Environment Who’s making — and funding — the world’s plastic trash?
ExxonMobil is the world’s single largest producer of single-use plastics, according to a new report published today by the Australia-based Minderoo Foundation, one of Asia’s biggest philanthropies.
The Dow Chemical Company ranks second, the report finds, with the Chinese state-owned company Sinopec coming in third. Indorama Ventures — a Thai company that entered the plastics market in 1995 — and Saudi Aramco, owned by the Saudi Arabian government, round out the top five.
Funding for single-use plastic production comes from major banks and from institutional asset managers. The UK-based Barclays and HSBC, and Bank of America are the top three lenders to single-use plastic projects, the new report finds. All three of the most heavily invested asset managers named by the report — Vanguard Group, BlackRock, and Capital Group — are U.S.-based.
Intellectual monopoly capitalism and its effects on development
What is new with contemporary (global) leading corporations? If gigantic monopolies are a repeated phenomenon in capitalism’s history, why all the fuss we see every day regarding high concentration?
Leading corporations of the 21st century are intellectual monopolies. These are firms that rely on a permanent and expanding monopoly over portions of society’s knowledge. A recent joint OECD and European Union report shows that the top 2000 corporations in business expenditure in research and development (BERD) concentrated 60% of total IP5 1 patents between 2014 and 2016 (Dernis et al., 2019).
Financing Border Wars
The border industry, its financiers and human rights.
This report seeks to explore and highlight the extent of today’s global border security industry, by focusing on the most important geographical markets—Australia, Europe, USA—listing the human rights violations and risks involved in each sector of the industry, profiling important corporate players and putting a spotlight on the key investors in each company.
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Why are fossil fuel investors in the green for 2021?
The clean energy trade seems overcrowded for now
So we have a consensus that there has to be a global transition to net zero carbon emissions by 2050, if not sooner. Supranational bodies, national governments, major corporations, NGOs and financial institutions have their differences in timing or the mix of solutions.