Plastic pollution is a global challenge that requires coordinated actions and innovative solutions. Plastic crediting offers a results-based mechanism to connect public and private sector finance with specific activities that address plastic pollution. By quantifying and certifying the results of plastic pollution reduction initiatives, plastic credits provide a means for organizations to financially support these projects and contribute to the transition to a circular economy.
The report highlights the potential benefits of plastic crediting, such as increased funding for plastic waste management projects, enhanced accountability and transparency, and the promotion of sustainable practices. However, it also acknowledges the challenges and risks associated with plastic crediting, including the lack of a common definition and standards, the potential for greenwashing, and the need for robust governance and enforcement. The report also recognizes the need for plastic credits to supplement, not replace, comprehensive waste management investments and policies.
To address these challenges, the report provides a set of recommendations for key stakeholders. These recommendations include the development of a centralized, independent, and neutral governance framework, the establishment of clear guidelines for plastic crediting programs and associated claims, and the fostering of market development through pre-purchase facilities and clear pricing guidelines.
