background image

With no worldwide standards, are 'plastic credits' reducing waste or greenwashing?

author image

By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Eco-Business or enjoy below:

🗞️ Driving the news: The concept of "plastic credits" is gaining popularity globally, particularly among corporations
• This system allows entities to offset their plastic production by paying for the removal of an equivalent amount of plastic waste from the environment
• However, the lack of common standards and regulations raises questions about the effectiveness and transparency of this approach

🔭 The context: Plastic production has skyrocketed from 2 million metric tons in 1950 to more than 400 million metric tons in 2020, with expectations to double by 2040
• The plastic waste issue is growing exponentially, and critics argue that plastic credits alone cannot address the surge

🌍 Why it matters for the planet: While plastic credits aim to tackle the downstream issue of plastic pollution, they do not address the root problem of plastic production and use
• The plastic crisis requires a comprehensive solution, and relying solely on credits could lead to greenwashing and a lack of accountability

⏭️ What's next: The development of a robust and transparent plastic credit system is crucial, such a system must include worldwide standards and ensure accurate data collection and verification
• The United Nations Global Plastics Treaty, currently under negotiation, could potentially incorporate plastic credits as part of a broader strategy to combat plastic pollution

💬 One quote: "The plastic crisis is too large and imminent to be solved by a single solution or mechanism" (Verra, a nonprofit organization involved in verifying plastic credits)

📈 One stat: Due to the absence of state-funded initiatives for waste management in Senegal, which has a population of 17.9 million, experts anticipate that the nation will face a surge in mismanaged plastic waste, surpassing the levels in the U.S. by 2025

Click for more news covering the latest on environmental sustainability

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices

Related Posts

You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)