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ValuCred: Plastic Credits for Inclusive and Transparent Circularity
ValuCred is a consortium led by Yunus Environment Hub, Nehlsen AG and Rodiek, and BlackForest Solutions, for the design and financing of sustainable plastic waste management systems.
The ValuCred project is one of the first promoted by PREVENT Waste Alliance with funding from the Federal Ministry for Economic Cooperation and Development (BMZ) and the Röchling Stiftung for the development of an international Standard Process Model (SPM) that aligns and connects interdependent stakeholders in the ‘Plastic Credits’ market.
The SPM will be fully adaptable to existing management systems such as ISO 9001 and 14001 as well as legislative or voluntary EPR schemes. Thereby, ValuCred ensures global alignment and replicability within the emerging Plastic Credit market and fosters collaboration amongst the existing initiatives, platforms and standards for plastic crediting and offsetting.
Bringing radical transparency into the generation and valorization of Plastic Credits, ValuCred empowers informal waste workers in low-income countries whilst striving for zero plastic leakage into the environment.
After the successful conclusion of an extensive market research and benchmarking of crediting, offsetting and standardization initiatives in the plastic footprint offset sector in early 2021, the ValuCred SPM, supported by a platform-neutral application-programming interface (API), will be launched for testing in five countries in September of the same year.
- By March 2021:
- Completion of an extensive market research on existing plastic crediting initiatives, platforms and standards, including benchmarking and documentation
- By September 2021:
- Development of the Standard Process Model (SPM)
- Design for a platform-neutral Application-Programming Interface (API)
- By February 2022:
- Integration of actors from different fields via a multi-stakeholder process
- Testing and reiterative adaptation of the SPM and API in 5 pilot countries
- By June 2022:
- Publication of ValuCred’s Standard Process Model