Local Pensions Partnership Investments (LPPI) is supporting the call for a UN treaty on plastic pollution from the UN Environment Assembly in Nairobi that will be legally binding.
The scale of plastic pollution requires a globally coordinated approach and clear common standards across all markets for progress to be achieved.
“We believe not only is there a clear business case for a treaty on plastic pollution, but also that our firm commitment to a treaty should improve the overall effectiveness of our engagements in this area,” said Matthew Hannay, LPPI’s senior equity analyst ESG (global equities).
Every year, millions of tonnes of plastic is released into the environment causing harm to people and nature while contributing to the climate crisis.
As the scale of the problem is too big for individuals, companies or even countries to tackle alone, the goal of the UN Treaty is to create a circular economy for plastics.
A legally binding international treaty would establish a set of global rules and regulations to assist in achieving this goal.