Why this statement:

Update: In the run-up to the Plastics Treaty negotiations (INC 5.2) from 5-14 of August we invite more investors to support the investor statement - already signed by over 80 investors - to provide an even stronger message to the Treaty negotiations and the key companies in the industry. We also encourage banks to support!  

Petrochemical companies are a major contributor to plastic production, increasing the threat of plastic pollution, climate change, biodiversity loss and human health impacts. However, during the latest round of the UN led Plastics Treaty negotiations petrochemical companies have opposed any amendments to address production to curb plastic pollution and pushed back against the inclusion of any suggested proposals to address polymer production within the treaty.

This bears risks for investors. Plastics production is due to triple by 2060 with lifecycle greenhouse gas emissions due to double, contributing to 4.5% of global emissions. To align with the Paris Agreement petrochemical companies must transition. Additionally, emerging evidence links toxic chemicals present in plastics to a variety of health issues. In the USA alone, exposure to just three common plastic chemicals amounted to USD 675 billion in health costs in 2015. As plastic polymer production continues to surge, the threat looms larger. To manage the resulting financial risks, we now ask investors to join a call on petrochemical companies to reduce fossil fuel dependency and eliminate hazardous chemicals in plastics.