Plastic waste is threatening
marine life , with conservative yearly estimates of 13 billion U.S. dollars in financial damage to marine ecosystems.
This is contained in two reports issued at the inaugural meeting of the United Nations Environment Assembly.
“Plastic contamination threatening marine life, tourism, fisheries and businesses underscores the eleventh edition of the UN Environment Programme (UNEP) Year Book, which updates 10 issues previously highlighted over the past decade and provides mitigation steps for each.
“Valuing Plastic, a UNEP-supported report produced by the Plastic Disclosure Project (PDP) and Trucost, makes the business case for managing and disclosing plastic use in the consumer goods industry.
“Over 30 per cent of the natural capital costs are due to greenhouse gas emissions from raw material extraction and processing.
“Marine pollution is the largest downstream cost, with 13 billion dollars figure, most likely a significant underestimate,” the report said.
It reveals that the overall natural capital cost in the consumer goods sector each year is 75 billion dollars.
The report also stated that a large and unquantifiable amount of plastic waste enters the ocean from littering, poorly managed landfills, tourist activities and fisheries.
According to the report, some of these materials sink to the ocean floor, while some float and can travel over great distances on ocean currents – polluting shorelines and accumulating in massive mid-ocean gyres.
“There have been many reliable reports of environmental damage due to plastic waste that include mortality or illness when ingested by sea creatures such as turtles; entanglement of animals, such as dolphins and whales; and damage to critical habitats, such as coral reefs.
“There are also concerns about chemical contamination, invasive species spread by plastic fragments and economic damage to the fishing and tourism industries in many countries.
“Since the 2011 UNEP Year Book last reviewed plastic waste in the ocean, concern has grown over microplastics (particles up to 5 millimetres in diameter, either manufactured or created when plastic fragments), which have been ingested by marine organisms.
“The Yearbook affirms that “microplastics have also been identified as a threat to larger organisms, such as the endangered northern right whale, which is potentially exposed to ingestion through filter-feeding.
“Production trends, use patterns and changing demographics are expected to cause increasing plastic use, and both reports call for companies, institutions and consumers to reduce their waste.
“The research unveils the need for companies to consider their plastic footprint, just as they do for carbon, water and forestry,” said Andrew Russell, Director of the PDP.
“By measuring, managing and reporting plastic use and disposal through the PDP, companies can mitigate the risks, maximise the opportunities, and become more successful and sustainable.”
“Recommendations of the reports include that companies monitor their plastic use and publish the results in annual reports and commit to reducing the environmental impact of plastic through clear targets, deadlines and efficiency and recycling innovations,’’  Andrew Russell, Director of the PDP, which anchored the report, said.
The report said since plastic particles could be ingested by marine organisms and potentially accumulate and deliver toxins through the food web, efforts should be stepped up to fill the knowledge gaps and better understand the capacity of various plastics to absorb and transfer persistent, toxic and bioaccumulating chemicals.