Global Plastics Treaty: 160 financial institutions call for ‘binding rules’ to tackle plastic pollution. The statement is signed by companies from around the world that boast $15.5tr in combined assets

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1. A coalition of 160 financial institutions have today backed a joint statement calling on governments to deliver an ‘ambitious’ Global Plastics Treaty, ahead of the latest round of negotiations in Canada next week.

   Governments are set to gather in Ottawa next week for the fourth meeting of the Intergovernmental Negotiating Committee on Plastic Pollution (INC-4), where diplomats will attempt to deliver a draft treaty that can end the stand-off that has characterised the previous round of talks.

   Key players at the talks remain at loggerheads over how ambitious the new treaty should be. Some countries arguing for a robust new accord featuring binding targets and commitments to curb plastic production, as well as improve recycling rates and tackle pollution, while other nations – typically with large fossil fuel and manufacturing interests – are calling for a more voluntary approach.