Opening soon: Public Consultation for Project Accounting Standard

Public comment on the draft Plastic Recovery and Recycling Project Accounting Standard will open on 26th February

19 February 2020 – More than 350 million tons of plastic are being used every year and just a fraction of this is being recycled. There is a clear need to scale up recovery and recycling activities and increase accountability for plastic waste reduction efforts.

The 3R Initiative is developing a market-based approach to transparently and sustainably increase the value of plastic waste and incentivise new activities that support the circular economy. We invite you to mark your calendars for an upcoming opportunity to shape the field of plastic waste recovery and  recycling: public comment on the draft Plastic Recovery and Recycling Project Accounting Standard (Plastic Standard) will open on 26th February.

The Plastic Standard will be used to create the greatest possible value for local plastic waste recovery and recycling activities while helping corporates to meet their zero plastic waste goals. The Plastic Standard will enable transparent assessment, verification and reporting not only on an amount of plastic waste recovered or recycled (which may be issued as credits), but also that the recovery or recycling is conducted in an environmentally and socially responsible manner.

Public comments on the draft Plastic Standard will ensure that it is practical for use by all types of plastic waste recovery and recycling activities and that it meets corporates’ needs. We invite anyone involved or interested in plastic waste recovery and recycling activities, as well as private and public entities interested in directing financial support to such activities, to review the document.

You’ll receive an email from us announcing the opening of the public consultation. The consultation will be open for 60 days. We look forward to your feedback.

Many thanks,

The 3R Initiative Secretariat