BP rolls out new plastics recycling effort

The big picture: The group aims to speed deployment of BP's "Infinia" technology for recycling polyethylene terephthalate plastic packaging waste.

What they're saying: Rita Griffin, the chief operating officer of BP's petrochemical unit, said, "we know we cannot create circularity on our own." The company is working with others to "prove a practical business model that can hopefully contribute to making all types of polyester waste infinitely recyclable."

Where it stands: Via Bloomberg, "The move follows in the footsteps of a competitor Total SA, which announced last week that it would work alongside companies including Nestle SA and Mars Inc. to develop a nascent chemical-recycling industry in France."

Go deeper: Big Oil doubles down on recycling