The organisation, which is based in Manila in the Philippines, works with governments all over the world on extended producer responsibility schemes (EPR).
According to the company, the PPRS aims to provide a framework for the implementation of plastic accreditation programme. It highlighted that plastic credits assign value to plastic waste including “low value plastics” that are not usually collected.
PCX Solutions added that it this system is also important to funding as it is based on the “polluter pays principal”, which is “critical” in emerging markets as they lack collection and recycling infrastructure.
Waste
The company currently works with 29 projects across seven markets worldwide. It has said that as of March 2024 87,842 metric tonnes of plastic waste has been diverted from the environment across these projects.
According to PCX Solutions, 9 billion metric tonnes of plastic has been produced since the 1950s. It added that about 9% of this has been recycled with 19% incinerated and 72% ending up in landfilled or dumped.
The organisation claimed that if that even if global plastic levels were reduced by 40% by 2050, another “11 billion tonnes of plastic” would be generated.
Stefanie Beitien, managing director of PCX Solutions, said: “Plastic credits are gaining momentum at the global Plastic Treaty negotiations. It’s critical they follow rigorous standards to provide transparency and guarantee impact.”
The world dumps 2,000 truckloads of plastic into its oceans, rivers and lakes each day, according to the UN – which also estimates we need $1.64 trillion to beat plastic pollution by 2040.
Nanette Medved-Po, founder and executive chair of PCX Solutions, said: ““Holistic solution sets, which include both upstream and downstream measures, are needed to address the plastic pollution crisis. Plastic credits are one of the tools that we can use to mobilise funds quickly and change the unit economics of using plastic in the long run.”
Framework
The announcement from PCX Solutions comes on the back of one from the Circulate Initiative, which has published its Harmonised Responsible Sourcing Framework for Recycled Plastics.
According to the initiative this framework represents “the first-ever global effort to establish a unified, actionable set of indicators for buyers of recycled plastics and other organisations to implement responsible supply chain practices.”
The Circulate Initiative has stated that 20 million “informal” waste workers contribute to nearly 60% of global recycling efforts, but as “informal workers” they are vulnerable to inadequate pay, child labour and health risks. It has highlighted that governments need to recognise and collaborate with these workers to solve the plastic pollution crisis.
It intends to address these issues through its framework by addressing what it terms “the most pressing human rights issues” and advance supply chains for recycled plastics.
The framework was developed through consultation with representatives from 40 organisations across the value chain, including the informal sector and waste pickers. It consulted existing internationally recognised frameworks such as NextWave Plastics’ Framework for Socially Responsible Ocean-Bound Plastic Supply Chains and the Fair Circularity Principles.
‘Commitment’
Annerieke Douma, director of programmes at the Circulate Initiative, said: “Adopting responsible supply chain practices is an ethical, legal, and commercial imperative for any business operating today. We are calling on global brands to adopt the Responsible Sourcing Framework, which signifies our collective commitment to improving the lives of informal waste sector workers and waste pickers, complying with international regulations and reducing administrative burden.
“We are incredibly grateful to all stakeholders who contributed their expertise and perspectives to the harmonised framework. Together, we can create a more just future for the informal waste sector workers and waste pickers.”
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