Plastic Bank provides above market-rate for plastic waste, incentivizing plastic collection in exchange for money, items or services.
TARGET USERS: Individuals, Businesses, Industry, Government
KEY CONSIDERATIONS: Plastic collected through Plastic Bank is recycled and sold at a premium as Social Plastic®.
MORE INFORMATION: https://www.plasticbank.com/
THE PROBLEM
An astounding 80% of ocean plastic derives from land-based sources. Much of this plastic leakage is a direct result of inadequate plastic waste collection systems and a lack of economically viable recycling options for mixed plastics.
THE SOLUTION
By enabling the exchange of plastic for money, items, or Blockchain secured digital tokens, Plastic Bank exposes value in plastic waste. This empowers recycling ecosystems around the world to stop the flow of plastic into our oceans. All while helping people living in poverty build better futures.
To do this, Plastic Bank provides a consistent, above-market rate for plastic waste, thus incentivizing its collection. Individuals who collect plastic can trade it for money, items or services.
Plastic Bank also provides the ability for local entrepreneurs to set up and operate a convenience store for the poor, in which plastic waste is the currency. Plastic collected through Plastic Bank is recycled and sold at a premium as Social Plastic®.
Verified Social Plastic® has either contributed or been sourced directly from the Plastic Bank’s global reward and recycling systems, with customers gaining access to processed pellet or flake feedstock of PET, HDPE, LDPE, and PP – Social Plastic that has a direct and traceable impact.
ALTERNATIVE SOLUTIONS
Alternative solutions that support community action and in particular the collection of plastic waste for recycling and reuse – Ocean Plastic, Parley, Solu, and Thread, to name a few.
CASE STUDY EXAMPLES
The Plastic Bank is currently working in communities in Indonesia, Philippines and Haiti. For a list of current partners and products that leverage the Social Plastic®, see: https://www.plasticbank.com/social-plastic-plastic-neutral-products/#.XRtbaJOj8Wo
