Skip to content

Menu

LexBlog, Inc. logo
CommunitySub-MenuPublishersChannelsProductsSub-MenuBlog ProBlog PlusBlog PremierMicrositeSyndication PortalsAboutContactResourcesSubscribeSupport
Join
Search
Close

Bloomberg Targets Petrochemicals — How About Investing in Their Replacements?

By Seth Jaffe on September 23, 2022
Email this postTweet this postLike this postShare this post on LinkedIn

I’ve written previously about the urgency associated with the problems caused by waste plastic.  However, there’s a big difference between me blogging about it and Michael Bloomberg opening his wallet to try to do something about it.  And the news this week was that Michael Bloomberg is putting $85 million into a new “Beyond Petrochemicals” campaign. 

What’s really interesting is that Bloomberg has taken a substantially different tack than most of those who have been trying to address the problem of plastic pollution.  The difference is apparent from the get-go; the campaign is not called “Beyond Plastics”; it’s called “Beyond Petrochemicals”.  The other significant difference is that it’s not focused on encouraging the circular economy or other efforts designed to address plastic pollution – other than to prevent the manufacture of plastics in the first place.

And although there is brief mention in the “four key pillars” of the campaign about regulations to reduce the demand for plastic products, the discussion of the need for the campaign is focused on two different issues:  (1) the climate impact from the use of fossil feedstocks and the operations of the manufacturing facilities and (2) the environmental impact from the release of traditional pollutants from these facilities, particularly in environmental justice communities.  The campaign notes that it is focused on stopping 120 projects located primarily in Texas, Louisiana, and the Ohio River Valley.

It is an interesting strategic choice by Bloomberg to focus on climate and environmental justice issues, rather than on the back-end impact of plastic pollution itself.  In modern regulatory lingo, the reduction in plastic pollution will just be a co-benefit of the campaign’s efforts to stop the construction or expansion of all these facilities.  I don’t know if this was part of the rationale behind the strategy, but it does allow the campaign to avoid having to discuss the convenience plastics deliver to consumers.

I still think that we’re going to have to do more than stop construction or expansion of petrochemical facilities.  Plastics are really convenient and provide some significant benefits; we’re going to have to find alternatives to plastics and incentivize investment in the technologies and the facilities that will ultimately deliver those alternatives.

The post Bloomberg Targets Petrochemicals — How About Investing in Their Replacements? first appeared on Law and the Environment.

  • Posted in:
    Environmental
  • Blog:
    Law & The Environment
  • Organization:
    Foley Hoag LLP
  • Article: View Original Source

LexBlog, Inc. logo
Facebook LinkedIn Twitter RSS
Real Lawyers
99 Park Row
  • About LexBlog
  • Careers
  • Press
  • Contact LexBlog
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Terms of Service
  • RSS Terms of Service
  • Products
  • Blog Pro
  • Blog Plus
  • Blog Premier
  • Microsite
  • Syndication Portals
  • LexBlog Community
  • 1-800-913-0988
  • Submit a Request
  • Support Center
  • System Status
  • Resource Center

New to the Network

  • Internet, IT & e-Discovery
  • P3 For Texas
  • DSE Advisors
  • Innocelf Knowledge
  • Labor & Employment Blog
Copyright © 2023, LexBlog, Inc. All Rights Reserved.
Law blog design & platform by LexBlog LexBlog Logo