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🗞️ Driving the news: Nathan Cole, CDP's head of sustainable business, discusses the importance of corporate disclosure on plastics ahead of the upcoming Global Plastics Treaty negotiations
• He emphasizes that transparency is crucial as companies prepare for mandatory disclosure requirements that the treaty is expected to introduce
🔭 The context: The fourth round of negotiations for the Global Plastics Treaty is set to take place in Ottawa next week
• This treaty aims to enforce standardized disclosures about plastic use and waste in businesses globally, following the leads of the European Sustainability Reporting Standards and the Taskforce on Nature-related Financial Disclosures
🌍 Why it matters for the planet: Corporate transparency regarding plastic usage is vital in addressing the environmental and health impacts of plastics
• This shift towards mandatory disclosure is seen as a step towards reducing pollution and fostering a more circular economy
⏭️ What's next: As negotiations progress, businesses are increasingly expected to comply with new regulations and adopt sustainable practices
• This includes setting plastic-related targets and being transparent in their operations to stay competitive and responsible in the face of evolving environmental regulations
💬 One quote: "The time for hiding behind vague sustainability claims is gone, now companies must look to those leading the way and see that courageous corporate action on plastics is not only possible, but a necessity for any company seeking to remain competitive as we turn the tide on plastics," says Nathan Cole
📈 One stat: Research suggests that companies could face up to $100 billion in annual financial risks by 2040 if current plastic usage trends continue
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