Majority of Phillips 66 Shareholders Support Studying Shift Away From Virgin and Single-Use Plastics
Posted on May 25, 2022 by DrRossH in Plastic Waste News
A first-of-its-kind shareholder resolution challenging a major petrochemical company on plastics production received majority support (50.4%) from Phillips 66 shareholders at the company’s annual meeting last week.
The resolution requests that Phillips 66 publish a report describing how it could shift its plastic production business from virgin to recycled plastic polymers, assess the resilience of its petrochemical assets under virgin-to-recycled transition scenarios of five and 10 years, and study the financial risks associated with such scenarios.
Phillips 66 is the joint owner of Chevron Phillips Chemical Company (CPChem), the 15th largest global producer of virgin plastic resins bound for single-use applications.

How many people today grab a takeaway coffee cup from the local cafe to drink on the go? We don’t know, but the number must be enormous.. Most every one of the above have a plastic top that will last 100s of years. Some cafes still use plastic cups that last a similar time. Is 10 minutes of coffee worth 100s of years of trash?
These items can be seen littering our gutters and on our streets all over the place. If they were all cardboard, they would still be littered, but they would, at least, be gone in a short time.
They do not need to be made of plastic.
On the way home from the gym last week, a distance of about 1 km (1/2 mile), I counted the items of plastic litter on the curb as I walked. In that short distance I counted 63 pieces of plastic litter. Plastic drink bottles, bottle tops, candy wrappers, plastic film, polystyrene fragments etc. That seemed to be a lot to me. I guess it is a generational thing. Our parents would have been horrified to see that amount, whereas it seems to go unnoticed by our youth of today. In another 20 years how many pieces will there be on this stretch, -- 200? What will today’s youth think of that new amount then when they are older? Will their children be so readily accepting of a higher amount of litter?
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