Geneva: In a significant push towards addressing the global plastic pollution crisis, the World Bank Group has been actively supporting the development of an International Legally Binding Instrument (ILBI) on plastic pollution, a resolution adopted at the United Nations Environment Assembly in March 2022. The Intergovernmental Negotiating Committee (INC) has been tasked with finalizing the ILBI by the end of 2024, and its second part of the fifth session (INC 5.2) is scheduled in Geneva in August 2025.
According to World Bank, the organization is playing a crucial role in supporting over 60 countries to transition towards a circular economy and tackle plastic pollution through a lifecycle approach. The World Bank has been investing in data-driven initiatives, including the use of drone surveys and field assessments in countries like Cambodia, Philippines, Laos, and Vietnam to identify plastic pollution sources and pathways. Additionally, case studies in Nigeria and Senegal are helping to pinpoint pollution hotspots.
The World Bank has developed a series of analytical tools to aid policy-making in the fight against plastic pollution. These tools include the Plastic Policy Simulator, the Plastic Substitution Tradeoff Estimator, and PLASTInvest, all designed to help countries make informed decisions regarding plastic management and circularity. The World Bank also assists countries in developing national plastics action plans and strategies for phasing out single-use plastics, as seen in Vietnam, Thailand, and the Philippines.
Furthermore, the World Bank is channeling finance into both public and private sectors to support plastic management projects across various regions. This includes investments in solid waste management in Cambodia, Laos, and Indonesia, as well as agriculture projects in China. The International Finance Corporation (IFC), a member of the World Bank Group, has invested in recycling infrastructure, such as a $33 million investment in a Mexican facility converting used plastic bottles into recycled resin.
The World Bank is also leveraging its strong convening power to foster partnerships and collaborations in the plastics space. By working with private sector partners and other organizations, the Bank aims to align efforts with Member States to deliver impactful outcomes.
The World Bank remains committed to assisting countries in implementing the ILBI by providing customized analytics and data-sharing platforms. Additionally, it supports countries in prioritizing policy and investment decisions and expanding investments for both governments and the private sector. The Bank is exploring new regional programs to address the transboundary nature of plastic pollution, building on existing projects in Southeast and South Asia.