NEW YORK--(BUSINESS WIRE)--In a new first-of-its kind report released today, the natural capital cost of the worldwide consumer goods industry’s impact on the environment through the use of plastics in its products has been valued at more than $75 billion dollars per year1. The research is the world’s first-ever assessment of the environmental costs of plastics in business.
The report, ‘Valuing plastic: the business case for measuring, managing and disclosing plastic use in the consumer goods industry’ details the amount of plastic used by stock exchange listed companies in sixteen consumer goods sectors, and places monetary values on their environmental impacts. Levels of corporate disclosure on plastic are also assessed.
The report is designed to help listed consumer goods companies, many of which are some of world’s largest users of plastic, understand the business case for developing resource or ‘closed loop’ business models that recover and re-use resources. As it also highlights the value at risk if they fail to make changes in their management of plastics, the report is anticipated to be of interest to investors and shareholders to protect the value of their investments in plastic-intensive companies.
Andrew Russell, Director of the Plastic Disclosure Project, said, “The research unveils the need for companies to measure, manage and report on their plastic use to not only improve their bottom line through increased efficiencies, but build creditability and win customers by creating more sustainable products.”
The consumer goods sectors assessed by the Valuing Plastics report are: athletic goods, automobiles, clothing and accessories consumer electronics, durable household goods, food, footwear, furniture, medical and pharmaceutical products, non-durable household goods, personal products, retail, restaurants and bars, tobacco, toys and soft drinks.
The report will be discussed at the Plasticity Forum (www.plasticityforum.com), New York on June 24th by Richard Mattison, CEO Trucost and is available for download from 10am GMT, 23 June at www.trucost.com/published-research/134/valuing-plastic
1. Cost of various environmental impact of plastics, for example, the harm of plastic litter to wildlife in the ocean and the loss of resources when plastic waste is not recycled.