Plastic's Cost: Environmental Impact And Monetary Value

Plastic is everywhere, and it's cheap. But the real cost of plastic is much greater than we realise. In 2018, the US generated 35.7 million tons of plastic, and the recycling rate for plastic containers was only 29.1%. The social and environmental costs of plastic pollution are estimated at USD 300-460bn per year, and the total cost to governments of managing plastic waste between 2021 and 2040 could reach up to USD 670bn. With microplastics now being found in human blood, the true cost of plastic could be significantly larger.

The cost of plastic pollution

Plastic may seem cheap, but its real cost is much greater than we realise. The social and environmental costs of plastic pollution are estimated at USD 300-460bn per year. This includes the health costs stemming from associated emissions, air pollution, and exposure to hazardous chemicals, as well as the cost of ocean clean-up and lost marine ecosystem services. With microplastics now being found in human blood, the health consequences of plastic pollution are yet unknown, and the true cost could be significantly larger.

In 2019, 82 million tons of plastic waste was collected and then released or deposited, such that the waste could get into the natural environment, for example, in dumpsites or landfills. As a result, over 100 million tons of plastics have accumulated in rivers and lakes, and 30 million tons in the ocean. The total cost to governments of managing plastic waste between 2021 and 2040 could reach up to USD 670bn, with the cost of inaction for businesses potentially reaching USD 100bn over the same timeframe.

In 2018, plastics generation was 35.7 million tons in the United States, which was 12.2 per cent of MSW generation. The recycling rate of PET bottles and jars was 29.1 per cent in 2018, and the rate for HDPE natural bottles was 29.3 per cent in 2018. The total amount of plastics combusted in MSW in 2018 was 5.6 million tons. This was 16.3 per cent of all MSW combusted with energy recovery that year. In 2018, landfills received 27 million tons of plastic. This was 18.5 per cent of all MSW landfilled.

A shift from a linear to a more circular plastics economy could save USD 1.3tr, considering investment, operational, and management costs, and recycling revenues. A further estimated USD 3.3tr could be saved from avoided externalities, like health costs. Each dollar saved in direct costs could save twice that amount in indirect costs.

The cost of plastic production

Plastic may seem cheap, but its real cost is much greater than we realise. The social and environmental costs of plastic pollution are estimated at USD 300-460bn per year. This includes the health costs stemming from associated emissions, air pollution, and exposure to hazardous chemicals, as well as the cost of ocean clean-up and lost marine ecosystem services. With microplastics now being found in human blood, the health consequences of plastic pollution are yet to be fully understood, and the true cost could be significantly larger.

In 2018, plastics generation was 35.7 million tons in the United States, which was 12.2% of MSW generation. The recycling rate of PET bottles and jars was 29.1% in 2018, and the rate for HDPE natural bottles was 29.3% in 2018. However, overall, the amount of recycled plastics is relatively small—three million tons for an 8.7% recycling rate in 2018.

An estimated 90-95% of plastic production is "virgin" plastic, and over two-thirds of the 430 million tons of plastic produced globally each year is for short-lived, single-use products, like packaging or bags. Product disposal is mismanaged—barely 10% of plastic gets recycled each year. In 2019, 82 million tons of plastic waste was collected and then released or deposited, such that the waste could get into the natural environment, e.g. in dumpsites or landfills. As a result, over 100 million tons of plastics have accumulated in rivers and lakes, and 30 million tons in the ocean.

The total cost to governments of managing plastic waste between 2021 and 2040 could reach up to USD 670bn, with the cost of inaction for businesses potentially reaching USD 100bn over the same timeframe. However, under a plan to curb unnecessary plastic use and reduce plastic pollution by expanding the recycling market, savings of USD 1.3tr could be realised, considering investment, operational, and management costs, and recycling revenues. A further estimated USD 3.3tr could be saved from avoided externalities, like health costs.

