Latest news with #plastics
The National
8 hours ago
- General
- The National
A global plastics pollution treaty is possible
The environmental damage done by discarded single-use plastics is compounded by the fact it can often be out of sight, out of mind. From the moment a bag, bottle or straw is thoughtlessly dropped or inadequately disposed of, it begins a journey that can lead to it lingering for many years in remote locations, such as in rotting landfills or the world's oceans. Even the desert is not immune. In 2021, The National shared heart-breaking video footage captured by an environmental researcher that showed a baby camel in the Abu Dhabi wilderness eating a blue plastic bag that it mistook for food. Almost a year later, the Dubai government released figures showing that consumption of plastic caused nearly 90 per cent of turtle deaths in the UAE and half of camel fatalities. The sheer scale of the issue is sobering; the UN says the equivalent of 2,000 lorries full of plastic are dumped into the world's oceans, rivers and lakes every day while each year up to 23 million tonnes of plastic waste leaks into aquatic ecosystems. A global problem demands a global solution; as the international community marks World Environment Day today, it is worth noting that in exactly two months' time, countries will come together in Jeju, South Korea to work on a legally binding international treaty to eradicate plastics pollution. It is a laudable endeavour and one that the UAE is behind. The country is part of a 70-nation High-Ambition Coalition that wants to end plastics pollution by 2040 and, in 2023, then environment minister Mariam Almheiri told an environmental meeting in Paris that although 'plastic pollution is an epidemic … we can take pragmatic action to reduce it over the next few decades'. However, building consensus for international action is often tricky. In March 2022, the UN Environmental Assembly convened in Nairobi and 175 countries voted to adopt a global treaty for plastic pollution as well as an accelerated timeline that could have led to the agreement's implementation as early as this year. Clearly that timetable was too ambitious; since then, progress has been dogged by disagreements over the scale of the proposed treaty, who pays for clean up, and whether such a deal should cover the lifecycle of plastics from production to disposal. The differences between plastics producers and environmental NGOs as well as countries in the Global South and governments of industrialised states are profound. With the right approach a deal can be struck. A little over two weeks ago, member states of the World Health Organisation formally adopted the world's first pandemic agreement after three years of intensive negotiations. Similar strong bargaining characterised the run-up to 2023's Cop28 climate summit in Dubai, but here too there was a successful outcome in the form of the UAE Consensus. In exactly two months' time, countries will come together in Jeju, South Korea to work on a legally binding international treaty to eradicate plastics pollution However, what such divisions must not be allowed to do is sow fatalism or deter the many efforts to mitigate the scourge of single-use plastics in our ecosystem. There is much innovative work that is running in parallel to the talks process, such as emerging ocean clean-up technologies, the development of advanced biodegradable plastics and the promotion of the circular economy in which businesses and governments re-use and re-design existing plastics while also working on greener alternatives. National domestic policies can also play their part. In January 2021, the UAE Cabinet approved the Circular Economy Policy 2021-2031 and established the UAE Circular Economy Council. The following year, Abu Dhabi introduced a ban on single-use plastic bags. In January this year, Dubai also banned single-use plastics; the emirate has announced plans to close landfills by 2027. By bringing an open mind and realistic goals it is possible to produce a positive outcome for everyone and make scenes such as wildlife being choked and poisoned by plastic trash a thing of the past.
Forbes
13 hours ago
- Business
- Forbes
Formosa Heirs Drop Off Taiwan's 50 Richest List Amid Global Chemical Sector Downturn
William Wang. This story is part of Forbes' coverage of Taiwan's Richest 2025. See the full list here. With Taiwan's chemicals sector battling headwinds, brothers William and Wilfred Wang, who draw their wealth from Formosa Plastics Group and first appeared in the ranks of Taiwan's richest in 2018, are among the four dropoffs this year. ss Shares of group flagship, Formosa Plastics Corp., which reported a NT$1.2 billion ($40 million) net loss in 2024, its first in decades, plunged nearly 50% from a year ago. Other major listed units, Formosa Chemicals and Fibre, Formosa Petrochemical and Nan Ya Plastics, also saw their shares slide. One of the world's largest producers of plastics and petrochemicals, Formosa has been buffeted by slowing global demand and oversupply from mainland China. Unlike its mainland rivals, the group is also hamstrung by its reliance on imported raw materials, says Michelle Cheng, an associate at Taipei-based MasterLink Securities Investment Advisory. She adds that Formosa's carbon-neutrality transformation has also been lagging. Looking ahead, she says, the export-led group will have to navigate increasing trade protectionism in mainland China and the U.S., two of its main markets. Cofounded by their late father and headed by William since 2006, Formosa Plastics Group has been trying to weather the storm by expanding in India, Southeast Asia and other markets and also by developing more value-added products. In the past few years, the brothers have stepped away from day-to-day management, handing it over to professionals.
Bloomberg
27-05-2025
- Business
- Bloomberg
Chinese Plastics Buyers Resist Switch Back to US Propane Despite Pause in Trade War
Chinese plastics factories left without US raw material when trade relations collapsed earlier this year are holding back from returning to many of those suppliers despite a pause in hostilities, underscoring the difficulty in restoring commercial ties between the world's two largest economies. Beijing's retaliation to President Donald Trump's so-called reciprocal tariffs effectively made American energy sales to China unviable, including the propane used to make plastics. Last year, before the new administration took the helm, almost 60% of Chinese imports of the liquefied petroleum gas came from the US.
E&E News
23-05-2025
- Business
- E&E News
New York plastics bill runs into caucus cost concerns
ALBANY, New York — Some lawmakers are heeding the affordability drumbeat from business groups opposed to an aggressive waste reduction measure. A few Democratic lawmakers, mainly members of the influential Black, Puerto Rican, Hispanic and Asian Legislative Caucus, have signed on in recent weeks to competing 'extended producer responsibility' legislation backed by the plastics industry and other business interests. Environmental advocates are concerned this imperils their preferred measure with strict limits on toxic chemicals and mandated reductions in plastics and packaging materials. Advertisement 'There's a question around affordability,' said Michaelle Solages, who chairs the caucus.
Zawya
21-05-2025
- Business
- Zawya
WGC: QatarEnergy sees big growth in chemical industry, CEO says
BEIJING: QatarEnergy plans to more than double its capacity for plastics raw materials globally as it sees big growth in the chemical industry, Chief Executive Saad al-Kaabi said on Wednesday. The state-owned company expects its U.S. ethane cracker project to start production in the first quarter of 2027, he told the World Gas Conference. The project, a joint venture with Chevron Phillips Chemical, had been expected to begin operations in 2026, according to the U.S. company's website. It will include a 2.08 million metric tons per year (tpy) ethane cracker and two 1 million tpy high-density polyethylene units. Ethane is a byproduct of shale gas production. More petrochemical producers globally are building ethane crackers or reconfiguring their plants to process more ethane to reduce costs and capitalise on rising U.S. supplies as they face thin margins and global oversupply. Qatar, one of the world's three largest exporters of liquefied natural gas (LNG), expects its North Field East natural gas expansion project to begin production in mid-2026, he said, repeating comments on the timeline he made in a statement on Tuesday. Gas is needed for industry, for power, for chemicals, for food, Kaabi said, adding that gas is going to be the backbone for the next century for all societies around the world. "Anyone who's burning fuel oil or diesel for power can easily make the conversion from a cost perspective to gas," he said. (Reporting by Colleen Howe; Writing by Florence Tan; Editing by Tom Hogue and Christian Schmollinger)
