TCoPS - 23

The plastic lifecycle imposes significant costs and
risks that are not accounted for in the price of
plastic. The plastic produced in 2019 will impose a
cost of more than US$3.7 trillion (+/-US$1 trillion)
over its lifetime that society and governments
have already started to pay.150
More than 90% of the
lifetime cost of the plastic produced in 2019 is currently
not accounted for in the market price of plastic. On top of
that, the currently unquantified risks are also not included
in the market price meaning the cost borne by society is
likely even larger than the current quantifiable estimate
suggests. Therefore, governments and citizens are currently
unknowingly subsidising a plastic system that is imposing
countless negative impacts and creating environmental
injustice.
WITHOUT SIGNIFICANT ACTION THE COSTS AND
NEGATIVE IMPACTS IMPOSED BY THE PLASTIC
LIFECYCLE WILL CONTINUE TO RISE, THE SOCIETAL
LIFETIME COST OF THE PLASTIC PROJECTED TO BE
PRODUCED IN 2040 COULD REACH US$7.1TRILLION
(+/-US$2.2 TRILLION)
Plastic production and pollution are predicted to
significantly increase over the coming decades.
Plastic production is expected to more than double by
2040.151
Under BAU, it is also estimated that there will
be a tripling of pollution entering the ocean to 29 million
tonnes,152
increasing the total stock of plastic in the oceans to
600 million tonnes. This is equivalent to around double the
weight of the entire global adult population in 2005.153
Figure 6: The societal lifetime cost of the plastic produced
in 2040 is equivalent to 85% of global spending on health
in 2018.157
and greater than the GDP of Germany, Canada
and Australia in 2019 combined. greater than the GDP of
Germany, Canada and Australia in 2019 combined.158
8.3
US$ (TRILLION)
GLOBAL SPENDING ON
HEALTH IN 2018
Therefore, under BAU, the minimum societal
lifetime cost of the plastic produced in ten years will
increase to US$5.2 trillion (+/-US$1.6 trillion), while
the societal lifetime cost of the plastic produced
in 2040 will increase to US$7.1 trillion (+/-US$2.2
trillion).154
This is a huge potential cost for governments
and society that could be diverted to public spending on
other important issues, for example, health. The projected
minimum societal lifetime cost of the plastic produced in
2040 is equivalent to about 85% of global spending on health
in 2018155
Australia in 2019 combined (see Figure 6).156
7.1
US$ (TRILLION)
SOCIETAL LIFETIME
COST OF PLASTIC
PRODUCED IN 2040
7
US$ (TRILLION)
TOTAL GDP OF 3 COUNTRIES
3.86 GERMANY
1.4 AUSTRALIA
1.74 CANADA
23
and greater than the GDP of Germany, Canada, and
TCoPS

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