Concerns have never been more acute about pollution and toxicity from plastics. Plastic production and waste could nearly triple by 2060, yet hopes are weak for a global plastics treaty after the last attempt flamed out in August. But regardless of its outcome, this moment marks a turning point for business risks and opportunities around plastics. The treaty collapsed after Saudi Arabia, the United States, Russia and other fossil-fuel-friendly nations balked on production caps, which more than 100 other countries demanded. The United Nations treaty requires unanimity, however, and many experts are pessimistic about that possibility. Treaty stakeholders return to Geneva on Feb. 7 to elect a new chair, who will need to navigate tensions with obstructionist countries. Risks and opportunities “Reckless petrochemical capacity expansion isn’t just harmful for the climate; it’s increasingly seen as a financial risk,” said Andres del Castillo, senior attorney at the Center for International Environmental Law. In July, more than 80 financial institutions managing a collective $7 trillion in assets warned of major liabilities related to plastics. In addition, the health impacts of plastics will cause businesses to lose customers, according to Judith Enck, author of the 2025 book “The Problem with Plastic.” Scientists recently tied plastics in the body to heart attacks and Alzheimer’s disease. “Poll after poll shows that the public wants less plastic,” she said. The good news: Advancing circular and less-toxic plastic systems can create new business streams and 8.6 million jobs, according to the Dec. 3 “Breaking the Plastics Wave” report…
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