I found the answer googling and yahooing.
Condom Sense: Condoms and the Environment
http://ezinearticles.com/?Condom-Sense:--Condoms-and-the-Environment&id=344965
So, in the end, what is the best way to dispose of your condoms? The best thing is to wrap it in a bit of toilet paper or paper towel (or any other biodegradable material: think paper bases such as paper bags) and then to put it in the garbage. Don’t wrap your condom up in plastic, as then it certainly won’t biodegrade. The good news is that the s***n and vaginal fluid on the condom certainly will biodegrade, and might facilitate the condom biodegrading
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