Washington: In March 2022, the United Nations Environment Assembly adopted a groundbreaking resolution, 5/14, to develop an International Legally Binding Instrument (ILBI) aimed at addressing plastic pollution, including its impact on marine environments. This instrument focuses on a comprehensive approach that covers the entire life cycle of plastics. An Intergovernmental Negotiating Committee (INC) has been formed to deliberate five times and finalize the ILBI’s content by the end of 2024.
According to World Bank, the organization is actively supporting global efforts to combat plastic pollution through a range of initiatives across more than 60 countries. The World Bank Group (WBG) is assisting these nations in transitioning to a circular economy, offering technical expertise and policy advice on various sectors, including tourism, clean energy, agriculture, and transportation.
The WBG is investing in data collection on marine plastic sources and their pathways, aiding clients in tracking plastics from land to coastal waters. Innovative drone surveys and field assessments are being used in countries like Cambodia, the Philippines, Laos, and Vietnam to identify prevalent plastic products in waterways. In Nigeria and Senegal, case studies are being conducted to pinpoint pollution hotspots and analyze their sources and impacts on coastal environments. These efforts are expected to inform INC discussions on definitions, methodologies, baselines, and data sharing.
In collaboration with partners, the World Bank is also developing tools to aid policy-making, such as the Plastic Policy Simulator tool and an investment toolkit named PlastINVEST. These resources aim to provide countries with data-driven models for policy analysis and clear estimations of the required capital investment for national action plans on plastic pollution.
Furthermore, the World Bank is supporting the development of national plastics action plans, roadmaps to phase out single-use plastics, and circular economy strategies in various countries, including Vietnam, Thailand, and the Philippines. The organization is also mobilizing finance through both public (IBRD/IDA) and private (IFC) sectors to support investments in waste management and recycling industries.
With its strong convening power, the World Bank is working with various partners to enhance its impact in the plastics space. The organization is committed to assisting countries in prioritizing and customizing their policies and plans for the ILBI’s successful implementation.
The ongoing INC discussions focus on whether the ILBI will be globally mandated or determined by individual countries, as well as issues such as primary plastics of concern, extended producer responsibility, and potential financing mechanisms. The World Bank’s experience and mandate position it to offer significant support to countries in implementing the ILBI through customized analytics, policy prioritization, and investment strategies.