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 PROJECT STANDARD
Measuring the True Impact of Recovery & Recycling Projects
The role of the Project 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.
THE CREDITING MECHANISM
Scaling-up Recovery & Recycling by Driving Finance to Local Projects
The Project 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 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
Sale of plastic credits
Consumer goods companies, producers and retailers
Formal or informal waste collection and separation
Sale of recyclable plastic
Recycling companies and intermediaries
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 Project 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.