An annual estimate of 10 to 20 million tonnes of plastic end up in the world's oceans, according to the UN report released at a global environment assembly on Monday.

The United Nations Environment Programme pegs yearly environmental damage to marine life at US$13, which covers global financial losses in fisheries and tourism sectors in addition to the costs of cleaning up existing ocean wastes.

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"The true impacts are likely to be much more severe, as the report calculates only those that can be quantified," according to Andrew Russell, director of Plastic Disclosure Project.

Valuing Plastic, the publication released by UNEP in partnership with NGOs including Plastic Disclosure Project, discussed the extent of damage plastic on marine ecosystems as well as to industries relying on the world's oceans. The report also highlights bottom-line benefits for companies that will take measures to reduce their plastic imprint.

Scientists are worried that the current influx of waste into the ocean, which is 80% of total marine litter, may rise to 33 billion tonnes by 2050. "With a fast-growing world population, the production of waste continues to increase faster than the efforts to curtail it and prevent it from degrading the environment," UNEP Executive Director Achim Steiner wrote in the report.

According to Steiner, "Plastics undoubtedly play a crucial role in modern life, but the environmental impacts of the way we use them cannot be ignored."

Unquantifiable amounts of plastic wastes find their way into the ocean from landfill runoffs, littering, fisheries and other activities, traveling over great distances and accumulating in massive ocean gyres.

Experts are especially worried about the increasing volume of microplastics in the ocean debris. Microbeads in facial cleansers and toothpaste products are not filtered by sewage systems, thereby entering the oceans without breaking down. Like all plastic wastes, microbeads are deadly to marine life when ingested.

But scientists say solutions for a sustainable plastic future are available. The report highlights solutions such as the development of effective legislation on plastic pollution, in addition to creating waste management infrastructures for developing countries.

TagsUN, plastic wastes, UN report, $13 billion damage, plastic debris