Establishing global climate resilience to persistent organic pollutants through the private sector: a call to reform institutional standards of the International Finance Corporation

Abstract

Persistent organic pollutants (POPs) are toxic synthetic chemicals prevalent in the environment that have been linked to serious health effects including various cancers, hypertension, and diabetes. Owing to their unique physicochemical properties, POP accumulation in the environment poses a serious risk to public health. Over the last few decades global climate change (GCC) has exacerbated increasing temperature and extreme weather events, which reduce the storage capacity of POPs in the environment and precipitate their global remobilization. If we remain unprepared to block GCC-associated release of POPs globally, our adaptation and resilience to climate change will be jeopardized. The Stockholm Convention, an international treaty that aims to reduce and eliminate POPs, is not fully enforceable due to a lack of environmental funds for governments of developing countries. One way to circumnavigate these financial hurdles is to create new markets for POP removal through the private sector. We recommend the International Finance Corporation, the private sector arm of the World Bank, reform its institutional regulations to consistently guarantee funding for proactive measures against POPs. We additionally recommend investing in local POP removal infrastructure projects that encourage economic growth.