Plastics have become the ubiquitous workhorse material of the modern economy
��� combining unrivalled functional properties with low cost. Their use has
increased twenty-fold in the past half-century and is expected to double again
in the next 20 years. Today nearly everyone, everywhere, every day comes into
contact with plastics ��� especially plastic packaging, the focus of this report. While
delivering many benefits, the current plastics economy has drawbacks that are
becoming more apparent by the day. After a short first-use cycle, 95% of plastic
packaging material value, or USD 80���120 billion annually, is lost to the economy.
A staggering 32% of plastic packaging escapes collection systems, generating
significant economic costs by reducing the productivity of vital natural systems
such as the ocean and clogging urban infrastructure. The cost of such after-use
externalities for plastic packaging, plus the cost associated with greenhouse
gas emissions from its production, is conservatively estimated at USD 40 billion
annually ��� exceeding the plastic packaging industry���s profit pool. In future, these
costs will have to be covered. In overcoming these drawbacks, an opportunity
beckons: enhancing system effectiveness to achieve better economic and
environmental outcomes while continuing to harness the many benefits of plastic
packaging.