In March 2022, the United Nations Environment Assembly (UNEA) adopted a resolution with the objective of ending plastic pollution. The aim is to draft an internationally binding agreement – or the Global Plastics Treaty (GPT) – on plastics by 2024, to be adopted by countries by 2025. The GPT’s main aim is to create a comprehensive framework that addresses all aspects of the plastic lifecycle from extraction to disposal. The fifth GPT Intergovernmental Negotiating Committee Session (INC-5) in Busan, Republic of Korea is expected to be the final round of negotiations for the treaty, which will culminate in a draft treaty text set for adoption.

Since the second session or INC-2, the Asian Development Bank (ADB) has been participating in the negotiations as an intergovernmental observer. By joining the process, ADB seeks to support staff, developing member countries (DMCs), and other development partners to understand what could be done to assist DMCs with achieving their plastic pollution reduction goals and identify where ADB can assist in treaty implementation, as well as demonstrate relevance
to ADB operations and potential pipeline investments. Participating in the GPT process and ensuring eventual implementation would contribute significantly to ADB's focus under its new Environment Action Plan to address the triple planetary crisis of climate change, biodiversity loss, and pollution. 

At INC-5, ADB is joining three side events organized by partners. See below for more information and copies of the presentations delivered.

1. EPR, Loans & Plastic Credits: Financing Solutions for Indonesia and Other Emerging Markets — 24 November 2024 (see event recap)
2. Enhanced Readiness of the Southeast Asian Region in Addressing Plastic Pollution under Plastic Treaty: Regional Collaboration to Address Plastic Pollution Across its Lifecycle — 27 November 2024
3. Challenges and Opportunities for Ocean Governance to Address Marine Pollution — 28 November 2024