How to combat plastic pollution with Plastic Recovery Guarantees

How to combat plastic pollution with Plastic Recovery Guarantees

Plastic pollution is a continuous threat to the environment, and there are no signs of it slowing down any time soon. Plastic production causes greenhouse gas emissions which accumulate over time and contribute heavily to global warming. In addition, plastic waste in and of itself ruins the environment and most prominently, hurts marine life. To not overshoot the 1.5°C target, aggregate global greenhouse emissions must stay within a remaining (and quickly declining) carbon budget of 420–570 gigatons of carbon (source).Plastiks wants to help companies make a difference by taking action in the fight against plastic waste. We realize that by transforming plastic recovery into a marketing tool for companies it makes plastic recovery profitable in a way that also requires very little resources and effort.Below we explain how it works and help you understand how you can take action .

The problem with the lack of accountability 

As of now, plastic waste is everywhere and in everything. Covering beaches, landfills, cities, destroying marine life, and ultimately ending up in our food as microplastics. But, why exactly plastic is ending up all over the natural environment, even though most types are recyclable?The main reason for this problem is the lack of traceability and accountability within the value chain of plastics. The waste management industry – from plastic recovery to actual recycling - suffers from issues of transparency and deception, proving the fact that there is a problem that needs solving.The data speaks for itself. Less than 10% of plastic ends up being recycled. And this number is even worse when considering certain types of plastic like Polypropylene, for example. Of the 56 million tons being produced each year, only 3% are being recovered and recycled.Our main goal is to revolutionize the plastic waste industry in a modern and profitable way. This, by merging plastic recovery data with NFTs, makes Plastiks the first web3 ecosystem and utility NFT marketplace that fights plastic pollution.

Plastic Recovery Guarantees (PRG) - Fully transparent plastic recovery  

Carbon offsetting means a reduction or removal of emissions of carbon dioxide or other greenhouse gases made in order to compensate for emissions made elsewhere. The carbon offsetting market happens through the commercialization of “carbon credits”. If we bring the concept of “offsetting” to the plastic sector, the companies that produce or use plastic to perform their economic activities can also sponsor the collection of plastic waste being recovered and recycled by several projects around the world, ensuring that this material does not ends up in the environment. In our marketplace, the now well-known "plastic credits" are called Plastic Recovery Guarantees (PRG), and represent proof of recovery, which guarantees that a certain amount and type of plastic has been recovered somewhere in the world.While most “plastic credit” projects on the market today simply offer companies different sponsorship packages, Plastiks goes beyond and provides a whole transparent ecosystem in which every player is interconnected and can engage with others. Our platform embraces plastic recovery projects in locations where it is most needed and connects them with sponsoring companies on a recovery guarantee system with clear guidelines and prices. Our PRG gives both individuals and companies an equal opportunity to take verifiable and transparent environmental action. A company does not have the need to invest to communicate its efforts, since they will be available on its profile for public consultation.Plastic credits are a great and easy way to fight plastic pollution because they are neither limited by geography nor restricted by impact potential. However, the concept of plastic credits is flawed and lacks legal backing and sustainable market understanding. That’s why we wanted to create a marketplace with complete transparency.By using blockchain technology in tracing plastic waste, it’s possible to provide a fully traceable and accurately labeled record of recovered materials. From the disposal of plastic waste to the marketing of this material in its upward cycles to its recycling, Blockchain certification ensures that all activities leading to certification are stored in a transparent and traceable way. In order to fully live up to our vision of averting climate change, we decided to partner with the 100% carbon neutral blockchain, Celo.

How Plastiks combines NFTs and Plastic Recovery Guarantees (PRG) 

Worldwide plastic recovery projects are using our platform to upload their plastic recovery data, selling it to companies and individuals around the world in the form of PRG. Thanks to the NFT technology, we can disclose verifiable impact stories of how and where plastic has been recovered. This enables our partner companies and artists to mint and sell NFTs on the marketplace - backed by plastic recovery data as “Plastic Recovery Guarantees”.Plastiks ultimately increases traceability of plastics while creating an additional stream of revenue for impactful projects that are reducing plastic waste in the environment.Individuals who decide to purchase utility NFTs from our marketplace, receive benefits provided by the company selling the NFT. Plus, every NFT on our marketplace is backed with a Plastic Recovery Guarantee and supports plastic recovery projects, green initiatives, and local communities around the world, not only generating positive environmental, but also social impact.

Take action 

The world is well aware of the problem with plastics. Conscious consumers from all around the world demand companies to make changes for a more sustainable future. In 2019 alone, 47% of consumers stopped using their favorite products because the brand no longer aligned with their beliefs of protecting the environment, which is a strong motivator at this point in time (source). This suggests that brands need to pay close attention to what consumers want and take verifiable action in protecting the environment.Plastiks platform allows for companies to do this. It is an easy way to make a direct difference.Companies and brands create NFTs on the Plastiks marketplace to bring utility and value to their customers and to sponsor recovery projects that help clean the world of plastic. Companies can then share their positive impact and attract new customers.

If tackling plastic pollution is a priority in your business, book a meeting with one of our advisors and discover the different ways you can make a difference with Plastiks and achieve your ESG goals.