Plastic Credit Exchange
Plastic Credit Exchange (PCX) is a project based in the Philippines that has been designed to combat plastic pollution and create sustainable practices while promoting a circular economy. The coverage area mainly includes Metro Manila, Cebu, and Davao. The main stakeholders are the businesses, governmental agencies, and communities that have established and operate plastic collection and recycling centers to help manage the plastic credit system. It is also to raise awareness on plastic pollution and sustainable practices.
The PCX works with businesses to calculate their plastic footprint, feasible strategies to reduce plastic consumption, and identify a baseline. Based on that baseline, the PCX then aids the business in purchasing plastic credit to offset their plastic production, ensuring they meet the target reduction. These plastic credits are then used to fund research and development for eco-friendly alternatives for community waste management projects. The PCX has implemented technology solutions such as the plastic tracking and traceability system where it tracks and monitors the plastic waste through its lifecycle to ensure transparency and accountability.
Government agencies like Department of Environment and Natural Resources (DENR) and Environmental Management Bureau provides guidance and coordination to the PCX. Technical expertise and funding are also provided by the UNDP and ADB.
Plastic Credit Exchange (PCX) is a project based in the Philippines that has been designed to combat plastic pollution and create sustainable practices while promoting a circular economy. The coverage area mainly includes Metro Manila, Cebu, and Davao. The main stakeholders are the businesses, governmental agencies, and communities that have established and operate plastic collection and recycling centers to help manage the plastic credit system. It is also to raise awareness on plastic pollution and sustainable practices.
The PCX works with businesses to calculate their plastic footprint, feasible strategies to reduce plastic consumption, and identify a baseline. Based on that baseline, the PCX then aids the business in purchasing plastic credit to offset their plastic production, ensuring they meet the target reduction. These plastic credits are then used to fund research and development for eco-friendly alternatives for community waste management projects. The PCX has implemented technology solutions such as the plastic tracking and traceability system where it tracks and monitors the plastic waste through its lifecycle to ensure transparency and accountability.
Government agencies like Department of Environment and Natural Resources (DENR) and Environmental Management Bureau provides guidance and coordination to the PCX. Technical expertise and funding are also provided by the UNDP and ADB.
The PCX program has invested more than US$3 million in circular economy and clean up more than 40,500 tonnes of plastic waste, according to their 2022 impact report. One of the programs supported by the PCX is Aling Tinderas, a waste-to-cash network led by women entrepreneurs who serve as plastic collection points for their community. They have collected more than 460 thousand kilograms of plastic waste in 2022.
They have also begun expanding to other countries outside the Philippines, with offices in Singapore and the USA. Current operating countries now include India, Thailand, and Indonesia.
The pandemic posed major challenges to the movement of the PCX, as there were restrictions in place limiting their movement. They were thus forced to shift attention to other priorities.
Another challenge was the difficulty in tracking and verifying the impact of plastic waste reduction efforts. To address this, the PCX has partnered with auditing firms to ensure transparency and accuracy in their reporting.
Collaboration between different stakeholders such as the government, local communities, NGOs and private sectors is needed to replicate this practise. In addition, financial incentives can be an effective way to promote better practices in businesses and implementers can explore innovative financing models. For transparency and accountability, improved technology can be used in the supply chain such as blockchain technology. In addition, local stakeholders need to be considered throughout the process and can be part of the solution.
The kNOwWaste Knowledge Platform was developed through a Project Cooperation Agreement funding by UNEP on 2016. The platform provides data and information on holistic waste management to stakeholders in Asia and the Pacific region. The platform was developed with the following aims: generate and consolidate data or information on holistic waste management, transform data into easily comprehensible outputs for use by key stakeholders, map out and disseminate information on international waste management projects under the GPWM and UNEP projects as well as other international partners, and provide capacity building support through dissemination of data or information support for relevant stakeholders on holistic waste and waste management system.
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