?? On the Road to Busan: Paving the Way for a Global Plastics Treaty ??

As I head to Busan for the 5th round of negotiations on the Global Plastics Treaty, I’m keenly aware of the critical focus needed in this final stretch.

What’s on the agenda? Here are the Foremost Four essentials, inspired by my colleague Emma at Searious Business :

1?? CAP new plastic production – Freeze production at 2020 levels and ban hazardous substances & chemicals of concern.

2?? SLAP a fee on virgin plastic – Incentivize reduction and reuse.

3?? WRAP products in more recycled plastic – Aim for 40% post-consumer recycled materials, aligned with circular design guidelines.

4?? TRAP plastic waste – Expand waste management and establish extended producer responsibility systems, geared for optimal recovery in collection for reuse or recycling.

These priorities align perfectly with what we have been advocating at Business For A Plastics Treaty . And WWF echoes these essential goals for binding global rules:

• Global bans and phase-outs of harmful plastics and chemicals.
• Product design requirements for a non-toxic circular economy.
• Aligned financial flows to support systemic change.
• Decision-making mechanisms to adapt and strengthen the treaty over time.

Investment is crucial. As I’ve often said, the cost of action is about HALF the cost of inaction. The estimated damage from plastic pollution from 2016 to 2040 is a staggering $281.8 trillion!

So when talking about funding: my friends at United Nations Environment Programme Finance Initiative (UNEP FI) emphasize the need for financial instruments that are:

• Catalyzing and aligning investments
• Creating an enabling environment

Want to learn more? Let’s connect in Busan or drop me a line!

p.s. While prepping to stay in South Korea, I found this interesting read on South Korea's actions on preventing plastic pollution.

#GlobalPlasticsTreaty #EPPIC #EPPIC_Plastics #BusinessNeedsGlobalRules #PlasticsTreaty #INC5 #Biz4PlasticsTreaty