Eunomia’s report, commissioned by the Minderoo Foundation, explores the potential effectiveness of a polymer premium to help funding implementation of the Global Plastics Treaty.
A polymer premium would involve charging a fee ($US60-$90) to producers of primary plastic polymers – the ultimate source of all plastic pollution – per tonne of material they produce. Countries collecting the premium would retain part of the revenue, while the remainder would be distributed among low- and middle-income countries.
Our analysis outlines how revenue from a polymer premium could work effectively alongside public funding, such as official development assistance, and other forms of private sector funding to implement the treaty. The report discusses the necessity for cost recovery mechanisms, such as Extended Producer Responsibility (EPR), to cover the costs of managing waste in the long term. The polymer premium could be used strategically to help develop sustainable waste management systems and rapidly implement or scale up EPR.
Revenue from the premium could also be used in low- and middle-income countries to solve problems associated with managing plastic waste. Specifically, it could be deployed to:
- clean up legacy pollution
- tackle the human health impacts of plastic pollution
- support upstream transformation to a circular plastics economy, including reuse systems
- enable a just transition
