LOCATION:
India, Mexico, Vietnam, Brazil
TARGET GROUP:
CHALLENGES:
SOLUTION:
The project aims to establish reliable financial instruments, Plastic Credits, by integrating transparent and inclusive mechanisms throughout the entire plastic waste value chain that can help countries finance systemic improvements of their waste collection and treatment services.
DESCRIPTION:
Plastic Credits are an innovative market mechanism to provide a sustainable source of income for low-income groups in developing countries that engage in waste collection of plastics and its recovery and recycling. The aim of this project is to establish Plastic Credits (compensation payments) as a robust market mechanism, linking formal and informal waste recovery and recycling projects worldwide with companies and investors willing to support these project activities through performance-based payments and ensure their long-term financial sustainability.
The project consists of 4 components:
Q3 2021
Guide on best practices on the plastic waste management sector developed in 3 different languages: English, Spanish and Portuguese.
End 2021
Standardised process model for Plastic Credits developed (and ready to be tested in India and Vietnam)
Mid 2022
More than 1,500 circular credits issued (Brazil and Mexico) and robust principles and criteria for Circular Action Hub established
Resources
ValuCred Standard Process Model Handbook
The ValuCred Handbook introduces the key concepts of the Standard Process Model (SPM). It explains guiding principles for the integration of minimum requirements for the plastic credit market to foster greater transparency and accountability of all stakeholders involved.
Applying the ValuCred Standard Process Model (SPM) and its digital interface leads to ESG-relevant data collection. The ValuCred reporting structure is shown in an Exemplary ESG-Report of a Service Provider.
The ValuCred Standard Process Model is visualized in flow charts to show the logical and temporal sequence of the process steps: Overall Flow Chart (for both brands and service providers); Flow Chart for Brands; Flow Chart for Service Providers
Interim Report and Final Assessment Report on the Pilot Regions Goa, Maharashtra, Kerala
The pilot project supported the implementation of a waste management structure in India’s rural regions. It thus aimed to improve the current waste collection and treatment structures in the pilot regions Goa, Maharashtra, and Kerala. The project focused on low value plastics (LVP), and especially multi-layer plastics (MLP) that have no market value.
