No Time To Lose In The Fight Against Plastic Pollution

Currently less than 10% of all plastic products are recycled. A Reuters survey last year showed that the new recycling technologies touted by the plastics industry were struggling to address the problem.

Meanwhile, plastic production from oil and gas is expected to double within 20 years, a key source of future revenue for energy giants as demand for fossil fuels declines with the rise of renewable energy and electric vehicles.

A 2020 study by the Pew Charitable Trusts (Pew) found that while scaling up global recycling is crucial to tackling the plastic waste problem, these efforts will not stop plastic pollution from continuing to surge if production is not restricted.

It is worth noting that many of the internationally renowned brands that have signed the joint statement are themselves "major producers" of plastic waste.

"Coca-Cola, Pepsi and Unilever were among the top three in the latest corporate plastic pollution assessment released by Break Free From Plastic in October last year. For the fourth year in a row, Coca-Cola topped the list.

A Reuters survey last year found that as companies selling hard-to-recycle plastic products face increasing pressure to dispose of the resulting waste, some have partnered with cement producers to burn plastic waste as cheap fuel in cement kilns in developing countries.