183 investors with over USD $10 trillion in assets are signatories calling for urgent action to reduce plastics from intensive users of plastic packaging.
The signatories say that actions taken by companies to date have failed to have impact on the scale and at the rate required. As noted in the Ellen MacArthur Foundation’s 2022 Progress Report, signatories to the Global Commitment are not on track to meet their 2025 target that all packaging be reusable, recyclable and compostable.
They say they expect companies to make a real and scalable change by setting more ambitious targets and taking stronger actions. Companies must set a clear vision to drastically reduce consumption of single-use plastic packaging in absolute terms, phase out hazardous
chemicals and, crucially, advocate for – not against – the policy framework needed to support
these actions. To this end, they expect companies that intensively use plastic packaging
(notably the FMCG and grocery retail sector) to:
- Support ambitious plastics policy for effective outcomes
- Commit to and start delivering absolute reduction of single-use plastic packaging including through implementing reuse systems
- Address toxicity in value chains
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