Twenty firms produce 55pc of world’s plastic waste

Twenty companies are responsible for producing more than half of all the single-use plastic waste in the world, fuelling the climate crisis and creating an environmental catastrophe, new research reveals.

Among the global businesses responsible for 55 percent of the world's plastic packaging waste are both state-owned and multinational corporations, including oil and gas giants and chemical companies, according to a comprehensive new analysis.

The Plastic Waste Makers index reveals for the first time the companies who produce the polymers that become throwaway plastic items, from face masks to plastic bags and bottles, which at the end of their short life pollute the oceans or are burned or thrown into landfill.

It also reveals Australia leads a list of countries for generating the most single-use plastic waste on a per capita basis, ahead of the United States, South Korea and Britain.

ExxonMobil is the greatest single-use plastic waste polluter in the world, contributing 5.9m tonnes to the global waste mountain, concludes the analysis by partners including Wood Mackenzie, the London School of Economics and Stockholm Environment Institute. The largest chemicals company in the world, Dow, which is based in the US, created 5.5m tonnes of plastic waste, while China's oil and gas enterprise, Sinopec, created 5.3m tonnes.

Eleven of the companies are based in Asia, four in Europe, three in North America, one in Latin America, and one in the Middle East. Their plastic production is funded by leading banks, chief among which are Barclays, HSBC, Bank of America, Citigroup and JPMorgan Chase.

The enormous plastic waste footprint of the top 20 global companies amounts to more than half of the 130m metric tonnes of single-use plastic thrown away in 2019, the analysis says.

Single-use plastics are made almost exclusively from fossil fuels, driving the climate crisis, and because they are some of the hardest items to recycle, they end up creating global waste mountains. Just 10%-15% of single-use plastic is recycled globally each year.

The report said the plastics industry across the world had been allowed to operate with minimal regulation for decades.  By 2050 plastic is expected to account for 5%-10% of greenhouse gas emissions.