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...“If the recycling does not work, the plastic will stay there for 500 years. Paper does not,” he said. The company said it expected the packaging to be certified as compostable by next year....
...It said it planned to buy a 10 per cent stake in the $15bn refiner Hengli Petrochemical, one of China’s leading producer of chemicals for plastics....
...An outstanding question is how to regulate polymers, which can be hazardous but are ubiquitous in products from clothing to plastic bags....
...The statement from McKee, who is also the chair of the International Council of Chemical Associations, which represents the largest petrochemical companies, drew an angry response from environmental campaigners...
...Exxon is leading a fightback by the petrochemicals industry against UN plans to limit the production of plastics....
...Adnoc declined to comment.At the heart of the matter is the complexity of the transaction and the cross-shareholdings between the companies’ chemicals arms....
...“Chemical manufacturing”, where heat and chemical processes in effect reduce plastics to their raw ingredients, is far less common, and has been dogged by concerns over pollution and energy use....
...The European Union has adopted a goal to cut plastic by targeting bags and coffee cups....
...MEPs also approved key planks of the EU’s climate legislation, including new rules on packaging waste that will outlaw single-use plastics and on due diligence rules for companies....
...The glut of virgin plastic presents a challenge to companies trying to reduce their reliance on single-use plastics in the face of stricter regulation and government pledges to reduce plastic waste pollution...
...The treaty owes its inception to European countries that wanted to protect investments in the former Soviet Union at the end of the cold war but more recently has been used by energy companies to challenge...
...on plastic production, chemicals in plastics, microplastics and single-use plastics, ahead of the April talks....
...In a vote on Wednesday, MEPs in Strasbourg approved a detailed law that could also ban all “ultra-light” plastic bags and harmful chemicals in packaging....
...Officials from the commission are also concerned that a late change to the definition for so-called post-consumer recycled plastic — plastic packaging that has been collected, cleaned and remade into something...
...competition from recycled materials from low-cost countries is already an industrial reality,” said Sophie Sicard-Lemaire, deputy director of sustainable development and institutional affairs at French recycling company...
...The latest moves could have an impact on Taiwan’s biggest petrochemical companies, including Formosa Plastics, which has a market value of $16.2bn, and state-owned CPC Corporation....
...While plastics are an important component of clean technologies, virtually all plastics are manufactured using chemicals derived from fossil fuels, and the material’s lack of biodegradability poses a threat...
...supply chains and new rules for recycling plastic packaging....
...New EU rules on the use and recycling of plastic packaging; bans on PFAS ‘forever chemicals’; increased obligations to monitor supply chains (were forests destroyed to make that palm oil?)...
...The German chemical company, which has been criticised for investing heavily into China while downsizing in Europe, on Friday said it would sell its shares in two plants making chemicals that go into elastic...
...Chemicals groups such as Eastman are planning facilities, while engineering and construction companies such as Maire Tecnimont run their own....
...One of the large palm-growing companies active in Indonesia, Socfin, has a holding company listed on the Luxembourg stock exchange....
...Plastic. They’re not reserved for emperors or gladiators....
...Arne Rautenberg, fund manager at Union Investment that holds less than 1 per cent of BASF’s shares, said Kamieth faced “enormous” challenges in his new job, as he would need to “secure [BASF’s] competitiveness...
...There was also growth of 5.7 per cent in carmaking and 4.6 per cent in chemicals as supply bottlenecks and energy price pressures eased....
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