Dozens of financial institutions with $6.8tr of assets under management are calling on the petrochemicals sector to step up in the fight to tackle plastic pollution and transition to “safe and environmentally sound” principles.

Seventy financial institutions have signed a collective statement organised by financial think tank Planet Tracker, which commits them to requesting that companies they invest in that produce plastic polymers disclose their environmental impacts and set targets for transitioning to more sustainable forms of plastic production.

The investors are also calling on companies to phase out toxic polymers and chemicals, establish dedicated governance and accountability measures at the Board level to ensure sustainability commitments are honoured, and link management compensation to circularity and resource efficiency goals.

Legal & General Investment Management, Robeco, Abrdn, Rockefeller Asset Management, Rathbones Group Plc, and Storebrand Asset Management are among the investors that have said they will step up pressure on petrochemicals

Keep reading this article on Business Green - Incisive Business Media (IP).

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