Financial instruments are designed to incentivize waste producers to divert waste from landfills toward recycling. Financial instruments include both rewards (recycling incentives) and charges (pay-as-you-throw and deposit refund schemes). Recycling incentives schemes are essentially different from pay-as-you-throw (PAYT) schemes as they consist of payments or rewards to encourage people to recycle more, typically with vouchers for individuals, vouchers for communities or payments to individuals. In addition to direct incentives in the form of vouchers, an effective recycling incentive is also the reduction of waste fees for residents willing to separate more waste at source or when waste recycling targets at local level are achieved. From the economic point of view, these instruments are preferable to direct regulation due to their greater efficiency.

Waste prevention depends fundamentally on changes in the attitudes and behavior of individuals and businesses, and on a transformative shift in industrial processes and product design. Waste prevention refers to practical actions that reduce the quantity of materials prior to materials and products becoming wastes. Waste prevention is therefore fundamentally different from waste management activities, as waste management activities are implemented after materials become waste. Employing waste prevention strategies can effectively reduce the volume of waste that must be managed, placing less strain on local waste collection and management programs. Waste prevention includes Avoidance – eliminating the need for a product or material; Source Reduction – eliminating waste and pollution at source through process changes; and Direct Re-use/Prolonging Use – extending product life, serving as a diversion of waste flows. 

Waste collection rates are ultimately dependent on local factors – governance, geography, population density, consumption patterns, public awareness, amongst others. A staggering 90% of waste produced in low-income countries are openly dumped or burned.  These same cities are growing at a rapid pace, but without adequate waste management systems in place, the ocean and our global coastlines will only serve as a dumping ground for yet more plastic debris. The imperative is for cities to develop waste management programs that increase collection rates and eliminate leakage during transport to reception facilities. No other solution can promise such an immediate or lasting impact.

Reuse extends product and material life-cycles, to reduce the waste stream. Innovative reuse models can unlock significant benefits, enabled by digital technologies and shifting user preferences. Such models can help deliver a superior user experience, customize products to individual needs, gather user insights, build brand loyalty, optimize operations, and save costs. 

Plastic production is expected to double over the next 20 years. According to the Ellen MacArthur Foundation, only 14% of plastic packaging is collected for recycling. Plastic that is not collected is not only a lost economic opportunity, but its also a threat to the environment. Increasing plastic collection rates is first and foremost, in order to recapture valuable materials for recycling. Developing local recycling infrastructure and second use markets can extract value from materials that are often discarded.