As more people awake to the harsh reality that single-use plastic is a major contributor to global pollution, companies that finance its production and distribution are facing increasing pressure to divest from these businesses.
This pressure isn’t coming just from tree-hugging environmentalists. Individual activist investors, university pension funds, and other stake-holders are reviewing their holdings and drawing links between return-on-investment and environmental destruction. (On a personal level, perhaps they should consider some of these 30 easy ways to be more environmentally friendly.)
For years, banks have been facing pressure to move their financing activities out of oil and gas exploration and to focus more on sustainable energy. And since almost all single-use plastic begins its journey to the oceans from oil and natural gas wells, it’s not surprising that momentum has been building to compel lenders to review their role in the plastics industry, too.
While financial institutions aren’t likely to stop investing in plastics production any time soon, environmental groups and proponents of more ethical ESG (environmental, social, and governance) investing are demanding that they be held accountable for their contribution to the massive volume of water bottles, plastic bags, and food containers that are choking the oceans. (These are the companies that produce the most plastic waste around the world.)
Click here to see the banks that invest the most in plastic production around the world
Dozens of banks worldwide are involved in the plastics business. To identify the 50 supplying the most loans to support plastic manufacturing, 24/7 Wall St. reviewed data in “The Plastic Waste Makers Index,” published this year by the Minderoo Foundation, an Australia-based philanthropy. The list is based on the total value of loans adjusted for share of business from in-scope polymer production.
Source: BalkansCat / iStock Editorial via Getty Images
50. Sberbank
> Number of deals (2010-2019): 8
> Country: Russia
> Annual revenue: $47.3 billion
> Annual profit: $10.4 billion
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Source: By Swp307 - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=84969456 / Wikimedia Commons
49. KDB Financial Group
> Number of deals (2010-2019): 77
> Country: South Korea
> Annual revenue: Data not available
> Annual profit: Data not available
Source: RiverNorthPhotography / Getty Images
48. PNC Financial Services
> Number of deals (2010-2019): 89
> Country: United States
> Annual revenue: $17.4 billion
> Annual profit: $8.4 billion
Source: Courtesy of Mega Financial Group
47. Mega Financial
> Number of deals (2010-2019): 88
> Country: Taiwan
> Annual revenue: Data not available
> Annual profit: Data not available
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Source: whitemay / iStock Unreleased via Getty Images
46. State Bank of India
> Number of deals (2010-2019): 162
> Country: India
> Annual revenue: $50.6 billion
> Annual profit: $3.1 billion
Source: aldorado10 / iStock Editorial via Getty Images
45.Landesbank Baden-Württemberg (LBBW)
> Number of deals (2010-2019): 21
> Country: Germany
> Annual revenue: Data not available
> Annual profit: Data not available
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Source: diegograndi / iStock Editorial via Getty Images
44. European Investment Bank
> Number of deals (2010-2019): 9
> Country: Luxembourg
> Annual revenue: Data not available
> Annual profit: Data not available
24/7 Wall St.
Source: BalkansCat / iStock Editorial via Getty Images
43. Toronto-Dominion Bank
> Number of deals (2010-2019): 70
> Country: Canada
> Annual revenue: Data not available
> Annual profit: Data not available
Source: jetcityimage / iStock Editorial via Getty Images
42. Regions Financial
> Number of deals (2010-2019): 23
> Country: United States
> Annual revenue: $6.4 billion
> Annual profit: $1.1 billion
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Source: JHVEPhoto / iStock Editorial via Getty Images
41. Royal Bank of Canada
> Number of deals (2010-2019): 159
> Country: Canada
> Annual revenue: Data not available
> Annual profit: Data not available
Source: Massimo Parisi / iStock Editorial via Getty Images
40. Intesa Sanpaolo
> Number of deals (2010-2019): 117
> Country: Italy
> Annual revenue: $45.8 billion
> Annual profit: $3.7 billion
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Source: PKpix / iStock via Getty Images
39. Yuanta Financial
> Number of deals (2010-2019): 73
> Country: Taiwan
> Annual revenue: Data not available
> Annual profit: Data not available
24/7 Wall St.
