An analysis of 83 of the world's biggest publicly traded plastic packaging firms has found that almost two-thirds report no policies on sustainability-related topics like waste or carbon.
Many PC&P formats are hard-to-recycle, including black plastics and flexible films (pictured)
Produced by non-profit think-tank Planet Tracker, the 'unwrapping investor risk' report concludes that the global plastic containers and packaging (PC&P) sector is “at an inflexion point”, whereby it will only continue to be financially successful if it moves towards more sustainable products and processes.
It analyses the company filings and corporate websites of 83 firms in this field, all publicly listed. Each company draws at least 10% of its total annual revenue from PC&P and reports revenue of $100m and above. Collectively, the firms analysed represent annual revenues of $54bn.
The report reveals that 53 of these firms detail no policies on environmental topics through these channels, with many failing to even keep pace with changing legislation on plastics and recycling. Here in the UK, for example, plastic packaging with less than 30% recycled content will soon be taxed, and all unavoidable plastic waste must be phased out by 2042.
Planet Tracker believes that the potential risks of inaction on legislation and environmental risks will affect the biggest players the most.