Plastic pollution poses a significant challenge to the environment, biodiversity, and human health. Each year, the world produces 300 million tons of plastic waste, equivalent to the weight of the planet's entire human population. Only 9% of plastic products worldwide are recycled due to a pervasive throw-away culture and inefficient policies for managing single-use plastic. Over time, plastics fragment into smaller pieces, distributed across ecosystems by wind and rainfall. Marine and terrestrial wildlife accidentally ingest these smaller plastics, leading to a build-up of toxins in tissues. These toxins are transferred to other species, including humans, through the food chain. This document proposes two policy options to address this issue: (a) replacing conventional plastics with more environmentally friendly alternatives or (b) transitioning to a circular economy focused on reducing, reusing, repairing, and recycling. We urge the United Nations Environment Programme (UNEP) to pursue the latter by leading the development and implementation of a comprehensive global policy agenda for the appropriate and effective management of plastics. This would include the development of financial, environmental, and social estimators to quantify, manage, and reduce plastic waste. A UNEP-led global plastic policy agenda has the potential to standardize and regulate plastic production, consumption, and waste management and ultimately reduce the negative impact of plastics on ecosystems and human health.