THE CORPORATE STANDARD
Translating Plastic Commitments into Measurable Action
The Corporate Standard will enable companies to reliably assess and report on their plastic reduction commitments. It will recognise existing methodologies and lead to the consistent reporting of plastic footprints.
Using the 3R Corporate Standard will enable companies to track their progress in terms of
THE PLASTIC STANDARD
Measuring the True Impact of Recovery & Recycling Projects
The Plastic Recovery and Recycling Project Accounting Standard will establish rules and methodologies to quantify and account for the recovery and/or recycling of waste, incorporate social safeguards to protect waste collectors, and implement a verification system using independent auditors.
The role of the Plastic Standard is to assess, verify and report on the impact of projects that increase plastic recovery and/or recycling, and to generate plastic credits for activities that exceed baseline collection/recycling rates.
FIRST PUBLIC CONSULTATION
This public consultation period is open for 60 days, from 26 February until 26 April
Public comments on the draft Plastic Standard will ensure that it is practical for use by all types of plastic waste recovery and recycling activities and that it meets corporates’ needs. We invite anyone involved or interested in plastic waste recovery and recycling activities, as well as private and public entities interested in directing financial support to such activities, to review the document
THE CREDITING MECHANISM
Scaling-up Recovery & Recycling by Driving Finance to Local Projects
The Crediting Mechanism for plastic recovery and recycling projects will benefit local communities while cleaning the environment. By adding real value to plastic waste, the Mechanism will boost the supply of recycled content and, therefore, reduce the production of virgin plastic.
The Plastic Crediting Pathway
The path to a truly circular economy must also recognise the social dimension and positively impact people's lives and livelihoods. By establishing environmental and social safeguards, the Plastic Standard will ensure that all recovery and recycling efforts provide sufficient benefits to local economies and create sustainable livelihoods for local communities.
It will help ensure that the highest social safeguards are fully integrated into the project so that all participating waste pickers/collectors have safe working conditions.
The Crediting Mechanism will drive additional income to plastic recycling co-operatives and local communities which rely on manual waste collection.