The plastic oligarchy: only 7 countries and 18 companies dominate its production

Geneva, Aug 7 (EFE) - Seven countries control two-thirds of global plastic production, and just 18 companies monopolize more than half of it, reveals a study published during the current UN negotiations to reach a treaty against pollution generated by this material.

The seven countries are China (with 34% of global production), the United States (13%), Saudi Arabia, South Korea, India, and Japan, according to the study published by Zero Carbon Analytics, a firm specializing in research on the industrial impact of climate change and other environmental issues.

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Some of these nations, such as the United States, Saudi Arabia, and India, have been reluctant in the negotiations to include production reduction quotas in the treaty, arguing that this sector is essential to their economies.

Chinese oil company Sinopec leads the way

The list of companies is led by the Chinese oil company Sinopec, with 5.4% of global production, followed by the US company ExxonMobil (5%), LyondellBasell (with Dutch and US capital and a 4.5% share) and Saudi Aramco (4.3%).

Other giants such as the American company Dow, the Chinese company Petrochina, the European company INEOS, and the Indian company Reliance Industries also appear at the top of the list, where the presence of Brazilian companies (Braskem), Taiwanese companies (Formosa Plastics, Far Eastern New Century), Thai companies (Indorama), and the French oil company Total are also notable.

The study notes that the top 15 plastic-producing countries offered $26.4 billion in subsidies for raw materials used in plastic manufacturing (derived from crude oil such as naphtha, ethane, and propane), and only three of them (China, Saudi Arabia, and Germany) accounted for 80% of this aid.

Majority of countries in favor of a treaty

As many as 96 of the 180 countries present at the Geneva negotiations support a treaty that would involve production cuts, but a small number of oil and industrial powers oppose it so far, pending the conclusion of the negotiations on August 14.

The UN Environment Programme (UNEP), the negotiator, warns that without changes, global plastic consumption could triple by 2060, and the production of plastic waste in nature is expected to increase by 50% by 2040.

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The planet currently produces 460 million tons of plastic per year, half of which is in single-use products, and less than 10% of the waste generated is recycled. As a result, much of this waste, transformed into microplastics and nanoplastics, ends up in the oceans and, from there, in the food chain.

The negotiations are being conducted on the basis of a draft that, at the start of the current round, still had up to 300 points that had not been agreed upon by the states.