The update comes as the talks on the UN Plastic Treaty are currently underway in Geneva. 

Key Highlights

• Rising Global Plastic production and Trade: Mainly for single use, grew from 2 million metric tonnes (MMT) in 1950 to 436 MMT in 2022.
  • Of this, only 10% is recycled and nearly 75% becomes waste.
• Rising Plastic Trade: Over 78% plastic produced was traded internationally (2022). 
• Absence of International Agreements: Like for biodiversity (Convention on Biological Diversity) and climate change (Paris Agreement). 
• Untapped Potential: Bio based and Compostable Plastics though available in many countries constitute only 1.5% of the global plastic production.
• Policy Issues: While tariffs on plastic and rubber products reduced from 34% to 7.2% over past 30 years, the same for alternatives like bamboo, paper, etc., remains around 14.4%. 

Way Forward

• Sector Based Reforms: Example tackling single use plastics through targeted bans like taxes and plastics with long life span  (E.g.., road construction) through better R&D, and product design.
• Strengthen Plastic Data Systems: To improve transparency and comparability across its life cycle. 
• Synergies with related Frameworks: Like Basel, Rotterdam, and Stockholm (BRS) Conventions.