The cost of plastic recycling

Plastic may seem cheap, but its real cost is much greater than we realise. The social and environmental costs of plastic pollution are estimated at USD 300–460bn per year. This includes the health costs stemming from associated emissions, air pollution, and exposure to hazardous chemicals, as well as the cost of ocean clean-up and lost marine ecosystem services. With microplastics now being found in human blood, the health consequences of plastic pollution are yet unknown, and the true cost could be significantly larger.

In 2018, plastics generation was 35.7 million tons in the United States, which was 12.2% of MSW generation. The recycling rate of PET bottles and jars was 29.1% in 2018, and the rate for HDPE natural bottles was 29.3% in 2018. While the amount of recycled plastics is relatively small, the recycling of some specific types of plastic containers is more significant.

The total cost to governments of managing plastic waste between 2021 and 2040 could reach up to USD 670bn, with the cost of inaction for businesses potentially reaching USD 100bn over the same timeframe. However, under a plan to curb unnecessary plastic use and reduce plastic pollution by expanding the recycling market, savings of USD 1.3tr could be realised, considering investment, operational, and management costs, and recycling revenues. A further estimated USD 3.3tr could be saved from avoided externalities, like health costs.

The cost of plastic disposal

Plastic may seem cheap, but its real cost is much greater than we realise. The social and environmental costs of plastic pollution are estimated at USD 300-460bn per year. This includes the health costs stemming from associated emissions, air pollution, and exposure to hazardous chemicals, as well as the cost of ocean clean-up and lost marine ecosystem services. With microplastics now being found in human blood, the health consequences of plastic pollution are yet unknown, and the true cost could be significantly larger.

In 2019, 82 million tons of plastic waste was collected and then released or deposited, such that the waste could get into the natural environment, e.g. in dumpsites or landfills. As a result, over 100 million tons of plastics have accumulated in rivers and lakes, and 30 million tons in the ocean. The total cost to governments of managing plastic waste between 2021 and 2040 could reach up to USD 670bn, with the cost of inaction for businesses potentially reaching USD 100bn over the same timeframe.

In 2018, plastics generation was 35.7 million tons in the United States, which was 12.2% of MSW generation. The recycling rate of PET bottles and jars was 29.1% in 2018, and the rate for HDPE natural bottles was 29.3% in 2018. The total amount of plastics combusted in MSW in 2018 was 5.6 million tons. This was 16.3% of all MSW combusted with energy recovery that year. In 2018, landfills received 27 million tons of plastic. This was 18.5% of all MSW landfilled.

The plan to curb unnecessary plastic use and reduce plastic pollution by expanding the recycling market could save USD 1.3tr, considering investment, operational, and management costs, and recycling revenues. A further estimated USD 3.3tr could be saved from avoided externalities, like health costs. Each dollar saved in direct costs could save twice that amount in indirect costs.

The cost of plastic to human health

Plastic may seem cheap, but its real cost is much greater than we realise. Plastic pollution is expensive, with the social and environmental costs estimated at USD 300-460bn per year. This includes the health costs stemming from associated emissions, air pollution, and exposure to hazardous chemicals, as well as the cost of ocean clean-up and lost marine ecosystem services. With microplastics now being found in human blood, the health consequences are yet unknown, but the true cost could be significantly larger.

Endocrine-disrupting chemicals (EDCs) in plastics pose a serious threat to public health. These chemicals disturb the body's hormone systems and can cause cancer, diabetes, reproductive disorders, neurological impairments of developing foetuses and children, and death. In 2018, the US health costs related to chemicals in plastics reached $250 billion, which is equal to 1.22% of the nation's annual gross domestic product (GDP).

The total cost to governments of managing plastic waste between 2021 and 2040 could reach up to USD 670bn, with the cost of inaction for businesses potentially reaching USD 100bn over the same timeframe. However, under a plan to curb unnecessary plastic use and reduce plastic pollution by expanding the recycling market, savings of USD 1.3tr could be realised, with a further estimated USD 3.3tr saved from avoided externalities, like health costs.

Frequently asked questions