Tackling marine plastic pollution and keeping our oceans healthy is directly linked to the World Bank Group’s mission of alleviating extreme poverty, as billions of people, especially the poorest, rely on oceans for jobs and food. The World Bank Group supports countries in all regions in their efforts to address plastic pollution, at every stage of the plastic lifecycle, from stopping leakages to the environment to enabling a circular economy.
Last Updated: Apr 04, 2022
Plastic pollution is everywhere - in the air we breathe, in ice on the Arctic, in water and in fish that we eat, with huge costs to the environment, biodiversity, livelihoods, and possibly our health.
COVID-19 has exacerbated the problem of marine plastic pollution, with increased demand for single-use plastic and pressure on solid waste systems, accompanied by a drop in recycled materials because of hygiene concerns and low prices of virgin plastics. World Bank projects that were underway long before the pandemic are now even more relevant.
There is no silver bullet and interventions are needed at every stage of the plastic lifecycle, from production through to stopping plastic leakage, to transitioning to a circular economy approach. Solid waste management is a priority, and a circular economy for plastics is the long-term solution.
There is a need for new policies, behavior change by consumers and industry, investments, and innovation in financing, policies, technologies and partnerships between the private and public sectors. Governments alone cannot do it all, and the private sector has a key role in driving the transition to a circular economy. Governments can enact and implement laws that will enable the transition, while the private sector can contribute through increased financing, or innovation in redesign and new materials.
Addressing major bottlenecks and challenges driving plastic pollution should be part of the Blue recovery: the prevention of plastic pollution provides an opportunity for creating a circular economy model to build a more sustainable and inclusive economy and recover from the COVID-19 pandemic with a triple dividend on jobs, climate change and social benefits.
The World Bank Group is uniquely positioned to tackle this issue, with decades of experience in financing pollution prevention projects, providing technical expertise across many sectors, and bringing together key players to tackle the issue and transform plastic pollution challenges into opportunities to achieve green, resilient and inclusive development.
Last Updated: Apr 04, 2022
Responding to this crisis is a priority for the World Bank, which has projects worth more than US$2.5 billion in the pipeline with components focused on plastic pollution prevention. Projects span many sectors, from fisheries to tourism, with most focused on improving solid waste management. The World Bank Group currently has more than 60 engagements in countries in all regions looking at plastic pollution prevention. This covers all regions of the world. In FY21 the World Bank’s marine plastics portfolio surpassed $5 billion, supporting investments and policy reforms on circular economy and improved solid waste management in coastal areas and along rivers, river basin management, tourism development, fisheries, urban transformation, and industrial management. As of March 2022, PROBLUE, a multi-donor trust fund that focuses on marine plastic pollution, has committed more than US$40 million in 64 activities all over the world to help countries address marine plastic pollution.
The World Bank offers technical expertise across many sectors including waste management, environment, and transport. We support countries transitioning to a circular economy in places like Bangladesh, Indonesia, the Philippines, Vietnam, Thailand, Malaysia, the Pacific islands, Nigeria, Ghana, Mozambique, and South Africa. We work beyond borders to support regional solutions, like in ASEAN and in West Africa. We share knowledge and best practices and help crowd in private sector investment and support and scale up innovation. We also finance recycling; clean production; and policy reforms for carbon pricing and green growth.
Last Updated: Apr 04, 2022
