Plastic credit for waste diversion

The PCX or PCX Markets is like ELP but focuses more on helping stakeholders at the top tier of the circular economy.

From its roots as a non-profit in the Philippines, one of the epicenters of the global and ocean plastic pollution crisis, PCX transformed into PCX Markets and PCX Solutions, both with the mission of helping companies comply with the country’s EPR laws.

PCX Solutions is a registered producer responsibility organization (PRO) which works closely with each of its members to have plastic waste footprints audited, craft upstream and downstream strategies, set goals, select solutions and generate the reports needed for obliged enterprises (OEs) to meet their compliance obligations to the EPR law.

PCX Markets provides OEs with access to high quality projects that collect and divert specific types of plastic in a company’s footprint from nature. The impact delivered is verified by

third party auditors and published on a public registry assuring companies that they are making a difference to the environment and complying with EPR regulations.

Diverted plastic waste earns from PCX the so-called plastic credit or one metric ton of plastic that has been collected and either recycled, upcycled or co-processed away from nature.

“Individuals or companies can buy credits to support cleanup and to take responsibility for plastic waste, both in voluntary and compliance markets,” according to Cris Prystay, communications director of PCX Markets.

Snack maker Mondelez International in the Philippines (MIP) is one of the more than 140 global companies helped by PCX Markets to divert nearly 100 million kilograms of plastic waste from nature. The food company benefits from plastic credits as it funds its upcycling project that converts plastics from beverage cartons and other low-value flexible items, like sachets, to boards for use in construction and furniture.

In 2023, MIP made and achieved its commitment to collect and divert 100 percent of the equivalent volumes of post-consumer packaging used in the Philippines, going well above the 20 percent bar set out in the EPR law.

“The amount of plastic they diverted from nature last year is equivalent, by weight, to 1,800 mid-sized passenger cars,” Prystay said.

MIP is targeting 100 percent responsibility again this year, far exceeding the current 40 percent requirement for 2024, she added.

“At PCX Markets, we are committed to working with project partners who follow the most rigorous standards in order to issue high quality credits that deliver immediate impact,” Prystay said.