COP27’s Energy Day saw the spotlight turn on petrochemicals and fossil fuels, and how to stem the rising tide of plastic.
Sitting on today’s Climate Action panel discussion was Emma Silver, Global Director of Public Affairs at Minderoo; Aarti Ananthanaraayanan, Director, Climate & Plastics, Ocean Conservancy; and Lina Constantinovici, Founder and CEO of Innovation 4.4.
Ananthanaraayanan said petrochemicals are the fastest growing source of demand for oil and gas, accounting for 70% of demand in 2021 – the same figure that accounted for personal transportation demand in the previous decade.
The $600bn plastic industry now accounts for 3-4% of greenhouse gas emissions, and petrochemicals are poised to consume an added 56bcm of natural gas by 2030.
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