Earlier this week, the mining magnate Andrew Forrest made headlines calling for a global “polymer premium” – or plastic tax – to be placed on every tonne of newly manufactured plastics. A tax like this could form part of the Global Plastic Treaty being hammered out right now in Busan, South Korea. In fact, a treaty aimed at stopping plastic waste will have to have strong measures such as a plastic tax or a cap on plastic production to shift the status quo.
In economics, taxing things you don’t want should mean fewer get made. What Forrest is pitching is a way to curb the seemingly unstoppable rise in plastic production and tackle the plastic waste crisis at its source. While we may think recycling is all we need to solve the plastic waste problem, it’s nowhere near enough. Plastic is steadily choking seas and rivers, while toxic microplastics damage our health.
