PlanetOceanProject
PLASTIC POLLUTION, CLIMATE CHANGE & THE ECONOMY
Plastic waste and the economy
Marine litter and plastic pollution also significantly affect the global economy. Marine plastic pollution negatively impacts tourism, fisheries and aquaculture, costing these industries approximately at least USD 6-19 billion globally in 2018. It is projected that by 2040 there could be a USD 100 billion annual financial risk for businesses if governments require them to cover waste management costs at expected volumes and recyclability.
The United Nations Environment Programme has estimated that there is $13 billion in economic damage to marine ecosystems annually due to the negative impacts of plastic pollution. This cost includes losses in the fishing industry, losses in tourism and costs to clean up the beaches.
There is a reported annual $1 billion loss in tourism and its local economies. The $100 billion shellfish industry on the West Coast has been negatively impacted. Real estate values of waterfront properties have dropped as much as 25% in some areas.