PCX Markets launches Plastic Credit System to enhance Circular Economy
The approach supports both environmental sustainability and economic growth in underserved regions
SINGAPORE – Singapore-based PCX Markets has unveiled its PCX Circular Plastic solution, a pioneering initiative designed to accelerate the transition to a circular economy.
The platform enables brands to fund plastic waste collection and recycling through audited plastic credits while offering access to high-quality recycled resins, such as PET, HDPE, LDPE, PP, and PE, in forms like flakes, pellets, and powders.
This dual approach supports both environmental sustainability and economic growth in underserved regions.
“Companies that purchase PCX Circular Plastic can trust that the post-consumer recycled content they’re buying comes from rigorously audited recycling projects,” said Sebastian DiGrande, CEO of PCX Markets, in a statement.
“Our transparent process, tracked and verified through a public registry, ensures accountability at every step.”
By bundling verified plastic credits with recycled resin from trusted partners, PCX Circular Plastic offers a scalable solution to meet brands’ virgin plastic reduction targets and downstream recovery goals.
“When businesses invest in this solution, they’re not just meeting recycled content targets, they’re creating jobs in communities hardest hit by plastic pollution,” DiGrande emphasized.
In related developments, the European Investment Bank has announced a US$3.5 billion commitment to fund marine plastic removal infrastructure, signaling growing global support for circular economy efforts.
According to UN reports, the urgency of addressing plastic waste is stark.
Only 9% of global plastic waste is recycled, with 19% incinerated and a staggering 72% ending up in landfills, dumps, or openly burned, causing severe ecological and health impacts.
The United Nations estimates a need for US$1.64 trillion by 2040 to tackle this crisis, with the Global South facing the greatest infrastructure deficits.
A report highlights that emerging markets received just 6% of plastic circularity investments from 2018 to 2023, highlighting the funding gap PCX aims to bridge.
Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE
Be the first to leave a comment