Only a small fraction of the over 350 million tons of plastic used annually is recycled. Without new incentives, it will be difficult to increase waste collection and recycling. The Plastic Program awards credits depending on the quantity of plastic collected and/or recycled. This "plastic crediting mechanism" provides an effective and efficient method for paying initiatives that verifiably reduce plastic in the environment.
For certification, projects produced under the Plastic Program must undergo a rigorous evaluation process. The Plastic Program encompasses a wide array of operations, such as garbage collection from the environment, the creation of new municipal infrastructure, the collecting and sorting of recyclable plastic waste, and the development of new recycling technologies or the expansion of current ones.
Four crucial elements contribute to the strength of the Plastic Program:
The Plastic Waste Reduction Standard specifies the criteria and conditions that all certified initiatives must adhere to.
All Plastic Program projects are submitted to desk and field audits by competent independent third-party auditors and Verra personnel to guarantee conformance with standards and correct application of methodology.
Projects are evaluated using a technically sound method for quantifying plastic trash collection or recycling that is specific to that project type.
The Verra Registry will document the generation, retirement, and cancellation of all Plastic Credits. To register for the program, projects must demonstrate compliance with all standards and methodological prerequisites.