Report: Plastics reduction is hindered by high costs.
As the predecessor of plastics, the petrochemical industry has fallen behind other industries in the transition to net zero emissions, and the high decarbonization cost is an important reason. Even one of the lowest-cost emission reduction technologies, carbon capture, costs over $200 per ton of carbon dioxide. Producers will need to add green premiums and government support, or rely on astronomically high carbon prices. Except for the USA, the carbon reduction cost of naphtha in each region exceeds $200 per ton of carbon dioxide, far higher than the value of any current carbon credits. However, if the carbon price in the European Emissions Trading System (ETS) continues to rise on its current trajectory, then by 2
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