The Plastic Credit Exchange makes good use of plastic waste

At first glance, the Plastic Credit Exchange (PCX) looks a lot like a carbon offset program. You buy credits equal to the amount of plastic waste you produce, and PCX invests those credits to offset your activity. Yes, the concept borrows from carbon offset programs, but it differs in its fundamentals, transparency and execution, according to PCX founder Nanette Medved-Po.

Carbon is abstract, she explains, difficult to quantify and, for most people, difficult to grasp in a transactional context. Plastic, on the other hand, is tangible. It’s easier to get a feel for the notion of a ton of plastic – “offsetting” that to balance your plastic footprint doesn’t require a leap in conceptual thinking.

PCX is explicit about how these credits are used, as shown in the chart below.

Image courtesy of Plastic Credit Exchange

PCX also partners with local communities to collect plastic waste, prioritizing women micro-entrepreneurs through its Aling Tindera waste recovery program in low-income countries. The program started in the Philippines, one of the countries in Asia/Pacific that has been particularly affected by plastic pollution and lacks the resources to manage it effectively.

All credits and offsets are recorded on a blockchain ledger to ensure transparency and traceability, PCX says. He partners with audit firms PWC and EY to ensure end-to-end transparency, and he has worked with companies like PepsiCo, Nestlé and Colgate-Palmolive in the Philippines. Late last year, he launched his program in the United States.

Interested in knowing more? So listen to our interview with Medved-Po in our Plastic Possibilities podcast series, and if you want to get involved, head over to Plastic credit exchange website.

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