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Assembled plastic objects found on the UK coast, 1994-2019. Photo: Steve McPherson

We have sipped, packaged and played our way into a global plastics crisis.

Why it matters: Activist consumer groups are pushing for less use, and to some extent, less production, while industry aims for increased recycling.

The big picture: Plastics demand is projected to only increase — and the footprint of plastic pollution with it.

  • Plastics made from oil and natural gas are an integral part of our daily lives, from cell phones to shipping materials to lifesaving medical devices.
  • But we use many plastics only once — and promptly discard them.

Driving the news: This week, Canada announced it plans to ban single-use plastics — likely bags, straws, plates, etc. — by 2021.

  • Canada's move is part of a broader trend at various levels of government to restrict or ban certain types of plastics.
  • And there's a growing "zero waste" movement on social media.

Microplastics — bits of plastic less than 5 millimeters in length — have been found lurking in the deep waters off California, on otherwise pristine mountain peaks in the Alps and in the gastrointestinal tracts of sea creatures large and small.

  • It’s quite possible that, as a legacy of our consumer habits, each of us is consuming microplastics on a regular basis as well.
  • What's not yet known is whether it's taking a toll on our health.

What's happening: There are calls to ban single-use plastics and force companies to rely less on petrochemicals. That industry is taking notice, trying to stay ahead of consumer backlash by focusing on recycling.

Details: Roland Geyer, the lead author of a comprehensive 2017 study on plastic production and end use, estimates that about 9,200 million metric tons of virgin plastics have been produced since 1950.

  • Geyer's study projected that by 2050 about 12,000 million metric tons of plastic waste could be in landfills or the natural environment.
  • Globally, less than 20% of plastics were recycled in 2015. In the U.S., it's worse. Just 9% of plastics were recycled that year, according to the most recent data from the Environmental Protection Agency.
  • In 2018, China banned most plastics headed for its recycling processors, shutting down the U.S.'s largest recycling export market and compounding our waste problem.

Since most plastics come from fossil fuels, our plastics dependency is also exacerbating climate change.

  • A recent report from an environmental group found that by 2030, plastics-related emissions could reach 1.34 gigatons per year — equivalent to the emissions released by more than 295 new 500-megawatt coal-fired power plants.

Unlike with other global environmental problems, consumers have more control over how this story plays out in the future.

  • Efforts to replace plastic straws and switch from single-use plastic water bottles to reusable containers can make a difference when it comes to marine pollution, says Kyle Van Houtan, chief scientist at the Monterey Bay Aquarium.

Go deeper:

Go deeper

Felix Salmon, author of Capital
5 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

Trump nominee Christopher Waller confirmed to Fed board

Christopher Waller at a Senate Banking hearing earlier this year. (Photo: Sarah Silbiger/Getty Images)

The Senate voted 48-47 on Thursday to confirm Trump nominee Christopher Waller to the Federal Reserve Board of Governors — filling one of the two vacant slots on the influential economic body.

Why it matters: It's one of the last marks left on the Fed board by Trump, who has nominated five of its six members.

49 mins ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.