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.
Blue Gold: The Global Water Crisis And The Commodification Of The World’s Water Supply
Increasingly, transnational corporations are plotting to control the world’s dwindling water supply. In England and France, where water has already been privatized, rates have soared and water shortages have been severe. The major bottled-water producers – Perrier, Evian, Naya, and now Coca-Cola and PepsiCo – are part of one of the fastest growing and least regulated industries, buying up freshwater rights and drying up crucial supplies.
Maude Barlow and Tony Clarke, two of the most active opponents to this trend, show how the corporate giants act in their own interest and how, contrary to received wisdom, water only flows uphill to the wealthy, who can afford it.