Nearly all plastics are made from fossil fuel–based petrochemical feedstocks. As demand for energy shifts away from fossil fuels, petrochemical production has become a key growth area, now accounting for about 14% of total oil use. The International Energy Agency projects that petrochemicals will be the largest driver of net oil demand growth through 2030. This expansion strategy deepens the world’s dependence on single use plastics while increasing financial and climate risk for investors. 

As You Sow engages petrochemical producers to take financial responsibility for the downstream impact of their products and to disclose material risks associated with chemical recycling technologies. Artificially low resin prices, supported by significant fossil fuel subsidies, have enabled decades of overproduction and underpricing of virgin plastic. As these companies expand their capacity, they must also confront the costs their products impose on communities and ecosystems. 

Chemical Recycling Disclosure 

Chemical recycling refers to processes that break down plastic waste molecules into their basic components to convert it into fuel or chemical feedstocks for new products. The technology has been promoted by the petrochemical industry as a key solution to plastic pollution because it can recycle complex plastics that are difficult to recover using traditional mechanical recycling, but its safety, efficiency, and environmental impacts are controversial. High energy consumption, potential toxic emissions, and limited material recovery raise questions about its long-term viability. 

As You Sow engages major fossil fuel companies to strengthen transparency and accountability in the development of chemical recycling technologies. Through shareholder advocacy and direct dialogue with industry leaders including ExxonMobil and Chevron, we urge companies for full disclosure of the environmental and financial risks associated with these emerging processes.  Our engagement has helped prompt several major chemical companies to move toward development of internal guidelines for responsible production and disclosure. We will continue to push for these new recycling technologies to be rigorously evaluated and proven safe, effective, and sustainable before being adopted at scale.