GUIDELINES for CORPORATES
Translating Plastic Commitments into Measurable Action
The Guidelines for Leadership in Corporate Plastic Accounting are being developed jointly by the 3R Initiative, EA, South Pole, and Quantis. The Guidelines set out a vision that corporates will assess their plastic footprint and waste and identify actions within their value chain (e.g. avoiding plastic or replacing it where environmentally sensible) to take responsibility for those impacts.
In addition, corporations will invest beyond their value chains to address the plastic waste they cannot yet eliminate. Extended producer responsibility schemes (which enable producers to contribute to the end-of-life costs of products they put on the market) and plastic credits are two ways of achieving this goal. Corporates should report transparently and frequently on their efforts in order to justify making leadership claims such as “Net Zero Leakage” or “Net Circular Plastic”.
Using the Guidelines will enable companies to track their progress in terms of:
Many thanks to all who helped improve the Guidelines by participating in the first public consultation, which was open from 7 October through 8 November 2020. The first consultation version of the Guidelines is available here: draft Guidelines for Leadership in Corporate Plastic Accounting. The Guidelines will be published in early 2021.
THE PLASTIC STANDARD
Measuring the True Impact of Collection & Recycling Projects
The Plastic Waste Reduction Standard (Plastic Standard) will establish rules and methodologies to quantify and account for the collection and/or recycling of waste, incorporate social safeguards to protect project actors, and implement a verification system using independent auditors.
CIRCULAR ACTION HUB
Scaling-up Collection & Recycling by Driving Finance to Local Projects
The Circular Action Hub, developed and managed by BVRio, aims to create demand, price discovery and liquidity for 3R Initiative pilot projects and Plastic Credits certified to the Plastic Standard. It promotes a wide range of activities and funding pathways, including sponsorship, investment, and credit purchase.
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 collection 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 Plastic Credits will drive additional income to plastic recycling co-operatives and local communities which rely on manual waste collection.