Philippines-based plastic waste solutions company Plastic Credit Exchange (PCX) recently announced its expansion into the US, where it will make available its plastic-waste offset program to American companies such as Herb + Flora, Peanut Butter & Co. and Touchland Hand Sanitizer.
Plastic Credit Exchange allows its business partners to purchase credits to offset their plastic footprint. PCX then uses the funds to facilitate the recovery, transportation, and processing of post-consumer plastic waste alongside a wide ecosystem of partners around the world. During the process, PCX works with local partners on the frontlines of the plastic pollution crisis, prioritizing women micro-entrepreneurs in vulnerable communities, who manage waste-to-cash systems and collect plastic waste from neighborhoods, landfills, and oceans. PCX then channels the plastic to the most environmentally preferred processors available. The entire process — from aggregation to diversion and elimination — is verified by third party auditors including Ernst & Young and PwC. To ensure full accountability, transparency and traceability, all credits and offsets are registered in PCX’s public blockchain ledger built and powered by technology partner Microsoft.
Brand partners who pledge to neutrality, and become certified through a third-party audit, may utilize PCX’s eco-labeling to signal that their products are part of the responsible consumption movement. Partners who have achieved plastic neutrality include PepsiCo Philippines, Colgate-Palmolive Philippines, and more.
Commenting on its new partnership, Peanut Butter & Co Founder & CEO Lee Zalben said:
“We’re very excited to be able to take direct responsibility for the impact our product packaging has on the environment and take positive action toward reducing pollution at the same time,” says. “It’s not just the right thing to do, it’s good business, too. We know our customers care about this issue, and having Plastic Credit Exchange certify our brand as plastic neutral provides clarity and transparency around our efforts in this area.”
The US generates more plastic waste than any other country in the world. More than half of it is exported overseas, burdening developing countries. PCX’s program aims to keep plastic out of nature while providing economic opportunities to partners who collect plastic waste from their neighborhoods. That said, offsetting plastic waste isn’t a substitute for reducing the amount generated in the first place. PCX founder Nanette Medved-Po clarified, “At PCX, we view plastic offsetting as only one part of what should be a comprehensive solution set for businesses to take responsibility for their plastic waste, but not as an excuse to pollute.”
One strategy to reduce overall plastic waste is to replace plastic packaging with sustainable paperboard products.
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December 03, 2021 at 12:45AM
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Plastic Credit Exchange Brings Plastic-Waste Offsets to The US - Environment + Energy Leader
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