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As global temperatures rise and governments implement decarbonization policies, the fossil fuel industry is pushing for a major expansion in the production of plastic and petrochemical products. The unchecked expansion of petrochemicals would be devastating for the environment, climate, and human health. The financial sector plays a crucial role in enabling or limiting this damage.
Consumers are increasingly aware of the harm caused by petrochemicals and are pushing for smarter, safer alternatives. Faced with overproduction, a stricter regulatory regime, and emerging litigation, the market for plastic and petrochemicals has become increasingly risky, and profits are less dependable.
Developed in partnership with policy and financial experts as well as communities directly impacted by petrochemical production, Exiting Petrochemicals: A Policy Guide for Financial Institutions serves as a roadmap for responsibly exiting the sector and remedying harms.
The report was written by Friends of the Earth, Break Free from Plastic, the Center for International Environmental Law, and Texas Campaign for the Environment.
