Geneva: In a decisive move to address the escalating plastic pollution crisis, the World Bank Group has expanded its initiatives in support of the Intergovernmental Negotiating Committee (INC) on plastic pollution. This follows the historic resolution 5/14 adopted at the United Nations Environment Assembly in March 2022, aimed at developing an International Legally Binding Instrument (ILBI) to tackle plastic pollution comprehensively across its lifecycle. The INC is tasked with formulating the ILBI’s specific content by the end of 2024, with a pivotal session scheduled in August 2025 in Geneva.
According to World Bank, the organization is actively supporting over 60 countries in their transition to a circular economy, providing technical expertise and policy advice across various sectors such as tourism, clean energy, agriculture, and transportation. The World Bank Group is investing in data collection on marine plastic sources and impacts. Utilizing innovative methods like drone surveys and field assessments, countries including Cambodia, Philippines, Laos, and Vietnam are being assisted in identifying major plastic pollutants in waterways. Complementary case studies in Nigeria and Senegal focus on pollution hotspots and their environmental impacts, contributing to the INC’s discussions on definitions, methodologies, and data sharing.
Additionally, the World Bank Group has developed analytical tools to aid policy-making. These include the Plastic Policy Simulator for assessing policy impacts on the plastic value chain, the Plastic Substitution Tradeoff Estimator for evaluating alternatives to conventional plastics, and PLASTInvest for identifying investment opportunities to enhance plastic circularity. These tools are designed to assist countries in making informed decisions regarding plastic management.
The World Bank is also engaged in supporting national plastics action plans and strategies for phasing out single-use plastics in countries like Vietnam, Thailand, and the Philippines. Efforts in Mozambique, Malaysia, and Bangladesh focus on assessing circular economy opportunities and developing roadmaps for reducing marine plastics. Furthermore, the World Bank is mobilizing finance for both the public and private sectors, with investments in waste management and recycling industries. Notably, the International Finance Corporation (IFC) invested $33 million in a Mexican recycling facility for converting used plastic bottles into recycled resin for the bottling industry.
The World Bank Group’s commitment to combating plastic pollution extends to assisting countries in implementing the ILBI. This involves building evidence bases through customized analytics, providing targeted support for policy and investment decisions, and facilitating investments for governments and the private sector. Regional solutions are also being explored, particularly in Southeast Asia and South Asia, with potential new programs in West Africa.