Source: spukkato / iStock Editorial via Getty Images
38. Kasikornbank
> Number of deals (2010-2019): 55
> Country: Thailand
> Annual revenue: $8.2 billion
> Annual profit: $916.9 million
Source: YinYang / Getty Images
37. Taiwan Financial Holding
> Number of deals (2010-2019): 85
> Country: Taiwan
> Annual revenue: Data not available
> Annual profit: Data not available
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36. Bank of New York Mellon
> Number of deals (2010-2019): 51
> Country: United States
> Annual revenue: $15.9 billion
> Annual profit: $3.6 billion
Source: georgeclerk / iStock Unreleased via Getty Images
35. ANZ
> Number of deals (2010-2019): 118
> Country: Australia
> Annual revenue: $20.3 billion
> Annual profit: $2.4 billion
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Source: By Doll91939 - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=74975498 / Wikimedia Commons
34. BNDES
> Number of deals (2010-2019): 6
> Country: Brazil
> Annual revenue: Data not available
> Annual profit: Data not available
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Source: tobiasjo / Getty Images
33. Bank of China
> Number of deals (2010-2019): 273
> Country: China
> Annual revenue: $134 billion
> Annual profit: $27.9 billion
Source: danielvfung / iStock Editorial via Getty Images
32. Standard Chartered
> Number of deals (2010-2019): 279
> Country: United Kingdom
> Annual revenue: $21 billion
> Annual profit: $425.8 million
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Source: ollo / iStock Unreleased via Getty Images
31. Commerzbank
> Number of deals (2010-2019): 98
> Country: Germany
> Annual revenue: $13 billion
> Annual profit: $-3.3 billion
Source: By Chainwit. - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=105434759 / Wikimedia Commons
30. Krung Thai Bank
> Number of deals (2010-2019): 65
> Country: Thailand
> Annual revenue: $4.9 billion
> Annual profit: $534.6 million
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Source: JHVEPhoto / iStock Editorial via Getty Images
29. Scotiabank
> Number of deals (2010-2019): 206
> Country: Canada
> Annual revenue: Data not available
> Annual profit: Data not available
Source: RiverNorthPhotography / Getty Images
28. Wells Fargo
> Number of deals (2010-2019): 310
> Country: United States
> Annual revenue: $85.9 billion
> Annual profit: $7.4 billion
Source: Haskew / iStock Editorial via Getty Images
27. Erste Group
> Number of deals (2010-2019): 65
> Country: Austria
> Annual revenue: Data not available
> Annual profit: Data not available
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26. Shanghai Pudong Development Bank
> Number of deals (2010-2019): 73
> Country: China
> Annual revenue: Data not available
> Annual profit: Data not available
Source: tupungato / iStock Editorial via Getty Images
25. Industrial and Commercial Bank of China
> Number of deals (2010-2019): 203
> Country: China
> Annual revenue: Data not available
> Annual profit: Data not available
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Source: Courtesy of SCB Thailand / Facebook
24. Siam Commercial Bank
> Number of deals (2010-2019): 65
> Country: Thailand
> Annual revenue: $5.6 billion
> Annual profit: $869.7 million
Source: Alf Ribeiro / Shutterstock.com
23. Santander
> Number of deals (2010-2019): 143
> Country: Spain
> Annual revenue: $73.6 billion
> Annual profit: $-10 billion
Source: SlavkoSereda / iStock Editorial via Getty Images
22. Raiffeisen Bank International
> Number of deals (2010-2019): 63
> Country: Austria
> Annual revenue: $8.3 billion
> Annual profit: $830.7 million
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Source: martinrlee / iStock Editorial via Getty Images
21. Lloyds Banking Group
> Number of deals (2010-2019): 79
> Country: United Kingdom
> Annual revenue: $43.4 billion
> Annual profit: $1.1 billion
Source: By https://www.flickr.com/photos/masatsu/ - https://www.flickr.com/photos/masatsu/1214040117/, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=12798132 / Wikimedia Commons
20. Bangkok Bank
> Number of deals (2010-2019): 65
> Country: Thailand
> Annual revenue: $5.2 billion
