Mikaila Adams
Editor-News
Petrochemicals are being eyed as a growth market as demand for gasoline and diesel for cars is forecast to wane. Oil companies are turning their attention to plastic waste.
In January, Alliance to End Plastic Waste was created to advance solutions to help end plastic waste in the environment. Together, member companies committed more than $1 billion with the goal of investing $1.5 billion over the next 5 years to develop and bring to scale solutions that will minimize and manage plastic waste and promote solutions for used plastics by helping to enable a circular economy.
“By contributing to the lightening of materials, plastics improve the energy efficiency of our everyday products and reduce our carbon dioxide emissions. However, it is critical to improve the management of their end-of-life to ensure that they do not end up in the environment, said Bernard Pinatel, Total SA president, refining and chemicals, and member of the alliance’s executive committee.
Founding members are: BASF AG, Berry Global, Braskem, Chevron Phillips Chemical Co. LLC, Clariant, Covestro, Dow, DSM, ExxonMobil Corp., Formosa Plastics Corp. USA, Henkel, LyondellBasell, Mitsubishi Chemical Holdings, Mitsui Chemicals, NOVA Chemicals, OxyChem, PolyOne, Procter & Gamble, Reliance Industries, SABIC, Sasol, Suez, Shell, SCG Chemicals, Sumitomo Chemical, Total, Veolia, and Versalis (Eni).
