Amidst the escalating plastic crisis, this report unveils the transformative power of Outcomes-Based Waste Prevention (OBWP) — a pioneering financial modality that marks a new era in mitigating plastic pollution. By ingeniously linking financial incentives to measurable environmental outcomes, OBWP offers a strategic pathway to bridge the critical funding gap that obstructs progress toward plastic pollution resolution.
This report dives deep into the mechanics and potential of Outcomes-Based Waste Prevention (OBWP), an innovative approach designed to tackle the global challenge of plastic pollution head-on. By exploring the concept of OBWP, we lay the groundwork for a promising financial tool aimed at overcoming the significant obstacles that hinder efforts to reduce plastic waste. Our analysis presents OBWP not merely as a financial mechanism but as a strategic enabler that drives efficiency, accountability, and scalability in efforts to curb plastic pollution.
With the threat of increasing plastic waste — projected to escalate by up to 85% by 2040 — the urgency for effective solutions has never been greater. Despite a growing willingness among businesses to move away from traditional linear models, the absence of viable infrastructure and the need for substantial funding prevent the adoption of circular practices. OBWP emerges as a critical solution, enabling the deployment of flexible financing to support initiatives at every stage of the plastic life cycle, especially those at an early stage of development needing both technical and financial backing.
The report underscores the vital role of a robust evaluation framework to mitigate risks and ensure a credible investment environment. It advocates for a collaborative approach among private, public, and philanthropic sectors to leverage OBWP and elevate outcomes-based financing as a key driver for achieving the objectives of the upcoming Global Treaty on Plastic Pollution. Through strategic allocation of resources and fostering global collaboration, OBWP sets the stage for transformative change in how we manage and consume plastic, steering us towards a sustainable future.
Key-Highlights from the report:
- Outcomes-Based Waste Prevention (OBWP) as a pioneering approach to strategically mitigate plastic pollution through innovative financing.
- Critical funding gap identified as a major barrier to progress, with OBWP offering a viable solution to bridge this gap effectively.
- Evaluation framework serves as an essential tool for stakeholders, ensuring investments in OBWP lead to tangible, measurable environmental outcomes.
- Collaboration across sectors is essential, with OBWP positioning as a key driver for public, private, and philanthropic entities to jointly tackle the plastic crisis.
- Global Treaty on Plastic Pollution underscored as a pivotal opportunity, with OBWP highlighted as a means to fulfill the treaty’s objectives, catalyzing the development of circular economy solutions.
The Webinar
The webinar delved into key insights from the report, highlighting innovative financial strategies to bridge the funding gap in mitigating plastic pollution, and featured speakers sharing their expertise on outcomes-based finance.
Speakers include:
- Sarah Perreard, Co-CEO and Stakeholder Engagement Lead at EA – Earth Action
- Eline Leising, Program Manager at Enviu
- Svetlana D’costa, Strategic Partnership Lead at rePurpose Global
- Laura Thompson, PhD, Advisor at GreenBlue Org
- Julie Lamy, Chief of Strategic Partnerships at Upstream
- Tao Wang, Senior Environmental and Climate Change Specialist at The World Bank
