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 component:
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
1000 circular credits issued (Brazil and Mexico) and robust principles and criteria for Circular Action Hub established