Plastic Credit Exchange (PCX), a platform for companies to buy credits to offset their plastic footprint, has been launched in the United States. Launched in 2019 in the Philippines, PCX says it is expanding its global network of plastic neutral partners, which now includes Herb + Flora, Peanut Butter & Co. and Touchland Hand Sanitizer. These U.S.-based companies are the latest to join multinational partners, including PepsiCo Philippines, Nestlé Philippines and Colgate-Palmolive Philippines, in pledging to offset their plastic footprint while fueling a circular economy.
According to PCX, with the United States generating more plastic waste than any other country in the world, and more than half of that waste being exported overseas, it has made developing countries, such as the Philippines, the epicenter of the global crisis. PCX’s plastic offset program aims to keep plastic out of nature while providing economic opportunities for partners who collect plastic waste from their neighborhoods in some of the most polluted areas in the world.
“The Philippines is ranked 3rd for ocean plastic pollution. It’s at the epicenter of the crisis partly because it’s a low-income community that lacks systems and infrastructure to manage waste, but also because many Asian countries have become dumping grounds for waste exported from developed countries,” said Nanette Medved-Po, Founder of PCX. “Our expansion into the United States gives more companies the opportunity to stop the flow damage caused by plastic waste in the countries most affected by the crisis. At PCX, we see plastic offsetting as part of what should be a comprehensive solution for businesses to take responsibility for their plastic waste, but not as an excuse to pollute.”
Under the PCX program, business partners can purchase credits to offset their plastic footprint. PCX then works with a broad ecosystem of partners around the world to facilitate the recovery, transport and processing of post-consumer plastic waste. Partner brands that commit to neutrality and are certified by a third-party audit can use PCX eco-labeling to signal that their products are part of the responsible drinking movement. Partners that have achieved plastic neutrality include Peanut Butter & Co., PepsiCo Philippines, Colgate-Palmolive Philippines, and more.
“We are very pleased to be able to take direct responsibility for the impact of our product packaging on the environment and take positive steps to reduce pollution at the same time,” said Lee Zalben, Founder and CEO of Peanut Butter & Co. “It’s not only the right thing to do, it’s also good business. We know our customers care about this issue, and the fact that Plastic Credit Exchange certifies our brand as product neutral plastic brings clarity and transparency around our efforts in this area.”
In the process, PCX is working with local partners on the front lines of the plastic pollution crisis, prioritizing women micro-entrepreneurs in vulnerable communities, who manage waste management systems and collect plastic waste from neighborhoods, landfills and oceans. PCX channels this plastic into the most environmentally friendly processors available. The entire process – from aggregation to diversion and disposal – is verified by third-party auditors, including Ernst & Young and PwC. To ensure full accountability, transparency and traceability, all credits and offsets are recorded in PCX’s blockchain public ledger, built and powered by technology partner Microsoft.