Business is booming.

Worldwide govt subsidy on plastic production to hit $150 billion by 2050,Study reveals

By Abdullahi Lukman

Governments worldwide provided $80 billion in subsidies for the production of virgin plastic in 2024, despite growing evidence of its harm to human and environmental health, a new report has revealed.

The study, released by environmental consultancy Eunomia and the Quaker United Nations Office (QUNO), highlights what it calls a “double burden” on taxpayers: public funds supporting plastic production and covering the resulting environmental and health costs.

Backed by the Minderoo Foundation, the report warns these subsidies could rise to over $150 billion by 2050 if current production trends continue.

“This is a health crisis in slow motion,” said Professor Sarah Dunlop, Director of Plastics and Human Health.

“The real cost of plastics doesn’t show up on the industry’s balance sheet – it appears in hospitals and government budgets.”

The research examined subsidies across more than 70 economies and seven major types of polymers, including HDPE, LDPE, PP, PET, and PVC.

It found that the plastic sector received more government support than some entire industries.

Eunomia’s lead economist, Tanzir Chowdhury, stated that eliminating subsidies for primary plastic polymers would have minimal effect on consumer prices but could significantly reduce pollution and health impacts.

The findings come amid final negotiations in Geneva for a Global Plastics Treaty.

The report urges governments to shift subsidies from virgin plastic production toward sustainable alternatives and circular economy initiatives.

below content

Quality journalism costs money. Today, we’re asking that you support us to do more. Support our work by sending in your donations.

The donation can be made directly into NatureNews Account below

Guaranty Trust Bank, Nigeria

0609085876

NatureNews Online

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More