Plastic Credit Program
Solving the global plastic waste crisis will require solutions that build waste management infrastructure to allow for the recovery of plastic in the environment at scale. Plastic credits are a market-based mechanism to drive private sector capital to on the ground projects removing environmental plastic and creating next life solutions, including recycling, repurposing, and co-processing.
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We work with companies as they navigate their plastic sustainability journey. A suite of plastic sustainability solutions is tailored to measure, goal set, strategize, implement, and communicate operational and ESG priorities. We help with the following:
- Plastic Footprint Assessments
- CDP Plastic Disclosure
- Plastic Mitigation Strategy
- Recycled Content Sourcing
- Recycling Feedstock Sourcing
- Policy Advisory
- Corporate Social Responsibility
The social impact of crediting projects can parallel environmental benefits. The most acute plastic waste problems occur in developing parts of the world. Plastic credit projects can forward environmental justice, employment opportunity, education, community health & gender economic empowerment. Companies can support global projects aligned with ESG, CSR, sustainability, and UN Sustainable Development Goal priorities.
To implement plastic credits, a business should understand the potential organizational benefits, which include:
– Mitigating a specific volume, product line, polymer type, or geography of a plastic footprint
– Matching the unavoidable tonnes of plastic of a business
– Lowering a project’s cost of sourcing environmental plastics or producing recycled plastic
– Helping achieve plastic ESG and sustainability goals
– Certifying plastic as being ocean bound, marine or other sources and geography
– Employee education and engagement opportunities with content for CSR communication
What is a Plastic Credit?
A plastic credit represents collecting or recycling one tonne of plastic material, which can be transferred between organizations. They can be used by companies and other entities who desire to address their plastic footprint but are otherwise unable to do so in a practical or economically viable way. Plastic credits can mitigate external environmental plastic waste beyond a company’s control and the unavoidable volume of a plastic footprint. However, a plastic credit cannot be used by a company to claim it is part of their recycled plastic feedstock.
In generating plastic credits, there should be rigorous processes and working from a methodology that is separate from the actual project to ensure that the plastic recovery and recycling is:
- Additional – Recovery or recycling that otherwise would not occur
- Validated and approved on an independent, public protocol
- 3rd party audited & verified
- Individually identified, tracked, and retired on a public registry
- Assessed & documented for project social & environmental co-benefits
ClimeCo provides companies with a global portfolio of plastic credit projects with a diversity of geography, impacts, and circular economy solutions. Together we can help solve the ocean plastic waste crisis, scale recycling, and create new waste infrastructure. Plastic credits are an investment in ecosystem restoration, biodiversity conservation, the well-being of communities, sustainability & being a better business.
At ClimeCo we have a zero-landfill goal, meaning we minimize plastic sent to landfill as much as possible. Plastic waste has an opportunity at second life through recycling, repurposing and/or co-reprocessing. We can help plastic credit buyers to assess, reduce and mitigate their plastic footprint, developing a long-term strategy for plastic reduction, mitigation, and recycling.
Whether or not your business is among the 7000 early CDP Plastics respondents, plastics disclosure will likely be on the cards soon for most companies. Plastics is soon to be a material disclosure area for your company.
Part II outlines the key metrics corporate leadership will find interesting when planning and budgeting for their plastic mitigation strategy. Once the scope and execution of a plastic footprint has been mapped, planning internal buy-in to implement mitigation actions is essential.
The global plastic pollution crisis will be solved by the partnering of governments, NGOs, philanthropy, and the private sector, simultaneously implementing various solutions at scale. Negotiations for the global plastics pollution treaty are underway to address the plastic crisis comprehensively.
The article by our Sr. Manager of Plastics and Recycling, Leticia Socal, and Plastic Program Director, Chris Parker, discusses how companies taking action on plastic sustainability is good for business.
Consumers’ expectations of companies to shift to more sustainable practices have grown. Companies started committing to plastic reduction, recyclability, recycled content, and eliminating problematic plastic. There is so much to do, but where do we begin?
We understand the importance of setting an example for honest and transparent reporting of our environmental, social, and governance (ESG) performance. That’s the goal of ClimeCo’s 2021 Impact Report, our first external report for environmental, human capital, economic, and governance issues.
A ClimeCo campaign bringing coastal awareness to the B2B world was recently honored with a 2022 Drum Award in the B2B for Good category. The global awards program recognizes best practices, companies, and people within the marketing and communications industry.
A plastic credit is an environmental commodity that represents the collection or recycling of one ton of plastic waste, which can be transferred between organizations. They provide a transparent, accountable, and verified funding structure to support ecosystem restoration, create new waste management infrastructure and scale recycling and repurposing capacity.
Watch the BBC News coverage of The WaY Project, ClimeCo’s initial Verra plastic credit project with our partner Conceptos Plasticos S.A.S. New classrooms are built with UNICEF Côte d’Ivoire from bricks made of 100% recovered plastic waste.
ClimeCo is thrilled to announce that we have launched our first verified Plastic Credit Project on Verra for Development under our Plastic Credit Program. The Women and Young empowerment (WaY) project is an initiative from Conceptos Plasticos; a Columbian company focused on the circular economy with environmental, social, and economic impact.
ClimeCo Enters Strategic Partnership with Heng Hiap Industries, an Integrated Plastic Recycling Company
ClimeCo, a leader in the development and management of environmental commodities, is pleased to announce the formation of a strategic partnership with Heng Hiap Industries (HHI), an advanced recycled plastic manufacturer.
It is indisputable that plastics have made their way into every aspect of our lives, and they’re here to stay. While plastics play an important role and offer many benefits, there is growing concern over the waste accumulating in landfills, rivers and oceans, and the stomachs of animals and marine life.
ClimeCo, a leader in the management and development of environmental commodities, has partnered with TONTOTON, a project developer in Vietnam that removes no-value plastic from the environment to generate the world’s first plastic credit from an independent protocol and 3rd party verification audit.
Plastic credit projects can address various interrelated problems: ecosystem degradation, inadequate waste management, biodiversity loss, health and economic risks, and carbon-fueled climate change.
We have marketing material to help you learn more about plastic credits, how they are created, how they can help your company’s sustainability goals, and how you can support these types of projects.