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5 Platforms That Offer Plastic Credit Programs for Your Business

Plastic pollution is one of the planet’s greatest environmental challenges. Moreover, World Wide Fund found that there will be more plastic than fish in the oceans by 2050. It is not surprising that GreenPrint even writes on their website, “Plastic is not only everywhere, but it’s also on everyone’s mind.” It is big trouble, but we must find a solution to slow down the negative environmental impact.

What is plastic credit?

A plastic credit is a transferable unit that represents a specific quantity of plastic waste. Plastic crediting has developed partly in response to the challenges companies face in managing their post-consumer waste in complex waste management systems (World Wide Fund).

Plastic credits must be measurable, traceable, and verifiable. So, it must follow specific third-party requirements and methodologies to generate plastic credits. Besides that, it can be purchased by organizations and other end-users to take action on their plastic footprint. For example, 1 plastic credit equals 1 tonne of plastic footprint. So if a company has a plastic footprint of 10,000 kg, they purchase 10,000 plastic credits. Then the money spent on credits is going to organizations that recycle these materials or even to build new recycling programs.

Read also the 7 type of plastic here.

Source: BBC Good Food

Why organizations/company should be purchasing plastic credits?

RePurpose Global believes that plastic credit has the potential to solve the larger systemic issue at play, a linear economy that has created an unchecked system of production and consumption.

There are some benefits of these plastic credits movements.

  1. When an organization/company offsets their plastic production, at the same time also allows them to become plastic neutral.
  2. These credits allow companies to indirectly tackle their plastic pollution by funding initiatives that clear plastic pollution from the environment, recycle it, or do both.
  3. An organization can be lowering the cost of recycling for a vendor.
  4. A company can be lowering the cost of recovering plastics for a materials supplier.
  5. An organization or a company can claim sustainable practices without having to drastically change its day-to-day administration.
  6. The investment of the organization/company can support projects that positively impact both the local community and the global community.
  7. Plastic credit projects can forward environmental justice, employment opportunity, education, community health & gender economic empowerment. Companies can support global projects aligned with ESG, CSR, sustainability, and UN Sustainable Development Goal priorities.

Moreover, investing in plastic credits is one way to be part of positive change.

5 platforms that offer plastic credit program

Even though plastic credits are a new concept, conscious consumers and forward-thinking businesses worldwide are already adopting the platform. This is evidenced by the existence of movements or platforms in several countries in the world that can help organizations/company to purchase plastic credits.

Source: rePurpose Global

rePurpose Global, United States

rePurpose Global is the world’s leading Plastic Action Platform dedicated to reducing waste, reviving lives, and restoring nature’s balance. Through their pioneering ecosystem of solutions spanning advisory, action, and advocacy, they help people and companies calculate, reduce, and offset their plastic footprint while empowering grassroots innovators on the cutting edge of solving for our planet’s future.

Plastic Credit Exchange, Philippines

PCX is a non-profit organization that partners with sustainability-conscious businesses around the globe to responsibly offset their plastic footprint, and reduce the flow of plastic waste into our landfills and oceans. They have built a wide ecosystem of collaborators that recover, process, and recycle plastic waste, and continuously seek out the most environmentally sound solutions to plastic waste reduction. Besides that, PCX also supports environmental protection with programs that improve livelihoods.

Empower Norway – Source: UpLink

Empower, Norway

Empower was founded in January 2018 in Norway. It is a global plastic ecosystem based on the same philosophy as the Norwegian bottle deposit system. They’ve extended the idea behind Norway’s plastic exchange scheme to the global scale by using blockchain.

Blockchain system allows for seamless tracking and monetization of plastic – even in third-world countries where the majority of the population is unbanked. Tracking every aspect of the journey – from on-the- ground plastic pickup operations to eventual reuse in other products allows a level of transparency that’s attractive to brands, plastic processors, and consumers. This increases the value of waste plastic – and makes the collection a viable, revenue-generating activity for the world’s underprivileged populations.

TONTOTON, Vietnam

TONTOTON is a Vietnam-based plastic neutralization program that offers a sustainable and environmentally friendly solution to reduce ocean plastic. It was created to help solve two major problems. Firstly, collect and recycle large quantities of non-recyclable plastic before it reaches the ocean.

Secondly, address the growing sustainable market alongside the need for companies to take responsibility for their plastic footprint.

Not only that, but TONTOTON also enables local communities, especially poor waste workers, to achieve higher earnings, improve life quality, and improve access to education, services, and technology through their programs.

Waste sorting in Waste4Change Material Recovery House (Rumah Pemulihan Material)

Waste4Change, Indonesia

Waste4Change is a responsible waste management company that was founded in 2014 in Bekasi, West Java. Waste4Change provides waste management solutions from upstream to downstream which consists of consulting, campaigning, collecting, and creating. Waste Credit service by Waste4Change offers a chance for the client to actively contribute to reducing the number of waste in the environment. The client could target a specific type of waste such as PET plastic or paper and it could be included in the clients’ plastic credit initiative.

Those are the five platforms from the many movements in the world that provide plastic credit services. This is good news for all of us because plastic credits can be the potential to drive important investment in our waste management systems.

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