THE CORPORATE GUIDELINES
Translating Plastic Commitments into Measurable Action
The Corporate Guidelines aim to provide guidance for companies and other organizations looking to achieve, specifically, plastic waste reduction commitments. The Guidelines are intended to support the vision of “a circular economy for plastics, where plastics never become waste” shared by signatories to the New Plastics Economy Global Commitment.
Using the Corporate Guidelines will enable companies to track their progress in terms of
THE PLASTIC STANDARD
Measuring the True Impact of Recovery & Recycling Projects
The Plastic Waste Reduction Standard (Plastic Standard) will establish rules and methodologies to quantify and account for the recovery and/or recycling of waste, incorporate social safeguards to protect project actors 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 credits for activities that exceed baseline collection/recycling rates.
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 and beverage cartons 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 project actors (including 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.