Valuing Plastic, a UNEP-supported report produced by the Plastic Disclosure Project (PDP) and Trucost, makes the business case for managing and disclosing plastic use in the consumer goods industry. “Over 30 per cent of the natural capital costs are due to greenhouse gas emissions from raw material extraction and processing,” says the report, adding “marine pollution is the largest downstream cost, with the $13 billion figure most likely a significant underestimate.”
Calculating the negative financial impact of issues, such as marine environment or air pollution caused by incinerating plastic, the report reveals that the overall natural capital cost in the consumer goods sector each year is $75 billion. A large and unquantifiable amount of plastic waste enters the ocean from littering, poorly managed landfills, tourist activities and fisheries. Some of this material sinks to the ocean floor, while some floats and can travel over great distances on ocean currents – polluting shorelines and accumulating in massive mid-ocean gyres.
There have been many reliable reports of environmental damage due to plastic waste that include mortality or illness when ingested by sea creatures such as turtles; entanglement of animals, such as dolphins and whales; and damage to critical habitats, such as coral reefs.
There are also concerns about chemical contamination, invasive species spread by plastic fragments and economic damage to the fishing and tourism industries in many countries by, for example, fouling fishing equipment and polluting beaches.
Since the 2011 UNEP Year Book last reviewed plastic waste in the ocean, concern has grown over microplastics (particles up to 5 mm in diameter, either manufactured or created when plastic fragments), which have been ingested by marine organisms – including seabirds, fish, mussels, worms and zooplankton.
“One emerging issue is the increasing use of microplastics directly in consumer products, such as ‘microbeads’ in toothpaste, gels and facial cleansers,” explains the UNEP Year Book. “These microplastics tend not to be filtered out during sewage treatment, but are released directly into rivers, lakes and the ocean.”
Production trends, use patterns and changing demographics are expected to cause increasing plastic use, and both reports call for companies, institutions and consumers to reduce their waste. Valuing Plastic finds that while consumer goods companies currently save $4 billion each year through good plastic management, such as recycling, plastic use disclosure is poor. Less than half of the 100 companies assessed reported any data relevant to plastic.
