📢 70 international financial institutions representing assets worth USD 6.8 trillion are calling on petrochemical companies to address plastic pollution issues. Petrochemical companies are a major contributor to plastic production, which is forecast to triple by 2060, meaning petrochemical companies will become the primary driver of oil demand growth. As the plastic pollution crisis mounts and demands for a Global Plastics Treaty grow, petrochemical companies have stalled progress in negotiations by: 1. Resisting calls to include the full life cycle of plastics 2. Opposing the reduction of plastic production 3. Opposing the inclusion of polymer production in the treaty Petrochemical companies are exposed to significant plastics-related risks, which are financially material for corporates and their investors. Therefore, the collective Investor Statement requests petrochemical companies to: ➡ Disclose and define strategies ➡ Address toxic polymers and chemicals ➡ Develop sustainable infrastructure ➡ Establish governance ➡ Support international agreements Read the Investor Statement here: 👉 https://lnkd.in/dUrhB9fB #BeatPlasticPollution #GlobalPlasticsTreaty #PlasticPollution #Petrochemicals #ToxicChemicals #FossilFuels #INC4 #PlasticRisk #UpstreamSolutions #ClimateChange #Stewardship #ResponsibleInvestors
Planet Tracker
Think Tanks
London, England 7,101 followers
Planet Tracker is a non-profit financial think tank aligning financial markets with a sustainable future.
About us
Planet Tracker combines the expertise of financial market professionals with environment, industry and scientific experts, speaking about ecological limits in a language that the financial community understands.
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https://planet-tracker.org
External link for Planet Tracker
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- Think Tanks
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- 11-50 employees
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- London, England
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- Nonprofit
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6 Langley Street
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London, England WC2H 9JA, GB
Employees at Planet Tracker
Updates
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💧 To mark #WorldWaterWeek Planet Tracker delves into AI’s water dependency. AI’s growth requires data centres, and these need water. This is exacerbating water stress; for instance, nearly 40% of all data centres are in the USA, of which one third are in areas of high or extremely high water stress (see infographic below). As the IT industry grapples with this challenge, could AI itself provide the solution and overcome the planet’s water limits? Full blog 👉 https://lnkd.in/evEH7_6s #AI #ArtificialIntelligence #WaterStress #water #datacenter
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Why does the US’s endorsement of including plastic production controls in the #GlobalPlasticsTreaty signal a major policy shift? ➡ The US is one of the world’s largest plastic producers ➡ Globally, the US produces the most plastic waste per capita ➡ To date it’s aligned with China and Saudi Arabia in resisting the inclusion of plastic production controls ➡ 6 of the world’s major petrochemical companies producing plastic polymers are American These companies - Chevron, Dow, ExxonMobil, LyondellBasell, Phillips 66, and Westlake – and 44 others are being called by 73 financial institutions, representing assets worth USD 6.8 trillion to address plastic pollution issues. Learn more about the Investor Statement 👉 https://lnkd.in/dUrhB9fB #BeatPlasticPollution #GlobalPlasticsTreaty #Petrochemicals
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Planet Tracker reposted this
Our report “Climate meets nature” produced together with Planet Tracker lays out practical strategies and considerations to help investors minimize their impact on nature when developing solar, wind and bioenergy solutions. Read more at https://from.ubs/6041lxvfl #ShareUBS
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🧠 Microplastics have been found in the human brain, The Guardian reports. This discovery adds to the growing number of studies finding microplastics in the human body, where scientists have previously observed their accumulation in: ⚠ Bone marrow ⚠ Reproductive organs ⚠ Livers ⚠ Kidneys ⚠ Placentas Out of the 16,000 chemicals present in plastics, over 4,000 are identified as toxic and are associated with diabetes, obesity, fertility issues and various cancers. Hence why 73 financial institutions, representing assets worth USD 6.8 trillion, are calling on petrochemical companies producing plastic polymers to address polymers and chemicals of concern in their products. Learn more about the Statement 👉 https://lnkd.in/dUrhB9fB Guardian article 👉 https://lnkd.in/g7qUe_Wp #BeatPlasticPollution #GlobalPlasticsTreaty #Microplastics
