Targeting waste collection and recycling incentives at regions with the greatest potential to reduce mismanaged plastic waste could achieve the same reduction in plastic leakage as a 5% cap on virgin plastics production, according to an Oxford Economics study commissioned by the International Council of Chemical Associations (ICCA). The targeted approach would produce 33.6 million metric tons of additional recycling, about 68% more than the 19.9 million metric tons under the production-cap scenario. It would also reduce total plastic prices by 0.2%, compared with an 8.5% increase under the cap, and reduce global household welfare by $0.5 billion rather than $128.4 billion. Global output would rise by $0.2 billion under targeted policies, versus a $20.2 billion decline under the cap. The report says the production cap would reduce household welfare in every modeled region, with the largest declines in East Asia and Western Europe. Recycling gains under the targeted scenario would be greatest in South Asia and East Asia. The study supports a global agreement that mobilizes finance, builds capacity and prioritizes solid waste collection for the 2.7 billion people worldwide who lack access.