In Geneva last month 180 countries agreed to limit the export of used plastics worldwide, in practice by requiring the agreement of the receiving state before export. For decades developed countries have been exporting plastic and toxic waste to Asia, claiming it will be recycled but in reality a significant proportion of it was buried due to contamination, incinerated or found on the ocean floor.
ESG News
The European Green Wave
The environment may have been the real winner of the European elections last week.
Overall the centre has been squeezed, resulting in a high degree of fragmentation: populist parties won in Italy, the United Kingdom and France while voters were also seen to swing from the centre to the Greens and Liberals. 69 Green Party MEPs were voted into the European Parliament, a growth of 40% since the last election and to a 9% position. This has secured enough seats to make itself a valuable partner in any pro-EU functioning coalition.
The War on Plastic could affect oil demand more than expected
A war is being waged on plastics. Recent documentaries such as David Attenborough’s Blue Planet Series have highlighted the potential damage caused to sea and ocean life, the huge collection of it on the shore of global beaches and the environmental damage of its incineration.