Under a business-as-usual scenario, the volume of mismanaged plastics waste is projected to grow substantially to well over 250 million metric tons annually by 2040, leading to significant costs to the environment, human health and the economy.
It has been estimated that USD 1.64 trillion of investment will be required by 2040 to beat plastic pollution. To support this massive redirection of financial flows, this paper outlines the role and requirements of the finance sector to enable the transition towards pollution-free economies. Focusing on how the future international legally binding instrument to end plastic pollution endorsed by UN Members States in 2022 can enable the systemic change needed, it welcomes the existing provisions of the Zero Draft to redirect financial flows to end plastic pollution and proposes possible amendments to strengthen it.
This resource has been developed by the Finance Leadership Group on Plastics, a core group of banks and insurers with total assets of USD 9.8 trillion convened by UNEP FI and sponsored by the Minderoo Foundation.