Geneva: The World Bank Group (WBG) is actively engaging in international efforts to address plastic pollution, particularly through its significant contributions to the Intergovernmental Negotiating Committee (INC) on plastic pollution. This initiative follows the adoption of a resolution at the United Nations Environment Assembly (UNEA-5.2) in March 2022, which aims to develop an International Legally Binding Instrument (ILBI) by the end of 2024. The INC has convened multiple times to draft this vital instrument, with the next session scheduled for August 2025 in Geneva, Switzerland.
According to World Bank, the organization is committed to supporting over 60 countries in their transition towards a circular economy. The WBG's efforts span various sectors, including tourism, clean energy, agriculture, and transportation, offering technical expertise and policy advice. The initiative includes investing in data collection to track marine plastics, using innovative methods such as drone surveys and field assessments in countries like Cambodia, the Philippines, Laos, and Vietnam. These findings are crucial for INC discussions on definitions, methods, and data sharing.
The World Bank has developed analytical tools to assist in policy-making. These include the Plastic Policy Simulator, which assesses the impact of policy instruments on the plastic value chain, the Plastic Substitution Tradeoff Estimator (PSTE), and PLASTInvest for identifying investment opportunities in plastic circularity. These tools are designed to support countries in making informed policy and investment decisions.
Furthermore, the WBG aids in creating national plastics action plans and circular economy strategies. These plans, implemented in countries such as Vietnam, Thailand, and the Philippines, help identify necessary fiscal and regulatory reforms. Additionally, the WBG mobilizes finance for both public and private sectors, with projects focusing on various industries, including solid waste management, agriculture, and tourism. The International Finance Corporation (IFC), a part of the WBG, is also investing in the private sector, particularly in the recycling industry, exemplified by a US$33 million investment in a Mexican recycling facility.
The WBG's partnerships play a crucial role in enhancing its impact on plastic pollution. By collaborating with organizations and agencies, the Bank aims to align with the goals set by Member States, facilitating the successful implementation of the ILBI. This includes helping countries build an evidence base through customized analytics, supporting policy and investment decisions, and financing projects tailored to tackle plastic pollution.
As the ILBI progresses, the World Bank is poised to assist countries in implementing national measures to comply with the instrument's obligations. This includes establishing baselines, monitoring systems, and capacity building to assess progress. The Bank is also exploring regional solutions to address the transboundary nature of plastic pollution, building on existing projects in Southeast and South Asia and considering new programs in West Africa.