An estimated US$1.5 trillion in public expenditure and US$15.4 trillion in private sector investments are needed between 2025 to 2040 to reduce annual mismanaged plastic volumes by 90% relative to 2019 levels.
Ahead of the fifth and final set of negotiations for an international legally binding instrument on plastic pollution, including in the marine environment (ILBI), the Financing Coordination Group, CDP and the University of Portsmouth are hosting a Finance Day to discuss the state of play on financing options for ILBI and pathways for implementation.
Convening stakeholders from across Government, corporate, financial institutions and academia, we will:
• Surface country-level insights on mobilizing financing to enable a circular plastics economy.
• Promote alignment among diverse financing programs and initiatives emerging in the plastics space, to ensure financing maximizes synergies and impact.
• Explore learnings from and interoperability with other multilateral frameworks to build holistic approaches to addressing the triple planetary crisis.
Hosted by WEF and the World Bank Group, this session will close out Finance Day by providing concrete next steps. The session will bring together stakeholders from the growing network of National Plastic Action Partnership countries to share findings and best practices related to mobilizing financing at the national, regional and global level.
Financing Coordination Group
The Financing Coordination Group (FCG) is an informal coalition of organizations - comprising The Circulate Initiative, OECD, UN Environment Programme Finance Initiative, World Bank, and World Economic Forum – that jointly facilitate knowledge exchange, capacity building and multistakeholder collaboration on innovative financing solutions.
The FCG aims to support the implementation and objectives of a global plastic treaty and ultimately, ending plastic pollution.
CDP
CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The world’s economy looks to CDP as the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and city action.
Alongside our partners WWF, The Pew Charitable Trust, The Ellen MacArthur Foundation and the Minderoo Foundation, CDP aims to use transparency and accountability to drive ambitious action on the plastic pollution crisis at scale.
University of Portsmouth
The Revolution Plastics Institute is based at the University of Portsmouth, a top 3 modern university for research power. Our mission is to urgently confront the global plastics crisis through inclusive, solutions-focused research and innovation to support the transition to a sustainable plastics future.
We see a critical space for the University as an independent, objective evidence provider at the interface of government, businesses, citizens, and researchers, all working together to achieve benefits for people and nature.