Global Plastic Ban Could Save Trillions by 2040
Recent studies show the urgent need for an immediate ban on problematic single-use plastics. Research commissioned by the World Wide Fund for Nature (WWF) and conducted by Earth Action (EA) suggests that banning items like straws, cotton buds and packaging made from polystyrene could save the global economy trillions of dollars by 2040. The findings reveal that quick action is far more effective than gradual phase-outs in reducing environmental harm and economic costs.
Problematic Plastics
Problematic plastics are those likely to pollute the environment and harm human health. This includes expanded polystyrene, polyvinyl chloride, and single-use items such as cotton buds and straws. These plastics often escape proper waste management and cause pollution.
Global Plastic Production and Waste
Humans produce about 430 million tonnes of plastic annually. Of this, 280 million tonnes become waste. Nearly half is landfilled, but 22% is mismanaged and pollutes ecosystems. Mismanaged waste is neither recycled nor properly disposed of, leading to environmental damage.
Economic Impact of Bans Versus Business as Usual
The study compares a business-as-usual (BAU) scenario with various ban and phase-out models. Under BAU, total costs of plastic production, consumption and social impacts could reach $10 trillion between 2025 and 2040. An immediate global ban on targeted plastics would cost $2 trillion but save $8 trillion compared to BAU. A phased approach would save $7 trillion, while staggered bans between high- and low-income countries would save $4.7 trillion.
Environmental Benefits of Immediate Ban
An immediate ban could reduce plastic consumption by 173 to 224 million tonnes and cut mismanaged waste by 51 to 74 million tonnes by 2040. This reduction lowers greenhouse gas emissions and lessens pollution in oceans and land.
Cost Components and Private Sector Impact
Administrative costs for an immediate ban are estimated at $323 million. However, waste management savings of $50 billion far exceed these expenses. Transition costs for the private sector are around $143 million, with market losses of $228 billion due to shrinking plastic markets. Yet, new economic opportunities in reusable products and circular business models are expected to offset these losses.
Policy Scenarios and Their Modelling
Six scenarios were modelled, including full bans, phased reductions, and differentiated timelines for countries by income level. These used data from the Plasteax dataset and existing bans worldwide. The scenarios consider waste management costs and social impacts to forecast savings and costs.
Role of International Cooperation
High-income countries supporting lower-income nations in implementing bans reduce administrative costs and improve outcomes. Multilateral agreements like the Montreal Protocol serve as models for effective global environmental treaties.
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