The Effect of Waste Plastic on Environmental Degradation: A Corporate Perspective

We are living in an era where environmental challenges are at their peak, and one of the reasons for such challenges is the use of plastic.Therefore, the key objective of the current study is to test the effect of waste plastic on environmental degradation.This study is empirical in nature, and we use data from the World Bank (World Development Indicators) to testify to the said nexus.This study is conducted particularly in the context of eight (8) Asian countries across ten (10) years.By using multivariate regression models, the statistical results testify that the use of waste plastic leads to environmental degradation.These outcomes are further robustly checked by using multiple proxies for both waste plastic usage and environmental degradation.These results indicate that the use of waste plastics has harmful impacts that are becoming obvious and greatly contribute to environmental deterioration.Moreover, the higher recycling rate helps minimize the consequences of waste plastic.This study significantly contributes to environmental policies and the safety level, particularly with respect to the use of waste plastic.