The UN Environment Programme report advocates for a transformative shift towards a circular plastics economy, spotlighting three primary strategies that could significantly curb plastic pollution by 2040.

1) Reuse: Accelerating the market for reusable products can potentially reduce plastic pollution by 30% by 2040.

2) Recycle: Ensuring recycling becomes a more stable and profitable venture can reduce plastic pollution by an additional 20% by 2040.

3) Reorient and Diversify: Shaping the market for plastic alternatives can reduce pollution by 17% by 2040.

Without a change in our current practices, plastics could account for a staggering 19% of global greenhousegas emissions allowed under a 1.5°C scenario by 2040. This potential environmental fallout emphasizes the urgency of transitioning from our current linear plastic economy to a more sustainable, circular model. Beyond the environmental considerations, the economic implications of plastic pollution are equally severe. The social and environmental costs associated with plastic pollution currently range between $300-$600 billion per year, with some estimates soaring above $1.5 trillion per year. These figures underscore the financial burden of our global reliance on plastics, a burden that disproportionately impacts marginalized communities and developing nations. In contrast, the transition to a new plastics economy, one that emphasizes reduction, reuse, and recycling, is not only environmentally sound but also economically beneficial. The report suggests that this transition, if fully realized by 2040, could result in 700,000 additional jobs and savings close to $1.3 trillion, representing a reduction in costs overall by 20.3%.