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🐟 As climate change forces tuna to migrate, African coastal states could become new fishing grounds for the Chinese distant-water fleet. 🎣 Since these waters are already exploited by EU vessels, avoiding increased overexploitation is crucial. Swipe to find out how African states could prevent this. Learn more in ‘Fishful Thinking’: 👉 https://lnkd.in/dUdqKbDX Explore the fleet: 👉 https://lnkd.in/eC9dwDjy #ClimateChange #Sustainability #TunaFishing #AfricanCoastalStates #SustainableFishing
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📢 Planet Tracker’s updated Nature Scorecard now includes over 1,000 companies. By identifying the companies perceived by financial institutions as influential in terms of nature and biodiversity, the Scorecard aims to empower stakeholders with the information needed to protect and enhance our planet's vital natural resources. The ‘biocrastination’ needs to stop. Learn more about the update: 👉 https://lnkd.in/e9dgt4mz View the interactive dashboard here: 👉 https://lnkd.in/eRC_6rn9 #Biocrastination #ResponsibleInvestment #Stewardship #ESG #Nature
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Disappointing to see another greenwashing ad from Shell (https://lnkd.in/ermQQhG9). Shell is positioning itself as a ‘good actor’ in the climate emergency via their latest advertising campaign on the #energy transition. This is despite Shell ➡ Weakening previous climate commitments ➡ Effectively dropping the pledge to reduce oil production by 2030 ➡ Planning to grow LNG by 20-30% by 2030 [vs 2022] 🔍 Planet Tracker identifies this as a classic case of ‘greenlighting’. See Greenwashing Hydra report for more on how companies are becoming increasingly sophisticated in their #greenwashing strategies. Advertising giants such as WPP and Havas continue to work with Shell – see From Adversity to Advantage. We call on the advertising industry to stop helping clients such as Shell to greenwash. Greenwashing report: 👉 https://lnkd.in/eiU44UBa Advertising industry report: 👉 https://lnkd.in/ekpNrEnz Shell reports: 👉 https://lnkd.in/e-9x_7AA and https://lnkd.in/ep9BMYcS
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Delighted to announce Downing, radicant bank and Raiffeisen Switzerland have joined 70 other international financial institutions representing assets worth USD 6.8 trillion in calling on petrochemical companies to address plastic pollution issues. Petrochemical companies are exposed to significant plastics-related risks, which are financially material for corporates and their investors. Therefore, the collective Investor Statement requests petrochemical companies to: ➡ Disclose and define strategies ➡ Address toxic polymers and chemicals ➡ Develop sustainable infrastructure ➡ Establish governance ➡ Support international agreements Read the Investor Statement here: 👉 https://lnkd.in/dUrhB9fB #BeatPlasticPollution #GlobalPlasticsTreaty #PlasticPollution #Petrochemicals #ToxicChemicals #FossilFuels #INC4 #PlasticRisk #UpstreamSolutions #ClimateChange #Stewardship #ResponsibleInvestors
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🔍 The US Environmental Protection Agency (EPA) has announced it is examining the supply chains of biofuel producers. At least two renewable fuel producers may be using virgin palm oil labelled as used cooking oil, Reuters reports. 📖 ‘Climate Meets Nature’, UBS and Planet Tracker’s practical guide for industry practitioners on integrating nature into the global energy transition, identifies such practice as one of the main risks for financiers to be aware of. Notably, “the traceability and transparency in second generation bioenergy supply chains, including procurement policies and practices”. See ‘Engagement questions for minimising natural capital impacts on second generation bioenergy’ – page 61 in text and page 65 in PDF format: 👉 https://lnkd.in/eXa6_FiQ Full Reuters article: 👉 https://lnkd.in/eM9q3JrP #ClimateMeetsNature #Biofuels #GlobalEnergyTransition #SupplyChains #Traceability #Transparency #ClimateNatureNexus