(Bloomberg) -- Plastic is good for the environment because competing products including paper packaging and fiber-based textiles are worse, according to Exxon Mobil Corp.
“From a sustainability viewpoint, plastic packaging beats alternatives,” Jack Williams, a senior vice president at Exxon, said at an investor presentation in New York Thursday.
Manufacturing plastics takes less energy than other products, he said, citing a study by researcher Franklin Associates and sponsored by the American Chemistry Council industry group. Alternatives generate five times the amount of waste and use more water, Williams said.
“Bottom line: plastics provide a net benefit to society and to the environment,” he said.
QuickTake: The Problem With Plastic
Exxon's comments come in marked contrast to cities, governments and companies that are taking action against single-use plastics including bags, straws and coffee cups due to their impact on the environment. Total plastic waste in the oceans is expected to more than double by 2030 without significant policy changes, the International Energy Agency said in a 2018 report.
Williams acknowledged that plastic waste is “an important societal issue” that must be addressed. Exxon is exploring ways to use more recycled material in its chemicals production and is funding efforts to improve waste management.
To contact the reporter on this story: Kevin Crowley in Houston at kcrowley1@bloomberg.net
To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine Buurma, Joe Carroll
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