Updated: Aug 28
Plastic: when you don’t dispose of it properly it’s a terrible problem, but when you dispose of it well, it is an unparalleled material for the modern economy. However, a report by the World Economic Forum, the Ellen MacArthur Foundation, and McKinsey & Company showed that a full 32% of the 78 million tons of plastic packaging produced yearly flows into our oceans. That’s like dumping a garbage truck of plastic into the ocean every minute. This needs to change, and the good news is there are a number of players working to make this happen. A promising one hails from the Philippines.
An Integrated Platform with Scalable Environmental & Social Impact
Meet Plastic Credit Exchange (PCEx): a company that has built a wide ecosystem of collaborators that recover, process and recycle plastic waste, and continuously seeks out the most environmentally sound solutions to plastic waste reduction. It is the 1st substantial plastic offset company globally, and are a non-profit at that. Today PCEx announced that it has stopped 3,462,380 kilograms of ocean-bound plastic since it was established.
How does it work? PCEx takes pledges from companies of all sizes and industries, and funds operations that prevent plastic waste from ending up in nature. It then engages communities of waste collectors and aggregators and organizes this informal sector to create dignified work and offer improved livelihood. PCEx manages the whole chain of transport, processing, and recycling, and ensures sustainability and no leakage in the environment. For this whole process, PCEx provides full transparency and documentation.
Plastic waste recovery through PCEx’s platform is a win-win collaboration for all parties involved.
To businesses and consumers it offers:
• the guarantee that plastic waste is disposed of in an ethically and environmentally sound manner
• the recapture of materials throughout a supply and value chain; a step in the direction of a more circular economy
• the mitigation of negative environmental impact and related penalties
To processors it offers:
• the partial substitution of raw materials for fossil fuels
• the opportunity to be a key player in depolluting the environment
Still, it is the community and the environment that stand to benefit the most, as PCEx helps to:
• conserve non-renewable sources of energy and materials
• save landfill space and reduce the toxic gases released by the improper disposal of waste
• increase the income of informal waste picker societies in the Philippines
• promote a cleaner and healthier environment for everyone
PCEx was founded by the same team behind Hope in a Bottle (HOPE), a company that pledges 100% of its profits from bottled water towards the building of public school classrooms in the Philippines. Not wanting to solve one problem in education while leaving behind a trail of plastic, HOPE set and achieved the audacious goal of becoming Plastic Neutral in 2018.
On founding PCEx, Founder and Chairwoman Nanette Medved-Po said, “Realizing that a small player in a low margin business could afford to be responsible for 100% of its plastic footprint, we decided to share our process publicly to help other companies find their own paths to neutrality. The interest was immediate and overwhelming, prompting us to establish The Plastic Credit Exchange, which would allow anyone from anywhere to offset their own plastic footprints.”
On PCEx’s recent achievement she added, “The progress we’ve made today is the product of manufacturers, consumers, and processors who are just as passionate as we are about protecting our planet. We are excited to be making great strides and to be sharing the knowledge and technologies to other countries and regions.”
If you are a business owner or operate a company, and are looking to offset your plastic footprint or explore going Plastic Neutral, click here to get started.
About The Plastic Credit Exchange
Plastic Credit Exchange (PCEx) is a Philippines-based non-profit organization that partners with sustainability-conscious businesses around the globe to responsibly offset their plastic footprint, and reduce the flow of plastic waste into our landfills and oceans.
PCEx has built a wide ecosystem of collaborators that recover, process and recycle plastic waste, and continuously seeks out the most environmentally and sound solutions to plastic waste reduction. PCEx supports environmental protection with programs that improve livelihoods and scale up social impact.