Verified impact with Plastic Credits to support where it's needed the most
Verified Impact with Plastic Credits
The following framework explains how Precycle credibly and transparently measures and reports on others plastic footprint and the effectiveness of our actions to reduce it.
What is a Plastic Credit?
Plastic credit: a virtual equivalent of actually processed plastic waste
A plastic credit = 1 kilogram of plastic waste recovered & recycled. Our Impact Partners in the Global South generate these credits under conditions certified by Plastic Waste Reduction & Ocean Bound Plastic Neutral.
“Price of a credit is determined based on factors such as - type of plastic recycled, location of waste recovery, etc.“
Where does the money go?
We direct your credit contribution to our waste management partners in the global south
When a brand or individual offsets their plastic footprint through plastic credit, Precycle directs the credit amount towards our Impact Partner, the ethical recyclers in developing nations.
“15% of the contribution amount is kept aside as a service fee to support Precycle operations. This percentage may vary based on the terms agreed with our brand partners.“
Manuel, Legal & Finance
How do we ensure transparency?
Tracking & reporting of the Triple Impact
On ground, waste workers and recyclers use the contribution to ethically collect & recycle plastic waste equivalent to the credits. We use blockchain technology to monitor operations onground and share this information with brands on their precycle dashboard
“Precycle monitors the activities using state of the art blockchain technology to trace the plastic waste from the locations it's collected till its end destination.“
Max, Founder & Product Development
Who is our Impact Partner?
Saahas Zero Waste
Saahas Zero Waste is a socio-environmental enterprise with 17 years of experience in waste management & resource recovery. They provide end to end waste management services in different parts of India. Our Impact Partner is an registered, empanelled vendor with the government in Bengaluru, Noida & Chennai to manage waste. Currently, they work with 80+ clients across Bangalore, Chennai, Hyderabad, Mumbai and Goa – and manage 77 tonnes of waste a day.
“We need to recognise that there is a high cost attached to proper management of waste. Subsidising this cost is likely to have an adverse environmental and/or social impact. A glaring example of this are the appalling working conditions of the huge informal waste sector in the developing world. We can contribute in many ways to improve the current situation and one of them is to pay the actual price for holistic waste management where environmental and social costs are not comprised.“
Annie, Policy & Regulatory Compliance of SZW