Over 3000 companies disclose plastic usage data ahead of Plastics Treaty negotiations

Through the Carbon Disclosure Project (CDP), over 3,162 companies, including Unilever, Sumitomo Chemical and Johnson & Johnson have disclosed details of their plastic production, use and disposal.

The disclosures focus on the most problematic plastics for the environment, and mark the first time such an attempt at transparency has been made by a group of major brand owners.

In addition, 48 financial institutions have signed an open letter to governments calling for the inclusion of a mandatory corporate disclosure to be included in the Global Plastics Treaty, which is under discussion this week in Nairobi.

More than 175 nations have agreed to develop and sign the treaty, which is being pioneered by the UN Environment Programme. The criteria for the proposed treaty are still being agreed upon, and the talks in Nairobi this week mark the third of five planned meetings to hammer out an agreement.

One of the options that could make it into the criteria, is mandatory corporate disclosure of plastic production, use and disposal. It is hoped that the willingness of industry to participate in transparent reporting will encourage governments discussing the

The companies disclosing to the CDP this year were asked to report on the most problematic plastics, including durable plastics and plastic packaging.

“It is promising to see mandatory corporate plastic disclosure on the negotiating table for the Global Plastics Treaty,” said Pietro Bertazzi, global director for policy engagement and external affairs at CDP. “Disclosure is vital for tracking toward Treaty aims, but it must be made mandatory to be effective. Mandatory disclosure can prevent loopholes and ensure policymakers have access to the insight they need to develop impactful, evidence-based policies that drive private sector action.

“It also creates a level playing field for companies in today’s highly competitive business environment, enabling them to understand their impacts in terms of plastic pollution, the risks they face, the opportunities available to them, and where to take action.”

Adam Black, Head of ESG & Sustainability at Coller Capital said: “There is value in understanding the risks and opportunities associated with companies’ plastic footprints. We believe that plastic-related disclosure will enhance investment decision-making and make for more informed post-investment engagement. We are proud to support this important initiative from our perspective in private markets.”

The 48 financial institutions are calling for the transparency in order that they can, in the future, access comparable information on plastics use from the companies they finance.

“More than 3,000 companies disclosing their plastic-related information through CDP is a powerful step in the right direction toward a world where action on plastic pollution and waste is business as usual”, Bertazzi added.

“However, voluntary action alone is not enough. With plastic consumption increasing and greenhouse gas emissions from plastic production expected to double by 2060, companies must be transparent and held to account for their contributions to plastic pollution and waste.”