By Faridat Salifu
Recent data released by CDP highlights a concerning trend: the majority of companies are falling short in addressing plastic pollution within their value chains.
The findings, derived from disclosures by nearly 3,000 companies spanning various sectors and regions, underscore a critical gap in corporate awareness and action regarding plastic-related risks.
While some progress has been made, with 42% of companies mapping their plastic usage in 2023, significant gaps remain:
– Only 21% of companies are aware of the risks associated with their plastic-related activities.
– A staggering 70% have yet to map the environmental and health impacts of their plastic-related actions.
– Similarly, 64% have not set targets for managing their plastic-related impacts, such as plastic usage and waste management.
These findings are particularly concerning given the tangible risks faced by high-impact companies, including supply chain disruptions, regulatory risks, and waste management fees.
Moreover, with over half of G20 countries already implementing plastic-related legislation, the urgency for corporate action is clear.
While some companies plan to take action in the coming years, the need for greater visibility and accountability in managing plastic footprints is paramount.
Nathan Cole, CDP’s Head of Sustainable Business, emphasizes the importance of actionable data to drive corporate progress and global efforts to reduce plastic pollution.
In response to these findings, governments are urged to capitalize on the upcoming Global Plastics Treaty negotiations to mandate corporate disclosure on plastics.
This initiative, supported by partners such as The Ellen MacArthur Foundation and WWF, aims to create an enabling environment for companies to accelerate action on plastic pollution.
As plastic usage continues to rise, the need for urgent and comprehensive action is undeniable.
Through mandatory corporate disclosure and collective efforts, stakeholders can work towards effectively addressing the most pressing challenges posed by plastic pollution.
