{"id":425,"date":"2021-10-11T12:05:42","date_gmt":"2021-10-11T12:05:42","guid":{"rendered":"https:\/\/wordpress.circularactionhub.org\/?p=425"},"modified":"2021-12-09T09:40:08","modified_gmt":"2021-12-09T09:40:08","slug":"reducing-plastic-pollution-the-3r-initiative-way","status":"publish","type":"post","link":"https:\/\/www.circularactionhub.org\/reducing-plastic-pollution-the-3r-initiative-way\/","title":{"rendered":"Reducing plastic pollution the 3R Initiative way"},"content":{"rendered":"
Just over three years after its launch, the\u00a03R Initiative<\/a>\u00a0which was founded by BVRio, Verra, Nestl\u00e9, Danone, Tetra Pak and others, has transformed from an idea to help solve the problem of plastic pollution into a fully functioning market-based approach with its component products now progressing independently.<\/figure>\n
The 3R Initiative, named for its objectives of\u00a0reducing<\/strong>\u00a0plastic waste,\u00a0recovering<\/strong>\u00a0plastic from the environment and increasing\u00a0recycling<\/strong>\u00a0rates, is the first global effort designed to reduce the plastic and packaging footprint of consumer goods companies, producers, retailers and others by standardising their efforts and creating tradable instruments that can scale up reductions via a market-based credit scheme. Following the completion of the initial phase, the initiative\u2019s three major products are now all progressing in different directions.<\/figure>\n
The\u00a0Guidelines for Corporate Plastic Stewardship<\/a>, which set out best practices for companies that aim to reduce plastic waste and achieve circular use of plastic, will move forward as a key input of the\u00a0World Business Council for Sustainable Development\u2019s Corporate Plastic Footprinting and Disclosure<\/a>\u00a0(WBCSD) workstream.<\/figure>\n
The\u00a0Plastic Waste Reduction Standard<\/a>, managed by\u00a0Verra<\/a>, sets out requirements for new or scaled-up plastic waste collection and recycling projects to quantify their impact in a credible, transparent and consistent way to generate Plastic Credits. It has many impact-driven projects in the pipeline and a diverse and passionate multi-stakeholder advisory group.<\/figure>\n
The concept of \u2018plastic credits\u2019 was pioneered by BVRio, who since 2013 has operated a system of Reverse Logistics Credits in Brazil. BVRio\u2019s experience on this subject was important for conceiving the architecture of an international plastic credits market under the 3R Initiative. In this context, BVRio created the Circular Action Hub, the first global platform to connect buyers and sellers of waste management services worldwide. The Hub now features over 100 initiatives in 40 countries looking to connect with investors to support their packaging recovery activities and foster the circular economy either through direct financial support or through the acquisition of credits. The Hub is the world\u2019s first online marketplace for circular economy-related projects. These outcomes have been successful due to the collaboration between 3R Initiative members and stakeholders.The first phase of the initiative has now reached its end, but the transformation of how we avoid plastic waste will continue.<\/p>\n

\u00ad\u00ad\u00ad\u00adOne of the final outputs from the initiative is the release of a myth-busting explainer video about the concept of plastic credits.<\/p>\n