PCX Solutions has introduced Version 8.0 of the Plastic Pollution Reduction Standard (PPRS) in a bid to enhance the effectiveness of global plastic waste cleanup efforts.
This newest version aims to improve the credibility and verification of plastic pollution projects worldwide.
The challenge of plastic waste
Since the 1950s, approximately nine billion tonnes of plastic have been produced globally.
Current statistics show that only 9% of plastic waste is recycled, 19% is incinerated, and a staggering 72% is either landfilled, dumped, openly burned, or ends up in the environment.
This mismanagement of plastic waste poses severe threats to ecosystems and human health. Even with a projected 40% reduction in production by 2050, an additional 11 billion tonnes of plastic will require responsible management.
PCX Solutions collaborates with various partners to implement an audited, transparent, and verifiable system for collecting, transporting, and processing plastic waste.
Its approach converts the weight of post-consumer plastic waste into plastic credits, which can be purchased by individuals or companies to support cleanup initiatives.
These credits operate in both voluntary and compliance markets, fostering responsibility for plastic waste.
Strengthening plastic credit systems
PCX Solutions currently operates with 29 projects across seven countries, boasting a potential cleanup capacity of 250,000 tonnes.
By the end of March 2024, these projects had successfully diverted 87,842 tonnes of plastic waste from natural environments.
The PPRS framework assigns value to various types of plastic waste, including typically neglected ‘low-value’ plastics.
Plastic credits serve as a crucial funding mechanism under the ‘polluter pays principle’, essential in emerging markets with inadequate collection and recycling infrastructure.
These markets often face the most severe impacts from plastic pollution.
Stefanie Beitien, managing director of PCX Solutions, emphasised the importance of rigorous standards for plastic credits to ensure transparency and guarantee impact.
As the plastic credit sector rapidly evolves, PCX Solutions aligns with international organisations and industry experts to enhance the robustness of the PPRS.
