Overview
With global plastic pollution set to triple by 2040, our generation is increasingly defined by plastics. In response, world leaders are negotiating a global plastics treaty (GPT) in Busan, Korea, with the potential to fundamentally reshape how we produce, sell, and dispose of products. Given the high stakes, this fifth round of UN negotiations has been intense. In the most ambitious scenario, the GPT would prioritize recyclable and recycled polymers while targeting problematic and unnecessary plastics for elimination.
These efforts focused on improving end-of-life solutions and scaling up recycling across industries and regions have been seen as less ambitious by some proponents, who advocate for a treaty that addresses the entire lifecycle of plastics, from production to disposal. Yet,
focusing on end-of-life issues remains highly ambitious, particularly since only 9% of plastics are currently recycled. Addressing these issues will require significant investments in infrastructure, enabling policies, and enhanced coordination between public and private sectors to substantially increase recycling rates. Doing so cannot realistically be categorized as “low ambition,” especially when considering the disparities between the Global North and South.
A successful treaty would need to establish clear, measurable, and time-bound goals, with 2040 being a practical target.
In parallel,
the treaty negotiation process is drawing increased attention to chemicals of concern, and it is expected that more countries will begin regulating these substances at the national level once the treaty is adopted—particularly in developing economies where such regulatory frameworks are still in the early stages.
Looking ahead,
developed economies, expected to bear a larger financial burden, will rely on the private sector to help mobilize the necessary funds to achieve the objectives of the finalized GPT. Delegates are exploring options such as blended finance models, guarantees, and first-loss positions to ensure the treaty's success. With public resources stretched thin by inflation and ongoing geopolitical crises, policymakers will likely turn to the private sector to help shape and implement the financial mechanisms required for treaty execution.
The GPT presents a unique opportunity to address the growing environmental and health crises caused by plastic waste while unlocking new market opportunities for all stakeholders involved. If an agreement is reached by early 2025, it will have far-reaching implications for sectors across the plastics value chain. The UN negotiations will drive countries and trade blocs to develop new plastics regulations on a similar timeline, likely encompassing measures ranging from restrictions to disclosure requirements.
These efforts will catalyze the development of alternative materials, systems for reuse and refilling, and advances in recycling and broader waste management.
This report moves beyond the binary approaches that have characterized each round of negotiations since the first one held in Punta del Esta, Uruguay, in 2022. Instead, it fosters constructive debates about the specific risks and opportunities related to the GPT across industries and regions. It focuses on three core areas of the treaty negotiations: chemicals of concern, financing for waste management, and product design.
Download the full report below.
