Exposing the financial risk in oil lobby’s gamble on plasticsFinance
Plastics is the biggest driver of future oil demand – accounting for 95% of growth to 2040 in BP’s central scenario. But each tonne of plastic releases twice as much CO2 as producing a tonne of oil. If current growth rates continue, the carbon footprint of plastics could double by 2050 to 3.5 Gigatonnes, contradicting Paris Agreement goals.
Launched The Future’s Not In Plastics, warning investors and governments that the oil industry is unwise to pin its hopes for future growth on plastics demand, which will not materialise as the world tackles plastic waste. The report warns that plans to invest $400 billion in the next five years to expand supply for virgin plastics by a quarter could result in stranded assets.
Delivered extensive global media coverage of the report, with more than 350 articles in total across 20 countries. Highlights included news agencies AFP, PA, EFE, The Guardian, Daily Telegraph, Independent, Forbes, Tageszeitung (Germany), France 24 (France), and Vox (US).
A successful launch communicated the powerful case against throwing weight behind the plastics industry. We secured significant coverage in key markets including the US and Europe.