• The world produces as much as 50 million tonnes of electronic and electrical waste (e-waste) a year, weighing more than all of the commercial airliners ever made. Only 20% of this is formally recycled.
• The e-waste produced annually is worth over $62.5 billion, more than the GDP of most countries. There is 100 times more gold in a tonne of e-waste than in a tonne of gold ore.
• According to report from the Platform for Accelerating the Circular Economy (PACE) and the UN E-Waste Coalition, global e-waste production is on track to reach 120 million tonnes per year by 2050 if current trends continue. 

Important highlights:

• The annual value of global e-waste as over $62.5 billion, more than the GDP of most countries. More than 44 million tonnes of electronic and electrical waste was produced globally in 2017 – over six kilograms for every person on the planet. This is equivalent in weight to all the commercial aircraft ever built.
• Less than 20% of e-waste is formally recycled, with 80% either ending up in landfill or being informally recycled – much of it by hand in developing countries, exposing workers to hazardous and carcinogenic substances such as mercury, lead and cadmium. E-waste in landfill contaminates soil and groundwater, putting food supply systems and water sources at risk.
• In addition to health and pollution impacts, improper management of e-waste is resulting in a significant loss of scarce and valuable raw materials, such as gold, platinum, cobalt and rare earth elements. As much as 7% of the world’s gold may currently be contained in e-waste, with 100 times more gold in a tonne of e-waste than in a tonne of gold ore.
• To help address the e-waste challenge, and grasp the opportunity of the circular economy, today the Nigerian Government, the Global Environment Facility and UN Environment announced a $2-million investment to kick off the formal e-waste recycling industry in Nigeria. The new investment is expected to leverage over $13 million in additional co-financing from the private sector. 

About the Platform for Accelerating the Circular Economy (PACE)

• PACE is a public-private collaboration mechanism and project accelerator dedicated to bringing about the circular economy at speed and scale. It brings together a coalition of more than 50 leaders from business, government and international organizations and is co-chaired by the heads of UN Environment, the Global Environment Facility and Royal Philips. It is hosted by the World Economic Forum.