On June 8th of each year, the world comes together on World Oceans Day to celebrate the ocean and highlight its critical role in sustaining all life on our shared planet. The ocean generates our oxygen, regulates our climate, produces many of our food sources, and strengthens our economy. However, this vast, blue expanse covering over 70% of the Earth’s surface1, is under siege from many different pressure sources including plastic pollution and marine debris.

      While pelagic areas far from the coast and the deep sea were once thought to be untouched frontiers, today, no corner of the ocean is free from the reach of human debris. From the Great Pacific Garbage Patch to the microscopic particles in the deepest trenches, plastic pollution and marine debris have become one of the most pressing environmental issues of our time.

      There is no single silver bullet to solving the marine debris issue, but individuals, the public sector, and the private sector can all play a role in solving this crisis including making more sustainable choices, investing in nature positive strategies, and implementing innovative regulatory approaches and incentives.

      The tide of trash: An overview

      Marine debris is defined as any persistent solid material that is manufactured or processed, and directly or indirectly, intentionally or unintentionally, disposed of or abandoned into the marine environment.2 Some of the more common types of marine debris include consumer debris such as plastic water bottles and plastic bags, and derelict fishing gear such as nets, lines, and traps.

      The statistics are staggering. Based on current research, it is estimated that:

      • Over 400 million tons of plastic are produced globally each year. Approximately 8-11 million tons of this plastic enters the ocean annually3
      • Around 80% of this pollution originates from land-based sources, with pollution being carried from river sources responsible for a vast majority4
      • Nearly two-thirds of plastic waste comes from plastics with useful life of under five years, with 40% coming from packaging, 12% from consumer goods and 11% from clothing and textiles5
      • Estimated that nearly 2% of all fishing gear, comprising 2963 km2 of gillnets, 75,049 km2 of purse seine nets, 218 km2 of trawl nets, 739,583 km of longline mainlines, and more than 25 million pots and traps are lost to the ocean annually6

      Debris impacts: Ecologically and economically

      The debris problem is a collection of several distinct but overlapping threats. The presence of man-made materials in the ocean leads to several ecological and economic ramifications.

      The ecological toll is devastatingly high for biodiversity. Marine debris has been documented to impact more than 700 species, from coastal vegetation, to plankton, invertebrates, fish, cetaceans, sea turtles and seabirds.7 Wildlife such as marine mammals, sharks, and shellfish can become entangled or trapped in discarded fishing gear such as nets, longlines, and traps, leading to injury or death. This gear is often referred to as “ghost gear” because it continues to fish indefinitely until removed from the environment. This ghost gear can also create major havoc on critical habitats such as coral reefs and seagrass beds by crushing and smothering them, as well as destroying the structural integrity of reefs by becoming entangled in them. These habitats serve as vital storm barriers and biodiversity hotspots, effectively crippling the ocean’s natural resilience.

      Marine debris items can also impact species through ingestion. When debris items are swallowed, it can block their stomach impacting digestion, puncture the inside of their bodies, or even create a false sensation of being full ultimately leading to starvation. Additionally, plastic never fully goes away but continues to break down into smaller pieces called microplastics. This makes it easier for species such as zooplankton and small fish to eat, which then works its way up the food chain including humans. The health risks to humans associated with ingesting different microplastics and their chemicals are still being studied.

      From an ecosystem perspective, the “hidden price tag” of plastic is reaching a breaking point. Recent estimates suggest that plastic pollution costs the global economy billions of dollars annually in damage to key sectors including tourism, fishing, maritime, and small businesses. Tourism dependent communities are among the hardest hit as a significant increase in beach litter and coastal debris can lead to millions of lost visitors, translating into millions of dollars in lost revenue and thousands of jobs for those communities.8

      Furthermore, maritime and fishing industries face direct operational hits. Debris can cause expensive vessel damage such as fouled propellers and clogged intake valves. For the fishing industry, derelict gear directly competes with active fisheries by killing off the very stocks that commercial fishers rely on for their livelihoods. Lost gear is also very expensive for fishers to replace. Removing derelict fishing gear can increase commercial landings as well as increase gear efficiency. For example, a recent study showed that removing approximately 10% of derelict traps and pots from the marine environment would increase annual landings from major crustacean fisheries globally by US$831 million.9

      Lastly, preventing and removing marine debris from the environment can create cost saving measures for coastal communities by reducing the amount of funding spent on fixing infrastructure impacted by debris such as stormwater systems, by conducting cleanups, and by improving the health of habitats, which in turn can help increase resiliency to storm events that could lead to reduced costs during disaster response and recovery efforts.

