Clean Oceans Initiative 2.0: A Global Effort to Combat Plastic Pollution

The Clean Oceans Initiative 2.0 marks a significant expansion in global efforts to combat ocean plastic pollution. Led by development banks, the initiative aims to invest at least 3 billion euros to tackle the escalating problem of marine plastic waste.

As a U.N. conference takes place in Nice, France, the European Investment Bank, backed by several European lenders, announced plans to target not only downstream impacts but also upstream waste sources, such as packaging innovation.

With an emphasis on better managing waste and promoting recycling, the project welcomes partners like the Asian Development Bank and hopes to engage the World Bank and others, underscoring this global commitment to reducing ocean waste.

(With inputs from agencies.)