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The World Struggles with a Wasteful Problem: How to Tackle It
By Nuru Lama
April 26, 2024
As the global leader in waste and circularity at IFC, I cannot ignore how taboo the conversation around waste management appears. Even in international discussions about climate change and development, addressing waste often takes a backseat. However, if we are to successfully mitigate climate issues such as pollution and biodiversity loss, it's time for more attention on this crucial topic and action across global and local levels.
Waste is responsible for 20 of methane emissions worldwide-a potent greenhouse gas with an impact 80 times stronger than carbon dioxide. Flure to address these emissions will make achieving the United Nations' Sustnable Development Goals nearly impossible. Unfortunately, the situation is alarming: rapid urbanization, industrial growth, and escalating consumption levels have led to overwhelming waste generation-over two billion tons annually-which is projected to increase by 70 by 2050. Developing countries face particularly daunting challenges due to inadequate waste collection services, ineffective source separation of waste types, reliance on unmanaged landfills and open dumps for disposal leading to toxic mounds that contaminate r, water sources, anger public health, and accelerate climate change. For instance, in Latin America and the Caribbean, over 145,000 tons-approximately one-third of urban waste-a day s up at dumpsites.
Scalable solutions that mitigate waste- pollution and methane emissions already exist and are being implemented effectively. These circular pathways involve modernizing waste collection processes, increasing recycling capacities for materials such as plastics, glass, metals, organic waste for composting and energy recovery, thus reducing landfill use and creating new revenue streams for municipalities and waste management companies. Additionally, this approach helps producers reduce carbon emissions by minimizing the need for raw material sourcing and energy consumption compared to landfills.
A case in point is Latin America's largest mechanized recycling plant in Pernambuco, Brazil's northeast region with a processing capacity of roughly 2,000 tons dly. This initiative was supported through IFC's issuance of one of the country's first sustnability loans. IFC has been applying this comprehensive approach in other countries like Poland and Vietnam by engaging across the entire sustnable waste management value chn.
However, challenges persist that limit wide-scale adoption of sustnable waste management practices. Robust regulations to support proper collection, recycling, energy recovery, and disposal are essential. Exted Producer Responsibility EPR regulations can drive circularity while reducing burdens on municipal waste operators-such as India's legislation placing responsibility on producers and manufacturers for collecting the waste they create for reuse or recycling.
Moreover, ensuring that households, businesses, and municipalities pay to manage their waste generation is crucial-a barrier in lower-income countries and communities. Public-private financing mechanisms and businessdesigned to extract value and additional revenue from waste can unlock more investment opportunities. For example, waste management companies are leveraging carbon credits where opportunities abound, incentivizing investments with financial rewards that promote reducing emissions.
While the potential exists for curbing global warming, reducing pollution, greening cities, and creating economic opportunities through methane abatement, it currently receives only 2 of climate finance today. Platforms like IFC's Circularity Plus m to close these gaps by amplifying awareness about the possibilities and accelerating waste-to-value approaches.
Tackling the world's wasteful problem is entirely within reach but requires a collective effort from all sectors: public-private partnership, governments, regulators, investors, development institutions, climate activists, and civil society. Elevating dialogue, driving action, and sparking more investment is key to realizing our vision of cleaner, greener, healthier futures.
IBRD IDA IFC MIGA ICSID
This article is reproduced from: https://www.ifc.org/en/blogs/2024/the-world-has-a-waste-problem
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Sustainable Waste Management Solutions Global Methane Emissions Reduction Strategies Circular Economy in Waste Recycling Advanced Waste Collection Processes Enhanced Resource Recovery Techniques International Approaches to Waste Handling