Listen to this story. Enjoy more audio and podcasts on iOS or Android.
Your browser does not support the element.
WHEN HE became chief executive of OMV in September 2021, Alfred Stern had one word for Austria’s oil-and-gas major: plastic. Having previously run the concern’s chemicals division, Borealis, he saw that business, not fossil fuels, as OMV’s future. Global demand for carbon-emitting products will sooner or later peak. That for virgin plastics used in packaging is forecast to increase on average by 4.7% a year until 2030, faster than world GDP; for recycled plastics it will expand by as much as 12% annually.
<p
→ Continue reading at The Economist
