The United Nations Trade and Development body, UNCTAD, issued an update on Thursday ahead of the latest round of negotiations to create a legally binding international agreement to tackle plastic pollution. Despite plastics being a direct contributor to pollution, biodiversity loss, and climate change, no comprehensive treaty currently governs their entire lifecycle.
In 2023, global plastic production reached 436 million metric tonnes, with a trade value over $1.1 billion, making up 5% of global goods trade. However, 75% of all plastics produced have become waste, much of it polluting oceans and ecosystems, threatening food systems and human well-being, especially in small island and coastal developing nations with limited resources.
UNCTAD advocates for measures to support eco-friendly plastic alternatives derived from natural sources like minerals, plants, or animals, which can be recycled or composted. The trade in these substitutes was valued at $485 billion in 2023, growing at 5.6% annually in developing regions. Overcoming challenges related to tariffs, market access, and regulatory incentives is crucial for progress.
The body highlighted that prices for plastic and rubber products have fallen from 34% to 7.2% over 30 years, making them “artificially cheap.” In contrast, alternatives face average tariffs of 14.4%, deterring investment and innovation in developing countries aiming to export safer alternatives. With 98% of plastics derived from fossil fuels, unchecked use could increase emissions and environmental damage.
Many countries are implementing non-tariff measures like bans, labeling requirements, and product standards. However, differing regulations lead to fragmentation and higher compliance costs, affecting small businesses and low-income exporters.
UNCTAD finds the ongoing treaty discussions promising, with talks initiated in 2022 and the final round set for Geneva next week. The treaty aims to address the entire plastic lifecycle and should include supportive measures for sustainable substitutes, waste management investments, digital traceability tools, and alignment among global bodies like the WTO, UN Climate Secretariat, and Basel Convention.
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