South Korea's Pivotal Role in the Global Plastics Treaty
Sunday, Nov 24, 2024 8:26 pm ET
2min read As the world grapples with the escalating plastic crisis, nations find themselves in the final round of negotiations, with Busan, South Korea, serving as the crucial battleground. Host to the fifth and final meeting of the International Negotiating Committee (INC-5), the South Korean government holds the responsibility to deliver a robust plastics treaty that effectively addresses the root causes of plastic pollution. With over 170 countries participating, the stage is set for a historic agreement that could transform the global plastics landscape.
But why is South Korea's role so pivotal in this global endeavor? As the world's fourth-largest producer of synthetic resins, South Korea's petrochemical industry is a significant player in the global plastics market. Its robust economy and consumerist culture have driven demand for plastics, particularly in food packaging and convenience items. Despite a recycling rate of around 45%, the country still grapples with substantial plastic waste generation, exporting over 44,000 metric tons of plastic waste in 2023 alone.
The Busan Plastic March, led by the global Break Free from Plastic movement and local Korean allies from the Uproot Plastics Coalition, emphasized the links between plastic pollution, human rights, and environmental justice. Demonstrators, comprising indigenous groups, youth, waste pickers, and community leaders, demanded a treaty with production reduction targets to effectively end plastic pollution.
Mandatory targets to reduce plastic production are essential to combat the triple planetary crisis of climate change, biodiversity loss, and toxic pollution. Most carbon emissions from plastics come from the production processes and the extraction of fossil fuels used to make 99% of plastics. The current projected growth of plastic production threatens humanity's ability to limit global warming to 1.5 degrees Celsius, as set by the Paris Agreement.
Investing in reuse systems is crucial, as highlighted by Rahyang Nusantara of Plasticdiet Indonesia. The treaty must establish a global standard for reuse systems not only to effectively tackle pollution across the full life cycle of plastics but also to ensure human health. This is what the world needs, not just another waste management agreement.
To be fair, the prospective agreement must ensure that the financial mechanism prioritizes reduction, redesign, and reuse through dedicated, sufficient, sustainable funds to support low-income countries and small island developing states. The treaty must center the principles of human rights and justice, polluter pays, do no harm, and provide just transition for Waste Pickers and other informal workers engaged in the plastics life cycle, as well as Indigenous Peoples as key partners to the treaty.
With only one round of negotiations left, civil society groups hope that the meetings will end with a treaty text that effectively addresses the full life cycle of plastics instead of a watered-down agreement. Sammy Yu of Green Korea United emphasized that the South Korean government, as the host country and the world's fourth-largest producer of plastic raw materials, bears a significant responsibility in addressing plastic pollution. The government must take a decisive position on 'reducing production' at the fifth round of negotiations and advocate for it strongly.
As nations gather in Busan for the final round of negotiations, the outcome will have far-reaching implications for the global plastics industry. South Korea, as a key player in the global plastics market, holds the power to influence the agreement and set the course for a more sustainable future. By embracing a robust plastics treaty that prioritizes reduction, redesign, and reuse, South Korea can lead the way in addressing the global plastic crisis.
But why is South Korea's role so pivotal in this global endeavor? As the world's fourth-largest producer of synthetic resins, South Korea's petrochemical industry is a significant player in the global plastics market. Its robust economy and consumerist culture have driven demand for plastics, particularly in food packaging and convenience items. Despite a recycling rate of around 45%, the country still grapples with substantial plastic waste generation, exporting over 44,000 metric tons of plastic waste in 2023 alone.
The Busan Plastic March, led by the global Break Free from Plastic movement and local Korean allies from the Uproot Plastics Coalition, emphasized the links between plastic pollution, human rights, and environmental justice. Demonstrators, comprising indigenous groups, youth, waste pickers, and community leaders, demanded a treaty with production reduction targets to effectively end plastic pollution.
Mandatory targets to reduce plastic production are essential to combat the triple planetary crisis of climate change, biodiversity loss, and toxic pollution. Most carbon emissions from plastics come from the production processes and the extraction of fossil fuels used to make 99% of plastics. The current projected growth of plastic production threatens humanity's ability to limit global warming to 1.5 degrees Celsius, as set by the Paris Agreement.
Investing in reuse systems is crucial, as highlighted by Rahyang Nusantara of Plasticdiet Indonesia. The treaty must establish a global standard for reuse systems not only to effectively tackle pollution across the full life cycle of plastics but also to ensure human health. This is what the world needs, not just another waste management agreement.
To be fair, the prospective agreement must ensure that the financial mechanism prioritizes reduction, redesign, and reuse through dedicated, sufficient, sustainable funds to support low-income countries and small island developing states. The treaty must center the principles of human rights and justice, polluter pays, do no harm, and provide just transition for Waste Pickers and other informal workers engaged in the plastics life cycle, as well as Indigenous Peoples as key partners to the treaty.
With only one round of negotiations left, civil society groups hope that the meetings will end with a treaty text that effectively addresses the full life cycle of plastics instead of a watered-down agreement. Sammy Yu of Green Korea United emphasized that the South Korean government, as the host country and the world's fourth-largest producer of plastic raw materials, bears a significant responsibility in addressing plastic pollution. The government must take a decisive position on 'reducing production' at the fifth round of negotiations and advocate for it strongly.
As nations gather in Busan for the final round of negotiations, the outcome will have far-reaching implications for the global plastics industry. South Korea, as a key player in the global plastics market, holds the power to influence the agreement and set the course for a more sustainable future. By embracing a robust plastics treaty that prioritizes reduction, redesign, and reuse, South Korea can lead the way in addressing the global plastic crisis.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.