This report discusses the role of banks in financing the industry that is responsible for a major fraction of the global plastic polution. “For the first time, this report analyses the finance banks provided to key companies along the plastics supply chain. The report finds that between January 2015 and September 2019, banks provided loans and underwriting of more than USD 1.7 trillion (equivalent to Russia’s GDP) to forty key plastic chain actors. This includes all lending to those companies within this fixed time period.The total is equivalent to USD 790 million per day in finance to companies with involvement in the global plastics supply chain. While many banks have shown some awareness of the issue, none of the 20 banks which provide the lion’s share of funding have developed any due diligence systems, contingent loan criteria, or financing exclusions when it comes to the plastics packaging industry.”
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