> Annual profit: $549 million
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Source: simarts / iStock Editorial via Getty Images
19. UBS
> Number of deals (2010-2019): 117
> Country: Switzerland
> Annual revenue: $32.2 billion
> Annual profit: $6.5 billion
Source: trenchcoates / iStock Unreleased via Getty Images
18. NatWest
> Number of deals (2010-2019): 163
> Country: United Kingdom
> Annual revenue: Data not available
> Annual profit: Data not available
Source: Courtesy of ING via Facebook
17. ING Group
> Number of deals (2010-2019): 178
> Country: Netherlands
> Annual revenue: $20.1 billion
> Annual profit: $2.8 billion
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Source: aureliefrance / iStock Editorial via Getty Images
16. Société Générale
> Number of deals (2010-2019): 321
> Country: France
> Annual revenue: $41.4 billion
> Annual profit: $-990.6 million
Source: ricochet64 / iStock Editorial via Getty Images
15. Crédit Agricole
> Number of deals (2010-2019): 322
> Country: France
> Annual revenue: Data not available
> Annual profit: Data not available
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Source: Nikada / iStock Unreleased via Getty Images
14. Morgan Stanley
> Number of deals (2010-2019): 377
> Country: United States
> Annual revenue: $56.7 billion
> Annual profit: $13.4 billion
Source: Plaza Financiera / Flickr
13. Credit Suisse
> Number of deals (2010-2019): 167
> Country: Switzerland
> Annual revenue: Data not available
> Annual profit: Data not available
Source: AdrianHancu / iStock Editorial via Getty Images
12. BNP Paribas
> Number of deals (2010-2019): 445
> Country: France
> Annual revenue: $102.7 billion
> Annual profit: $7.6 billion
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Source: boggy22 / iStock Editorial via Getty Images
11. UniCredit
> Number of deals (2010-2019): 173
> Country: Italy
> Annual revenue: $26.6 billion
> Annual profit: $-3.3 billion
Source: Dan Totilca / iStock Editorial via Getty Images
10. Goldman Sachs
> Number of deals (2010-2019): 320
> Country: United States
> Annual revenue: Data not available
> Annual profit: Data not available
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Source: Rebirth10 / WIkimedia Commons
9. SMBC Group
> Number of deals (2010-2019): 495
> Country: Japan
> Annual revenue: Data not available
> Annual profit: Data not available
24/7 Wall St.
Source: winhorse / iStock Unreleased via Getty Images
8. Mizuho Financial
> Number of deals (2010-2019): 571
> Country: Japan
> Annual revenue: $30.3 billion
> Annual profit: $3.7 billion
Source: franz12 / iStock Editorial via Getty Images
7. Deutsche Bank
> Number of deals (2010-2019): 340
> Country: Germany
> Annual revenue: $35.4 billion
> Annual profit: $566.6 million
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Source: tupungato / iStock Editorial via Getty Images
6. Mitsubishi UFJ Financial
> Number of deals (2010-2019): 599
> Country: Japan
> Annual revenue: $56 billion
> Annual profit: $5.2 billion
Source: William Barton / iStock Editorial via Getty Images
5. HSBC
> Number of deals (2010-2019): 600
> Country: United Kingdom
> Annual revenue: Data not available
> Annual profit: Data not available
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Source: majaiva / iStock Unreleased via Getty Images
4. Bank of America
> Number of deals (2010-2019): 561
> Country: United States
> Annual revenue: $98.8 billion
> Annual profit: $17.9 billion
Source: ymgerman / iStock Editorial via Getty Images
3. Citigroup
> Number of deals (2010-2019): 746
> Country: United States
> Annual revenue: $84.4 billion
> Annual profit: $17.1 billion
Source: subman / iStock Unreleased via Getty Images
2. JPMorgan Chase
> Number of deals (2010-2019): 636
> Country: United States
> Annual revenue: $136.2 billion
> Annual profit: $40.4 billion
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Source: _ultraforma_ / iStock Unreleased via Getty Images
1. Barclays
> Number of deals (2010-2019): 477
> Country: United Kingdom
> Annual revenue: $27.9 billion
> Annual profit: $2 billion
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