Overview of the global plastic landscape

Pollution has become one of the most pressing challenges facing the modern world. Worldwide, it is a threat that can impact life on this little blue planet for generations. However, as humankind progresses and consumption rises, it seems inevitable that this challenge will continue to balloon, making the work to mitigate this effect all the more critical. Approximately 75 to 199 million tons of plastic currently reside in our oceans, with an additional 149 million tonnes set to enter the ocean yearly.

Companies and organizations today are much more aware of the climatic impact of all their activities. There has been a keen interest in reducing carbon emissions and achieving carbon neutrality. The 1997 Kyoto Protocol standardized carbon credits globally, creating a widespread impact in establishing emission reduction targets for countries, creating a Clean development mechanism (CDM), and even creating a market for trading carbon credits. But the same cannot be said for the use and disposal of plastic.

But countries are not entirely blind to this looming threat. With a growing need for standardization, countries have begun adopting EPR protocols ( Extended Producer Responsibility) to mitigate some of these effects attributed to plastics. But the truth is that more is needed, more to be done by stakeholders before sizable impacts are felt, and the industry is driven to create and adopt globally acceptable standards. In order to drive active participation from the powers that be toward reaching the goals for sustainability, it is necessary to adopt measures that are reliable and drive accountability, something similar to what carbon credits did for carbon emissions.

When closely examining the concept of credits in the recycling sector, we can trace its origins back to 2013 in Brazil. As part of the EPR implementation, stakeholders introduced it as a tool to bring in financing and accountability. Fast forward a couple of years, several companies have actively adopted it, specifically focusing on plastic recycling—enter the era of plastic credits.

But where would the supply come from for these plastic credits? To legitimately offset any amount of plastic footprint created by businesses, there should be clear, documented proof of work done to recycle and remove plastic from the environment. The entire globe is going through this problem, but where should the ideal focus be? Where could the most impact be created by clearing plastic from the environment and providing plastic producers the opportunity to offset the damage or set better policies?