In this opinion piece, Sarah Perreard, co-founder of Earth Action, argues that the absence of a global plastics treaty exposes businesses to increasing financial and reputational risks. She explains that without coordinated international regulation, companies must navigate a fragmented and evolving set of national rules, alongside growing scrutiny from investors and consumers. The article emphasizes that businesses should not wait for a treaty to be finalized and instead proactively assess and reduce their exposure to plastic-related risks across their value chains. It frames the regulatory gap as a source of uncertainty that is already impacting corporate decision-making.