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Plastic credits are touted by some as an attractive solution to the global plastic pollution crisis, but can these schemes really deliver long-term, or will they simply push the problem down the road – figuratively and literally?
In a newly released report commissioned by Fauna & Flora to examine a novel finance mechanism intended to reduce pollution, consultancy firm
Eunomia investigates plastic credit schemes in voluntary and compliance markets. The report provides a critical and impartial examination of the most
prominent credit-issuing schemes and examines current practices with regard to governance structures, financial flows and what happens to the plastic waste collected in return for credits, and analyses environmental and social concerns.
What are plastic credits?
Plastic credit schemes are an emerging market-driven approach to address plastic pollution. Companies can purchase plastic credits from projects, often operating in least developed countries, that collect, recycle or manage plastic waste – as a means to deliver corporate social responsibility or to ‘offset’ their plastic pollution impact.
An illustration of how current plastic credits schemes may do little to reduce plastic production and pollution. © Ed Harrison / Fauna & Flora
Plastic credit schemes: assumption verses the reality of what happens to plastics post-use: plastic credit schemes operating within the current linear system does little to incentivise a reduction in plastic production and waste generation.
Exploring Plastic Credit Schemes: Scope, risks and uncertainties - Full Report
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