RECO Indonesia partners with PCX to fund coastal cleanup

RECO, an end-to-end plastic recycling company with centres across Indonesia, has partnered with us to sell verified plastic credits to fund two coastal cleanup projects in Ambon and South Sulawesi.

Indonesia is at the epicentre of the world’s plastic waste crisis. The country generates approximately 7.8 million tons of plastic waste annually, and according to the World Bank estimates, nearly 5 million tons goes uncollected, or is disposed of in open dumpsites or improperly managed landfills every year. Rural areas generate two-thirds of Indonesia’s mismanaged plastic waste, due to very limited waste collection rates.

The team at RECO focus their work on remote, coastal areas where waste management is limited or non-existent. To learn more about this project, and how you can support their work, visit us at www.pcxmarkets.com or reach out to our team to set up a call at info@pcxmarkets.com.

Read full article here.

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Featured Press

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Nikkei Asia: PCX founder details impact of Philippine EPR law

Southeast Asia is at the center of the world's plastic waste crisis, and it's groundbreaking to see a solution from this region. PCX founder Nanette Medved-Po says that companies in the country have responded to last year's Philippine Extended Producer Responsibility Act by preparing plans to recover a large portion of the waste that remains after their products are used.

The Philippines offers a model for UN negotiators working on the global plastics treaty, as well as leaders of any country that want to take bold, immediate action today, writes Medved- Po.

Read full article from Nikkei Asia here.

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BloombergNEF Report on plastic credits

A new BloombergNEF report projects that credits could help tackle close to 30% of mismanaged waste and divert around 9.6 million tons of plastic scrap back to recycling value chains by 2050.The report, which cites PCX as a leading player in the industry, estimates that global annual revenue from the sale of plastic credits could reach $4.2 billion in 2050, adding that "plastic credits have the potential to make a significant impact in cleaning up legacy plastic waste while contributing to the financing of recycling infrastructure, especially in developing markets.”

‍This report, titled “Offsetting Plastic Pollution with Credits: A Primer”, is available to NEF subscribers and through Bloomberg terminals.

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Events

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Webinar: Plastic Responsibility in Indonesia

PCX, in collaboration with Britcham Indonesia, hosted a webinar titled “Info Session on the Roadmap of Waste Reduction (EPR Law) Update and the Role of Plastic Responsibility in Supporting Waste Reduction Goals”

We had the pleasure of hosting Fazri Putrantomo, Policy Analyst at the Directorate of Waste Reduction, Ministry of Environment and Forestry; PCX Indonesia Country Lead, Faisal Yusuf; and our Regional Sustainability Lead, Paulo Ribeiro. Together, we delved into Indonesia's roadmap for plastic waste reduction and the pivotal role of businesses in this journey.

From discussing emerging funding mechanisms like plastic credits to emphasizing the importance of innovation in plastic products and services, including packaging, the session shed light on how companies can align with circular economy principles.

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PPRS Version 8 launch: Global experts to discuss the need for robust standards

Join PCX Solutions as they lead a discussion with global experts, focusing on the evolving plastic credit landscape and the importance of robust standards in the fight against plastic pollution.

This session will highlight the key improvements with the launch of PPRS Version 8, focusing on the need for credible standards in the nascent field of plastic credits.