Global Economic Forum mentioned that plastic pollution has reached even the most remote corners of the planet, from the Mariana Trench to Mount Everest. 460 million tonnes of plastic are produced annually. Only 9 (Nine) percent is recycled; the rest leaks into the environment. By 2060, plastic waste is projected to triple, without intervention. The cumulative cost of the damage inflicted by plastic pollutants runs to an estimated US$281 trillion for the period between 2016-2040. Establishing circular economies through reuse and recycling will be vital for a global plastics treaty.
GLOBAL PLASTIC TREATY: We can recall the Sustainable Development Goals (SDGs) # 14: Life Below Water; and # 17: Partnerships for the Goals related to it. Pursuant to it in March 2022, at the resumed fifth session of the UN Environment Assembly (UNEA-5.2), a historic resolution was adopted to develop an international legally binding instrument on plastic pollution, including in the marine environment. In accord with it the second part of the fifth session of Intergovernmental Negotiating Committee (INC) formed byUnited Nations Environment Programme(UNEP), INC (5.2) took place from 5 to 14 August 2025, in Geneva, Switzerland.
UNEP has stated that the resumed fifth session of negotiations on a global plastic pollution treaty, held in Geneva, is a "unique and historic opportunity" to bridge differences and find common ground. It emphasizes the importance of this event in addressing the global challenge of plastic pollution, which impacts the environment, human health, and economies. The goal is to negotiate an effective Plastics Treaty that addresses the full life cycle of plastic, from design to disposal.
Delegates of the Treaty in Genevadiscussed and recommended capacity building, technical assistance, and technology transfer.
Representatives of different countries resumed discussions on financial resources and mechanism. They introduced concepts such as: a compensation fund; burden-sharing agreement; remediation funds, including for waste management and circular economy initiatives.
FINANCING TO END PLASTIC POLLUTION: Dealing with plastic waste is a pressing issue in our time. It requires a multi-pronged approach encompassing reduction, reuse, and responsible disposal. It involves minimizing plastic consumption, finding ways to reuse existing plastic items, and ensuring proper recycling or disposal to prevent environmental harm.
So to sustainably mitigatethe problems, Asia-Europe Foundation (ASEF) in collaboration with Alliance to End Plastic Waste (AEPW) organized a workshop in Singapore for journalists in May this year 2025. Title: "Challenges of Dealing with Plastic Waste." Author of this article joined the event accordingly. It aims to deepen journalists' understanding of the complexities surrounding plastic pollution and the various strategies employed to manage it. It features interactive panel sessions and site visits, provided participants with firsthand insights into the challenges and solutions related to plastic waste management.
Among otherexperts at the workshop, MsYash Mishra, Global Head, Impact Finance and Sustainability of Alliance to End Plastic Waste (AEPW), Singapore talked about Financing Plastic Circularity.She said, "Tackling the global plastic waste challenge will require an estimated USD281 trillion by 2040. While bold and innovative financing solutions are needed, many plastic waste mitigation initiatives are unattractive to conventional investors due to their perceived risks. Because they involve emerging technologies, nascent business models, untested market applications, or a combination of the aforementioned.
A coalition of civil society organizations staged a silent protest
outside the meeting hall, holding signs that urged delegates to "Keep
your promise. Fix the process. End plastic pollution," GAIA added.
AEPWsupports through championing innovative financing solutions that unlock the capital urgently needed to scale solutions for plastics circularity.We do this through blended finance, where the AEPW's concessional capital contributes towards catalyzing other private-sector capital and providing technical support; thereby de-risking promising innovations," Ms Yash narrated.
Representatives from Global Alliance for Incinerator Alternatives (GAIA) Asia Pacific took part at the UNEP's INC 5.2 summitin Switzerland. GAIA mentioned in their note that the Global Plastics Treaty marked the halfway point in discussions, with high tensions and hopes. The stock take plenary - a session intended to review progress and address obstacles - fell short of expectations, as many countries were not allowed to speak. Observers criticized the session's rushed format, which limited dialogue on key procedural issues and frustrated some Member States and civil society stakeholders.
A coalition of civil society organizations staged a silent protest outside the meeting hall, holding signs that urged delegates to "Keep your promise. Fix the process. End plastic pollution," GAIA added.
Ms Yash Mishra further opined, "Additionally, introductions made to the AEPW's broader ecosystem, including our global network of members and partners, help to accelerate the scaling of solutions. This is complemented withtechnical expertise and guidance, gleaned from five years of experience supporting projects.
Our new strategic direction will see the AEPW deepen its partnerships with governments and development finance institutions to co-develop large-scale, high-impact programmes to close plastic circularity gaps. Catalytic capital will become a cornerstone under this new strategy, as these programmes will likely require capital-intensive infrastructure development. It is in order to end plastic waste leakage and improve plastic recycling rates,"Ms Yash concluded. Therefore, all the Governments, development partners, international communities and actors must keep in mind that we have a mountain of work left, and very little time to get through it to survive.
The writer is a Media fellow of Asia-Europe Foundation (ASEF) Singapore
