New financial instruments, such as plastic credits, are emerging to incentivize plastic waste collection. These voluntary mechanisms can potentially finance waste management activities and organizations in contexts where legally binding regulations and extended producer responsibility (EPR) – which means producers are responsible for a product’s end-of-life environmental impacts – are not yet in place. However, in their current state, EPR and plastic credits focus nearly exclusively on the environmental aspects of waste collection while leaving out critical human rights and social dimensions. A study on behalf of UNEP’s SEA circular project, highlights risks, opportunities and provides insights into how plastic credits affect the informal sector, reminding businesses to be mindful of the welfare of informal waste collectors if plastic credit schemes are adopted.
Source: https://www.weforum.org/agenda/2023/03/revolutionizing-sustainability-how-plastic-credit-schemes-could-tackle-an-overlooked-crisis/
