Paper looks at risks of investing in plastics AustraliaPosted on April 15, 2021 by DrRossH in Plastic Waste News, Switching Away from Plastic
“In the face of crises like climate change and global plastic pollution, shareholders must scrutinise whether investments in the production of plastics and other petrochemicals will live up to inflated expectations,” said Lila Holzman, report coauthor and senior energy program manager at As You Sow. “Investors are likely to find that companies’ reliance on plastics to recoup lost demand for fossil-based energy is problematic.”
This report reveals how the proliferation of petrochemical infrastructure contributes to distinct risks that threaten shareholder value. The report examines the growing risks facing the energy sector’s bet on petrochemicals (especially plastics) — including stranded assets, climate change impacts, plastic pollution of land and oceans, greenwashing of “circular” solutions, community health impacts, and a loss of social license to operate, as well as the oversupply of plastic production capacity.
As we have been saying for years, the concept of a circular economy just can’t happen to any big degree on single use plastics. There is too much being made. We’ve tried recycling in earnest several times before in the last 40 years, and it never worked. We still only recycle 10-15%. Recycling is myth promulgated by the plastics industry to make people think it is ok to use more plastic as it is getting recycled. But it is not and the industry knows that. Serious action is need to reduce plastic use. Not waste more money of the recycling myth.