Plastic credit standard setters welcome global plastics agreement
BVRio has today, as part of a group of voluntary standard setters under the PREVENT Waste Alliance and with support from the ValuCred consortium, released a joint statement welcoming the resolution ‘End plastic pollution: Towards an international legally binding instrument’ adopted at the fifth session of the UN Environment Assembly (UNEA-5) in Nairobi.
The statement champions the use of Plastic Credits as one part of the solution, citing that ‘plastic credits have the potential to play a powerful and complementary role on the full life cycle of plastics alongside local/national policies such as Extended Producer Responsibility (EPR) schemes, recycling or reduction laws.’
BVRio Director, Pedro Moura Costa, commented, “Over the last decade BVRio has been developing financial mechanisms which help producers meet their waste responsibilities, first through our development of Reverse Logistics Credits in Brazil, then the global Circular Credits Mechanism. We continue to champion this approach in support of the circular economy, as we have seen first hand not only its effectiveness in incentivising the removal of plastic from the environment, but the social impact that the additional income can bring to millions of informal waste pickers.
We are proud to be working as part of this group of likeminded organisations on this challenge.”
The statement was issued by PREVENT Waste Alliance along with; BVRio, Plastic Credit Exchange, Zero Plastic Oceans, Verra and rePurpose Global.