A new study warns investors and insurers that plastic pollution is costing society $100 billion per year and litigation is coming. Thanks to new legal pathways, people around the world could sue plastics manufacturers for damages totalling more than $20 billion by 2030, with most lawsuits originating in the U.S., according to a new study.
The report, published by the Australian Minderoo Foundation, estimates that the plastics industry is costing society around $100 billion annually in environmental clean-ups, ecosystem degradation, shorter life expectancy and medical treatments. Minderoo is a philanthropic organization focused on the environment and climate, among other causes.
“We found that the negative impacts of plastic on human health are at least as consequential as the environmental risks about plastics that tend to dominate the story,” Dominic Charles, director of finance and transparency at the Minderoo Foundation and one of the study’s coauthors, told EHN. “Working to actually put a number on these social costs was a real eye opener.”…