Plastic is a valuable material due to its versatility and wide range of applications; however, its overuse has led to significant challenges. Plastic pollution is everywhere - in the air we breathe, in ice in the Arctic, in water, and in food that we consume, and imposes huge costs to the livelihoods, biodiversity, health, and the environment.
There is no silver bullet, and interventions are needed at every stage of the plastic lifecycle, from production, limiting consumption, to preventing plastic waste leakage, and ultimately transitioning to a circular economy. Effective solid waste management is a foundation, and adopting a circular plastic economy is a sustainable long-term solution. There is a need for effective policies, investments in critical infrastructures, behavior change by consumers and industry, innovative financing, technologies, and partnerships between the private and public sectors. Governments alone cannot do it all, and the private sector has a key role in managing marine plastic pollution. Governments can enact and enforce regulations that will enable transition towards a circular plastic economy, while the private sector can contribute through increased financing, or innovation along the value chain from redesign and introduction of alternative materials to improved recycling.
Addressing major bottlenecks and challenges driving plastic pollution should be part of the blue recovery: the prevention of plastic pollution provides an opportunity for creating a circular economy model to build a more sustainable and inclusive economy. The World Bank Group is uniquely positioned to tackle this issue, with decades of experience in financing pollution prevention projects, providing technical expertise across many sectors, and bringing together key players to tackle the issue and transform plastic pollution challenges into opportunities to achieve green, resilient, and inclusive development.
Last Updated: Oct 23, 2024
