Economic Costs of Plastic Pollution Cleanup

In Southeast Asia’s lower Mekong River basin, you might come across giant catfish as long as a car, dolphins that interact with people, or even discover something completely new. Between 1997 and 2014, nearly 2,000 new species were identified in this area.

But the reality of the Mekong River is quite different. It’s now one of the top 10 most polluted rivers in the world due to industrial waste and a lot of plastic trash being dumped into it. This plastic pollution has had a huge impact: the fishing industry has suffered with reduced catches and an estimated economic loss of $280 million. Tourism has also taken a hit, with a damaged reputation leading to annual losses between $33 and $58 million.

The pollution has also clogged waterways, hurting agriculture, and increased healthcare costs due to contaminated water.

This situation didn’t happen overnight; it’s part of a bigger problem affecting our oceans and rivers worldwide, with plastic waste eventually ending up in the seas.

Globally, these issues are costing the planet around $2.2 trillion. While using plastic may seem convenient, the environmental cost is enormous. So, is it really worth it? Let’s take a closer look.

Cost of plastic pollution

At the first United Nations Environment Assembly in 2014, two reports raised serious concerns about the growing threat of plastic waste to marine life. They estimated that plastic pollution costs marine ecosystems about $13 billion each year.

Fast forward to 2019, and research showed that marine plastic pollution had racked up more than $2.2 trillion in costs over just five years. This highlights the problems with our wasteful plastic economy.

Every year, we produce over 200 million tonnes of plastic waste—roughly equivalent to 523 trillion plastic straws. If laid end to end, these straws could wrap around the Earth 2.8 million times. Nearly half of this plastic ends up in the ocean due to improper disposal, like open burning or direct dumping, with over 11 million tonnes leaking into the marine environment annually.

The report “Plastics: The Cost to Society, Environment, and the Economy” reveals that plastic produces 1.8 billion tonnes of greenhouse gas emissions each year—more than the combined emissions from shipping and aircraft.

The financial impact of the climate change caused by plastic is another big issue.

The biggest challenge with managing plastic waste is its convenience, flexibility, durability, and low cost, which leads to higher production and, consequently, more plastic waste ending up in our oceans.

Also Read: Harmful Effects of Plastic Pollution

The Plastic Pickle

Every year, we spend over $32 billion on managing plastic waste—collecting, sorting, disposing, and recycling it. Plus, clean-up efforts cost up to $15 billion annually for governments, NGOs, and concerned citizens.

In 2018, plastic pollution led to GDP losses of up to $7 billion. This drop in earnings mainly affected tourism, fishing, aquaculture, and other industries.

Rivers pour millions of tonnes of plastic into the ocean each year, which breaks down into tiny, toxic microplastics. This causes the deaths of over 100,000 fish, birds, dolphins, and turtles each year, as they either ingest plastic, suffocate, or suffer from abrasions.

Dirty, trash-filled beaches and polluted environments drive away tourists, leading to fewer visitors and less revenue for local businesses, which hurts the tourism industry.

Plastic debris also damages fishing gear, contaminates catches, and lowers the market value of seafood. This results in productivity losses and higher costs for the fishing industry.

Health issues from plastic pollution include respiratory problems and waterborne diseases, which add to global healthcare costs. Plastics contain endocrine-disrupting chemicals linked to various health problems, such as infertility, obesity, diabetes, and cancer.

Cleaning up plastic pollution is expensive, straining both public and private budgets. It also contaminates soils and clogs irrigation systems, hurting agricultural productivity and affecting farmers’ incomes and global food supply.

Overall, the economic losses from plastic pollution are huge and hard to measure precisely. They affect tourism, fisheries, waste management, healthcare, environmental restoration, and agriculture, impacting national economies and stalling global sustainable development efforts.