Innovation and Development

Innovation and Development

What is a Plastic Credit Unit?

1 Plastic Credit Unit (PCU) = ONE additional, verifiable, ethical TON of plastic waste recovered from the environment & responsibly disposed

 

A plastic credit is a transferable unit representing a specific quantity of plastic pollution removed from the environment and/or put into the circular economy (i.e. collected and/or recycled) in excess of what would have happened in the absence of the credit-generating activity (i.e. business as usual).

Why Plastic Exchange?

  • There is a huge gap in the industry between buyers and sellers of plastic waste management. 

  • The informal sector has many ethical issues surrounding it that make it difficult for companies to associate with them

  • PCU (Plastic Credit Unit) closes this gap and brings stakeholders together in a transparent and seamless interaction. This will be audited and traded on a trading platform.

Plastic Credit Principles

Real, Measurable & Unique

Real, Measurable & Unique

Each PCU must be unique & only be associated with a single collection or recycling activity. All plastic waste recovered must be quantifiable using recognized measurement tools.

Fair & Equitable

Fair & Equitable

All sanctioned projects must adhere to adequate, outlined social & environmental safeguards. All Projects must comply to laws of the land (EHS, human rights, fair wages, safety standards)

Additionality

Additionality

Project must exceed ‘business as usual’ scenario and demonstrate plastic waste collection and/or recycling would not occur without sale of Plastic Credits. No double counting, No free riding.

Auditable & Transparent

Auditable & Transparent

All collected and/or recycled plastic waste must be tracked, traced & verified to the required level of assurance by an accredited body. Appropriate disclosure of information is required.

Plastic Bottles to T-Shirts

At PRO India, we believe that there is a second life to plastics One of them is T-Shirts. Through this process, we not only create “Swachh Bharat” (Litter free India) but also create and improve livelihood opportunities for waste pickers who are at the bottom of the pyramid.