In this episode of the ESG Insider podcast, we explore the latest developments in international efforts to reach a global treaty on plastic pollution.

In late April, more than 170 countries gathered in Ottawa, Canada, to negotiate a legally binding instrument on plastic pollution with a view to agreeing on a global treaty by the end of 2024. The countries aim to reach a deal in the next gathering slated to take place Nov. 25 through Dec. 1 in Busan, South Korea.

Today we're covering the outcome of the recent Ottawa treaty talks, the issues that remain to be hashed out, and what needs to happen between now and the final round of negotiations.

We talk with Erin Simon, Vice President and Head of Plastic Waste and Business at international conservation organization WWF, which together with The Ellen MacArthur Foundation convened the Business Coalition for a Global Plastics Treaty. Erin tells us that countries have a lot of details left to work out in ad hoc meetings in the coming months and are effectively "pulling an all-nighter" between now and Busan.

To understand how one big company that uses plastics in its products is approaching this topic, we speak to Darci Vetter, Senior Vice President and Head of Global Public Policy at food, snack and beverage company PepsiCo, which is part of the Business Coalition for a Global Plastics Treaty.

"We definitely want to see those product design requirements, those common definitions, the principles, and as much specificity around extended producer responsibility and waste management — those are very important to us, and global rules that can set the stage for scalability within markets are critical," Darci tells us.

At the same time, "we know that the countries around the table are starting from very, very different places," she says. "So there will need to be some of that flexibility."

We also talk with Stewart Harris, Senior Director of Global Plastics Policy at the trade group American Chemistry Council. Stewart says that one outstanding question for governments is which measures are going to be legally binding and which will be voluntary.

Want to learn more about this topic? Check out our previous episodes of the ESG Insider podcast:

What companies are doing to address the plastic pollution problem: https://www.spglobal.com/esg/podcasts/what-companies-are-doing-to-address-the-plastic-pollution-problem

What's at stake in UN plastic pollution treaty talks: https://www.spglobal.com/esg/podcasts/what-s-at-stake-in-un-plastic-pollution-treaty-talks

How plastic impacts companies, investors, public health and the environment: https://www.spglobal.com/esg/podcasts/how-plastic-impacts-companies-investors-public-health-and-the-environment

This piece was published by S&P Global Sustainable1, a part of S&P Global.

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