The Plastic Ponzi Scheme: Unsustainable growth in plastic production is distanced from its socioecological damage

Petroleum-derived plastic, the miracle product from the 20^th century that has transformed our welfare societies, is at a cross roads. The current unsustainable growth in plastic production, usage and mismanaged waste is confronted with the ecological and social damage it inflicts (1). The plastics industries are responsible for nearly 4% of present-day global greenhouse gas emissions, a figure that may rise to 14% by 2050 (2) under the redirection of petroleum resources from the automotive to the polymer sector. The degradation of plastic produces microplastic particles that enter our bodies, releasing toxic additives that disrupt endocrine function and cause disease (3). In this presentation we draw attention to the parallels between a fraudulent Ponzi investment scheme and unsustainable plastic production growth. The Ponzi analogy is used in sustainability science as a ‘cost-benefit’ analysis for the causes and impacts of global change and environmental degradation (4), and also applies to the global plastics pollution crisis. Unsustainable growth in plastic production has been possible because economic activities are distanced, spatially, temporally, and socially from their environmental impacts. Under the Plastic Ponzi Scheme, we all benefit from plastics but fail to cover its environmental costs, and therefore collectively live in conditions created by fraud. Modeling of global plastics dispersal suggests that even under the most ambitious OECD plastic policy scenarios, future generations will be exposed to up to six times higher microplastic concentrations in air, water and food (5). The main cause for increasing future exposure in model forecasts is the continuous fragmentation of legacy mismanaged plastic waste on land and its dispersal to Oceans. Policy instruments should therefore not only aim at preventing new plastics leakage to Oceans, but should also address legacy plastic waste on land. In light of the scientific evidence for global plastics pollution, failure to address the current Plastic Ponzi Scheme will ensue further harm and suffering. The inconvenient truth is that every Ponzi scheme carries the certainty of its own downfall.

 

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(4) S. Madhavan, R. Barrass, Unsustainable Development: Could it be a Ponzi Scheme? SAPIENS https://journals.openedition.org/sapiens/1083 (2011).

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