Today, 95% of plastic packaging value—or $80-120 billion annually—is lost after first use.
Better systems for plastic waste management could generate more than US$700 billion in new economic value.
Although the challenge is most acute in Asia, which is the source of more than half of ocean plastics leakage, this is an opportunity for both developed and developing countries.
Moving away from the current “take-make-dispose” system to one that is circular, there are four key areas of action to unlock this opportunity:
- Strengthen the fact base to build a common narrative and contribute to accelerating the transition to a circular plastics economy
- Incubate new solutions: technology ventures, city partnerships, etc.
- Equip the system with the right enablers: new policies, better data systems, shared commitments and protocols, etc.
- Scale up viable solutions, and attract new sources of capital to finance investments needed