BVRio's mission is to foster sustainable development by harnessing market-based solutions. Several years ago, we pioneered a similar scheme called “The Reverse Logistics Crediting Mechanism” in Brazil. The project was based on collaboration with local waste-picker cooperatives. It resulted in the recovery and sale of over 150,000 tonnes of waste which brought tangible benefits to the environment, local communities and the waste-pickers themselves.
We see the 3R Crediting Mechanism as a more universal and internationally applicable approach that is still based on the same values. We have teamed up with Nestlé, Danone, Veolia and Tetra Pak to jointly develop an innovative and flexible mechanism to scale-up plastic waste recovery and recycling while making a sustainable social impact.
Verra develops and manages standards that help the private sector, countries, and civil society achieve ambitious climate action and sustainable development goals. Verra’s global standards frameworks serve as linchpins for channeling finance towards high-impact activities that tackle some of the most pressing environmental issues of our day. Verra’s robust, practical and transparent standards can accurately quantify benefits and drive investment in responsible, high-performing projects and programs.
Verra recognises the plastic waste issue that is plaguing the world and has become a critical concern for a number of companies and consumers. Recognising the need for new incentives to 1) catalyse the responsible design and use of packaging materials, 2) support companies in reducing their plastic waste footprints and 3) stimulate the development of new plastic recovery and recycling projects around the world, Verra helped launch the 3R Initiative (3RI).
Through the 3RI, Verra is developing the Plastic Recovery and Recycling Project Accounting Standard (Plastic Standard), which is part of the crediting mechanism to drive finance towards plastic waste recovery and recycling activities
"We want to turn the plastic pollution crisis into an opportunity to safeguard fragile ecosystems, save millions of dollars, and unleash innovation benefits along the corporate value chain. The 3R Initiative helps us do exactly that, which is why we've thrown our weight behind actively co-developing and piloting corporate plastic standards for the market, drawing on our expertise in project development and climate advisory,"
– Patrick Burgi, Co-director Funds & Platforms
Co-Founder, South Pole.
Through our work in the food sector, we know that the issue of plastic waste is huge – and one that needs to be tackled collaboratively by global food companies, NGOs, supply chain companies and service providers working together. Developing a new Project Standard to measure the true impact of recovery and recycling projects, and a Crediting Mechanism, we can help drive plastic waste reduction around the world.
Our knowledge and technical expertise around the development and implementation of global standards, ensuring accreditation rules are met in full and in verification processes and outcomes, will help support this initiative fully, whilst ensuring the needs of all stakeholders are met, with positive outcomes of a reduced plastic burden on the planet.
Tetra Pak is the world's leading food processing and beverage cartons solutions company. Working closely with our customers and suppliers, we provide safe, innovative and environmentally sound products that each day meet the needs of hundreds of millions of people in more than 160 countries. With over 25,000 employees around the world, we believe in responsible industry leadership and a sustainable approach to business.
Joining the 3R initiative aims to bring together companies like ourselves that have made ambitious commitments about packaging collection and recovery from leakages, plastic use reduction, recycling and resource use, and helps us translate those commitments into measurable actions. It is also an opportunity to inform and create a common set of global standards, enabling circular materials leadership and increasing the availability of recycled materials.