SAUDI ARABIA – MVW Lechtenberg Projektentwicklungs- und Beteiligungsgesellschaft GmbH, a leading consulting firm specializing in alternative fuels for the cement and related industries, has announced the launch of a transformative plastic waste management project in Saudi Arabia.
This initiative is in collaboration with Empower, a provider of innovative traceability solutions.
MVW Lechtenberg & Partner Middle East has formed a joint venture with the Saudi Investment Recycling Company (SIRC) to enhance the project’s capabilities and reach.
SIRC, the government of Saudi Arabia’s executive arm for waste management, is a wholly-owned subsidiary of the Public Investment Fund (PIF).
The project aims to process approximately 3 million tonnes of municipal solid waste annually to produce refuse-derived fuels (RDF) in six governorates.
Once fully implemented, it is estimated to reduce CO2 emissions by approximately 1,791,300 tonnes per year.
Empower’s blockchain technology will play a crucial role in this project, ensuring transparent tracking and management of plastic waste from collection to recycling and RDF conversion.
This system will allow real-time monitoring of waste management activities, providing valuable data for stakeholders including municipalities, governments, and environmental organizations.
A key innovation in this project is the integration of Plastic Credits and RDF systems. Plastic Credits incentivize responsible waste disposal by providing financial rewards for verified plastic waste collection and recycling activities.
These credits can be traded or sold to entities aiming to neutralize their plastic footprints or comply with environmental regulations, thereby fostering a more circular economy.
Plastic Credits will help close the financial gap between the cost of collecting and processing plastic waste and the market price for recyclable materials and RDF.
By providing a sustainable revenue stream, these credits will ensure the long-term financial viability of this waste management initiative, making it more attractive to investors and stakeholders.
The verification of these credits will be based on the GPx traceability standard developed by GPN Corporation, a member of the International Green Purchasing Network (IGPN).
This standard ensures high levels of transparency, traceability, and accountability, which are crucial for building trust and securing participation from various stakeholders.
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