New Delhi, July 9 -- A ban or phase-out of problematic plastic products could result in economic savings ranging from $4.7 to $8 trillion between 2025 and 2040, albeit with certain assumptions and limitations, according to a new study by Earth Action (EA), commissioned by the World Wide Fund for Nature (WWF).

While there may be short-term costs associated with both bans and phase-outs, these are far outweighed by the long-term benefits, the study suggested. WWF defines problematic plastics as "those with a high likelihood of ending up in the environment and potentially harmful impacts on the environment and human health."

The study also found that an immediate ban on problematic plastics currently under consideration by the United Natio...