Towards a circular economy for plastics

Plastics begin to harm the environment as soon as the production process begins. That’s why it is crucial that the new UN treaty will cover the entire value chain, starting with the design and production of plastic, right down to the disposal and waste processes. The treaty places onus on creating an effective circular economy, with sufficient incentives for multiple stakeholders to benefit from this. However, it is also important that much-needed behavioral changes are instigated and consumers make efforts to reduce and re-use plastic, especially single-use. If successfully implemented, the treaty could reduce virgin plastic production by 55%, save governments  US$70 billion by 2040  , and reduce greenhouse gas emissions by 25%. At Allianz, we fully support this resolution. It is a true turning point that can drive measurable and large-scale change.

One treaty, policy, or vessel might seem like a drop in the ocean, but many drops of water can create waves. We continue to champion the impressive efforts of Sea Shepherd and also aim to expand our fight against plastic waste to more areas, including tackling the important issue of plastic in rivers.