One of the final outputs from the initiative is the release of a myth-busting explainer video about the concept of plastic credits.
Plastic crediting is an innovative financial tool that drives investment into plastic waste collection systems and new recycling ventures. Companies can compensate for the plastic pollution they cannot yet prevent by investing in projects that generate Plastic Credits. Transparent reporting, monitoring and independent auditing of waste management and recycling systems ensure that investment goes to credible and additional activities that improve the status quo.
BVRio Director, Pedro Moura Costa, said at the launch of the initiative in 2019, “To address the problem of plastic pollution, we need market-based solutions that can be used at scale and replicated worldwide. Market instruments such as credits provide the basis for a cost efficient and environmentally-sound solution for plastic recovery and recycling.”
Speaking about the success of the initiative in 2021, Moura Costa added, “The systems are now in place to ramp-up activity and investment in this sector. We are excited with future prospects of improving waste management worldwide, in a socially, and environmentally, robust way.”
Visit www.3rinitiative.org for more about this initiative.
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