If you can improve the soil there that’s seems like a good plan. I would go with a sealable container maybe those boxes that have a latch. But I imagine everytime it opens the smell won’t be very nice

That is a very good question. I too want to know. But also you need any escape for that compost. Do you have roof garden or balcony?

You are right, but to be fair most things that are petroleum based are made with it because of economic reasons. Many things don’t need to be it’s just cheaper that they are. That’s because of a combination of factors. If tomorrow every oil field in the world disappeared we would see alternatives for almost everything almost instantly because there would be huge financial incentive for it and many of those things already exist, they just have to compete with a very established and subsidized raw material