Geneva: In March 2022, the United Nations Environment Assembly (UNEA-5.2) adopted a pivotal resolution to develop an International Legally Binding Instrument (ILBI) aimed at addressing plastic pollution comprehensively, including its impact on marine environments. An Intergovernmental Negotiating Committee (INC) has been established, meeting multiple times to finalize the ILBI’s specifics by the end of 2024. The second session of this committee, INC 5.2, is slated for August 2025 in Geneva, Switzerland.
According to World Bank, the organization is actively contributing to the INC process by supporting plastic pollution prevention initiatives in over 60 countries. The World Bank Group is assisting these nations in transitioning to a circular economy by offering technical expertise and policy advice across various sectors, including tourism, clean energy, agriculture, and transportation. This involves investing in data collection on marine plastics and utilizing innovative tools like drone surveys to identify plastic pollution pathways in countries such as Cambodia, Philippines, Laos, and Vietnam. Additionally, case studies in Nigeria and Senegal help pinpoint pollution hotspots and analyze their environmental impacts.
The World Bank has also developed several analytical tools to aid in policymaking. The Plastic Policy Simulator tool helps understand the effects of different policies on the plastic value chain, while the Plastic Substitution Tradeoff Estimator (PSTE) evaluates alternatives to conventional plastics. The PLASTInvest tool is designed to identify priority investment opportunities for advancing plastic circularity.
Furthermore, the World Bank is assisting various countries in developing national plastics action plans and circular economy strategies. For instance, in Vietnam, Thailand, and the Philippines, the organization has supported the implementation of National Action Plans, while in Mozambique and Malaysia, it has assessed circular economy opportunities. In Bangladesh, the World Bank helped formulate a roadmap to reduce marine plastics.
Additionally, the World Bank is mobilizing finance for both the public and private sectors, with investments in waste management and recycling being a focus. For example, the International Finance Corporation (IFC) invested $33 million in a recycling facility in Mexico, converting used plastic bottles into food-grade resin for the bottling industry.
The World Bank is leveraging its partnerships to strengthen its impact, collaborating with the IFC and other agencies to align efforts with Member States and deliver beneficial outcomes. As the ILBI moves toward implementation, the World Bank is committed to assisting countries in prioritizing policies and investments to meet the ILBI’s obligations.
The World Bank Group’s involvement in combating plastic pollution includes building evidence bases through customized analytics, providing targeted support for policy and investment decisions, and facilitating investments for both governments and the private sector. Regional solutions are also being explored, with projects underway in Southeast Asia and South Asia to further address the transboundary nature of plastic pollution.