Table of Contents

Clean Oceans Initiative 2.0: A Global Push to Combat Ocean Plastic Pollution

Clean Oceans Initiative 2.0 Aims to Raise $3.4 Billion to Fight Ocean Plastic Pollution

Introduction

Plastic pollution in the world’s oceans has reached alarming levels, threatening marine ecosystems, biodiversity, and human livelihoods. In response to this escalating crisis, the Clean Oceans Initiative (COI) 2.0 was officially launched at the 2025 United Nations Ocean Conference. With an ambitious goal to raise $3.4 billion, COI 2.0 aims to significantly reduce plastic waste entering the oceans, support sustainable waste management systems, and promote circular economy practices across the globe.

The Evolution of the Clean Oceans Initiative

Background and Initial Launch

The original Clean Oceans Initiative was launched in 2018 by a coalition of European development banks, including the European Investment Bank (EIB), the French Development Agency (AFD), and Germany’s KfW Development Bank. The initiative initially aimed to finance projects that reduce plastic waste and improve wastewater management in developing countries, particularly in Asia, Africa, and Latin America.

By 2023, the first phase of the initiative had mobilized over €2 billion in financing and supported more than 30 projects worldwide. These projects ranged from improving solid waste collection systems in coastal cities to investing in innovative recycling technologies and community-based waste management programs.

Transition to COI 2.0

Building on the success of its first phase, the Clean Oceans Initiative 2.0 was unveiled at the 2025 United Nations Ocean Conference. The upgraded initiative sets a new financial target of $3.4 billion and expands its scope to include more comprehensive strategies for tackling ocean plastic pollution. COI 2.0 emphasizes cross-sector collaboration, innovation, and scalability to ensure long-term impact.

Objectives and Strategic Pillars of COI 2.0

Key Objectives

Mobilize $3.4 billion in public and private investments by 2030.
Prevent at least 10 million tons of plastic waste from entering the oceans.
Support over 100 projects in developing countries with high levels of plastic leakage.
Promote circular economy models and sustainable production and consumption patterns.
Enhance local capacity building and community engagement in waste management.

Strategic Pillars

Infrastructure Development: Invest in waste collection, sorting, and recycling infrastructure in coastal and riverine areas.
Policy and Governance: Support governments in developing and enforcing regulations to reduce single-use plastics and improve waste management systems.
Innovation and Technology: Fund research and development of biodegradable materials, plastic alternatives, and advanced recycling technologies.
Education and Awareness: Launch global campaigns to raise awareness about the impacts of plastic pollution and promote behavioral change.
Partnerships and Collaboration: Foster multi-stakeholder partnerships involving governments, NGOs, private sector, and local communities.

Global Impact and Case Studies

Case Study 1: Waste Management in the Philippines

The Philippines is one of the world’s top contributors to ocean plastic pollution due to inadequate waste management infrastructure. Under the original COI, a project in Manila focused on upgrading waste collection systems and establishing community-based recycling centers. With COI 2.0, this project is being scaled up to include digital tracking of waste flows and partnerships with local entrepreneurs to create value from recycled materials.

Case Study 2: River Clean-Up in India

The Ganges River is a major conduit for plastic waste entering the Bay of Bengal. A COI-supported initiative in Varanasi introduced floating barriers to capture plastic waste, coupled with awareness campaigns targeting local communities. The project also provided training for waste pickers and integrated them into formal recycling systems. COI 2.0 aims to replicate this model in other major river systems across Asia and Africa.

Case Study 3: Circular Economy in Kenya

In Kenya, COI 2.0 is supporting a public-private partnership to develop a circular economy hub in Mombasa. The hub includes a plastic recycling plant, a training center for green jobs, and a marketplace for recycled products. This initiative not only reduces plastic leakage into the Indian Ocean but also creates employment opportunities and stimulates local economies.

Scientific and Economic Rationale

Scale of the Problem

According to the United Nations Environment Programme (UNEP), over 11 million metric tons of plastic waste enter the oceans each year. If current trends continue, this figure could triple by 2040. Plastic pollution affects over 800 marine species, many of which are endangered, and poses serious risks to human health through the food chain.

Economic Costs

The economic impact of marine plastic pollution is estimated at $13 billion annually, including losses in tourism, fisheries, and maritime industries. Investing in prevention and sustainable waste management not only protects the environment but also yields significant economic returns. A 2020 study by the Pew Charitable Trusts found that reducing plastic leakage by 80% by 2040 could save governments $70 billion globally.

International Collaboration and Funding Mechanisms

Multilateral Support

COI 2.0 is backed by a coalition of international financial institutions, including the European Investment Bank, the World Bank, and regional development banks. These institutions provide concessional loans, grants, and technical assistance to eligible countries and projects.

Private Sector Engagement

Private companies are increasingly recognizing the business case for sustainability. COI 2.0 encourages corporate participation through blended finance models, where public funds are used to de-risk private investments. Companies involved in packaging, logistics, and consumer goods are key stakeholders in this effort.

Community Involvement

Local communities play a crucial role in the success of COI projects. The initiative emphasizes participatory approaches that empower communities to take ownership of waste management solutions. This includes training programs, micro-financing for small businesses, and inclusive governance structures.

Clean Oceans Initiative 2.0 Aims to Raise $3.4 Billion to Fight Ocean Plastic Pollution

Table of Contents