group - 1.5%

19. PTT - 1.5%

20. China Resources - 1.3%

The Minderoo Foundation is calling for petrochemicals companies to disclose their "plastic waste footprint" and begin producing plastics from recycled plastic waste rather than fossil fuels.

In emailed comments, ExxonMobil said it "shares society's concern about plastic waste and agrees it must be addressed", requiring a collaborative effort between business, governments, green groups and consumers.

It added that it was taking action to address plastic waste by increasing recyclability, as well as supporting efforts to recover more plastic waste and working on advanced recycling solutions that could help lower greenhouse gas emissions linked to products.

The report, developed with energy consultancy Wood Mackenzie and researchers at think tanks and universities, said nearly 60% of the commercial finance for the single-use plastic industry derives from 20 global banks that have loaned almost $30bn (£21bn) for polymer production since 2011.

The top three contributors are Barclays ($3.1bn), HSBC ($3.1bn), and Bank of America ($2.9bn).

The study also looked at which countries generate the most single-use plastic waste based on per head of population, with Australia ranking first.

The US was second and the UK came in fourth, with more than 40kg of plastic waste generated per person per year, according to the authors.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Reports in Gaza: 5 dead from the impact of aid packages dropped by the USA
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
×