Geneva: A landmark resolution was adopted in March 2022 at the resumed fifth session of the United Nations Environment Assembly (UNEA-5.2), establishing the framework for an International Legally Binding Instrument (ILBI) on plastic pollution. This resolution, known as 5/14, aims to address plastic pollution comprehensively, focusing on the entire lifecycle of plastic. The Intergovernmental Negotiating Committee (INC) has been working diligently, meeting five times, to finalize the ILBI’s content by the end of 2024. The second part of the fifth session of the INC (INC 5.2) is scheduled for August 2025 in Geneva, Switzerland.
According to World Bank, the organization is fully engaged in supporting the INC process, contributing to the development of the ILBI. The World Bank Group is actively involved in over 60 countries, assisting in the transition to a circular economy and providing technical expertise on plastic pollution prevention. Their efforts include data collection on marine plastics, investment in analytical tools for policy-making, and support for national plastics action plans. The World Bank is also mobilizing finance for both public and private sector initiatives, with significant investments in waste management and recycling industries.
The World Bank Group is developing innovative tools such as the Plastic Policy Simulator and the Plastic Substitution Tradeoff Estimator, aiding countries in making informed policy decisions. Investments are being directed towards solid waste management, agriculture, and other sectors, with a focus on reducing plastic pollution. The IFC is expanding its investments in the waste management and recycling industry, highlighting a US$33 million investment in a recycling facility in Mexico.
Additionally, the World Bank Group is leveraging its partnerships to strengthen the impact of its initiatives. The organization is committed to aligning its efforts with the pace set by member states, fostering collaboration with the private sector and partner agencies to deliver impactful outcomes.
As the ILBI development progresses, the World Bank Group is poised to assist countries in implementing national measures to comply with its provisions. The organization aims to build an evidence base through customized analytics, support countries in prioritizing policy and investment decisions, and provide targeted investments for governments and the private sector.
The World Bank’s ongoing projects in Southeast Asia and South Asia highlight the importance of regional solutions, addressing the transboundary nature of plastic pollution. New regional programs are being explored in West Africa, further emphasizing the World Bank’s commitment to combating plastic pollution on a global scale.