Lessons Learned from Biodiversity and Carbon Offsets – An Application to Plastic Offsets

This research examines the concept of plastic offsets as a market-based mechanism to address the global plastic pollution crisis. While plastic offsets are currently being proposed as an approach to channel resources into waste reduction and recycling initiatives, their effectiveness and integrity are debated. This paper explores lessons learned from the established frameworks of biodiversity and carbon offsets to inform the design of effective plastic offset schemes. The analysis focuses on key features of biodiversity offsets: additionality (ensuring conservation outcomes are new and would not have occurred otherwise) and permanence (ensuring conservation outcomes persist long-term), leakage and co-benefits. Challenges in achieving these features in plastic offsets, such as proving genuine additionality and ensuring long-term ecological integrity, are discussed. By drawing parallels, the research highlights potential pitfalls and best practices for developing robust plastic offset programs. Ultimately, this paper aims to contribute to the discussion around plastic offsets, providing insights into if they can be used as a mechanism to effectively reduce plastic pollution and contribute to a circular economy.