World Bank sees US$6bil wasted on plastics in Southeast Asia

Plastic waste and other rubbish washed up on a beach in Koh Samui, in the Gulf of Thailand, on Jan 19, 2021- AFP

WASHINGTON (Bloomberg): Southeast Asian countries lose out on as much as US$6 billion a year as most of their single-use plastics are thrown out rather than recovered and recycled, the World Bank said in a new study.

More than 75% of recyclable plastics in Malaysia, Thailand and the Philippines are left to waste, representing a "significant untapped business opportunity” in the circular economy, according to the report issued Tuesday (March 23).