Plastics
More and more plastics are being produced each year, posing significant dangers to global ecosystems, economies, and communities. Greater visibility of plastic footprints, through robust corporate disclosure, is essential for providing a foundation for companies to transition their business models from linear to circular.
Through CDP, companies and capital markets can measure their plastics-related impacts to better manage risks and opportunities, transparently disclose the total weight and raw material content of their plastic products, and demonstrate progress towards timebound, measurable targets.
The global context
metric tons of plastic waste enter the ocean each year, harming marine life and damaging habitats.
of global emissions will be a result of single-use plastic production by 2050, if current rates continue.
of companies say plastic was a relevant issue, yet 32.5% of companies say they did not have plastic-related targets.
The risks
There are more than 16,000 chemicals present in plastics, and at least 4,200 of these chemicals (26%) are of concern because of their significant hazards to human health and the environment. Companies face a US$100 billion annual financial risk if governments require them to cover waste management costs at expected volumes and recyclability.
Despite this growing list of concerns, many companies still have a limited understanding of their plastics-related risk exposure and how they contribute to the plastics crisis.
The opportunities
A large, growing number of investors and customers expect companies to respond and adapt to plastics-related impacts.
Converting 20% of plastic packaging into reuse models is a US$10 billion business opportunity that benefits businesses and customers.
Innovative sustainable materials may disrupt markets and replace traditional plastics. To remain competitive, companies must learn how to do harness these innovations and stay ahead of the curb.
Companies can drive change faster than governments and it's in their direct business interest to act.