Plastic recycling needs to be freed from the oil price cycle
The United Nations has committed to delivering a binding treaty on the material by the end of this year. More than 175 governments will convene in Ottawa this month for a round of negotiations.
When it comes to plastic waste, the numbers are alarming. And they’re getting worse. According to the OECD, 91 per cent of all plastic used goes into nature, oceans, landfill or incineration every year – that’s 320 million tonnes. By 2060, there will be an additional 30 billion tonnes. Only 5 billion tonnes are predicted to be recycled.
The world needs a plan to fix its plastic problem. The United Nations has committed to delivering a legally binding plastic treaty by the end of this year. This month, more than 175 governments will convene in Ottawa for the fourth and penultimate round of negotiations of the plastic treaty.
Bloomberg Opinion
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