      Turning the tide: Innovative approaches

      While the problem is immense, we have seen a surge in innovative approaches aimed at reclaiming our oceans. One of the most effective ways to clean the ocean is to stop trash before it gets there.

      Individuals can make more sustainable choices in their daily lives such as using reusable items and avoiding being a consumer of single use plastic products. Additionally, fishers can be responsible with their gear as well as following proper disposal procedures for their unwanted gear. Individuals can also look to volunteer in their communities by attending local waterway or beach cleanups, and encouraging their family, friends, and coworkers to join them.

      As we move beyond individual responsibility, businesses across the private sector can unlock nature-positive strategies that view a healthy ocean as a critical piece of natural capital. For example, by adopting the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD), businesses can quantify their plastic footprint with the same rigor as carbon emissions. This transparency is unlocking a new wave of nature-related investment, where capital is funneled into projects that restore marine ecosystems.10 For the private sector, these are no longer just philanthropic gestures; they are risk mitigation efforts designed to build long-term resilience against the collapsing biodiversity that fuels the global economy.

      A key component to any solution is the circular economy, a model that aims to decouple economic growth from the consumption of finite resources. Instead of the traditional “take-make-waste” approach, companies can look to redesign products for longevity, repairability, and high value recycling. For the fishing industry, this could be something like a “gear as a service” model, where manufacturers retain ownership of gear such as nets, ensuring they are tracked via GPS and returned for recycling rather than being lost or discarded at sea. Simultaneously, venture capital can be invested into material innovation replacing single-use plastics with materials that dissolve harmlessly if they ever reach the marine environment.

      The private sector can also work with the public sector by advocating for and promoting innovative approaches such as international plastic regulations and policies that can help reduce single-use plastics, set recycling targets and improve waste management systems, or establish marine protected areas. Specifically, businesses can support ongoing negotiations for the UN Global Plastics Treaty, such as the Business Coalition for a Global Plastics Treaty, which is a coalition of businesses from across the plastics value chain, non-governmental organizations, and financial institutions in support of a legally binding treaty. The treaty has the potential to create a coordinated approach to tackle plastic pollution and reduce plastic production through a circular economy approach.11

      Strong Marine Protected Areas (MPA) for our blue planet happens to be the action theme for World Ocean Day 2026. Businesses can support national governments with the establishment of marine protected areas. In our view, creating strongly regulated MPAs is essential to turning global commitments into real conservation outcomes. Implementation will require collective effort and accountability across both the public and private sectors.


      How KPMG can help

      KPMG firms have experience in supporting organizations to establish their nature and biodiversity strategy for oceans, as well as a circular strategy for their business. KPMG professionals can help organizations integrate marine economic considerations and circular business models within their corporate and climate strategies.

      We help organizations to identify and access funding for ocean related investments and projects, aligning and reporting against the evolving measures from the TNFD, and supporting and developing plastic reduction transition strategies based on new and evolving regulations and circular business models. Additionally, we can help measure companies’ circular performance through the Global Circularity Protocol (GCP) for Business.

      Our coastal and marine service offerings provide experience supporting MPA development and implementation, as well as climate scenario planning and assessment with more focus on the marine realm. This includes more support with planning and collection, tracking, and interpreting and using propriety data analytics.


      Get in touch

      Charles Grisafi
      Senior Associate,
      KPMG in the US
      cgrisafi@kpmg.com


      1  https://globalocean.noaa.gov/The-Ocean/

      2 https://marinedebris.noaa.gov/discover-marine-debris/what-marine-debris

      3 https://oceanblueproject.org/plastic-pollution-guide/

      4 https://oceanblueproject.org/plastic-pollution-guide/

      https://www3.weforum.org/docs/WEF_Circular_Industry_Solutions_2024.pdf

      6 https://www.science.org/doi/10.1126/sciadv.abq0135

      7 https://www.sciencedirect.com/science/article/abs/pii/S0025326X14008571

      8 https://marinedebris.noaa.gov/why-marine-debris-problem/economic-loss

      9 https://www.nature.com/articles/srep19671

      10 https://tnfd.global/

      11 https://www.businessforplasticstreaty.org/

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