Companies start using plastic credits to offset waste in Thailand 

Posted on December 18, 2024 by DrRossH in Plastic Waste News

Diversey buying Corsair Group’s plastic credits to offset plastic waste generated by its packaging

Source: Companies start using plastic credits to offset waste in Thailand | Sustainable Plastics

Diversey, a packaging company part of US-based chemicals company Solenis, and Thailand-based chemical recycler Corsair are partnering on the use of plastics credits.

Plastic credits are market-based mechanisms designed to incentivise and finance the reduction, recovery, or recycling of plastic waste. Similarly to carbon credits, they can be traded between companies that produce and reduce plastic waste. Companies can  purchase these credits to offset their plastic usage from firms that have collected or recycled plastic waste.

Corsair issues and releases 10 CSR plastic credits for every kilo of plastic waste it removes from the environment. The process and the credits are stored and recorded in the open-source Ethereum (ERC-20) blockchain technology in order to provide the transparency and public accountability.

The first phase of the plastic credits collaboration will launch in Thailand with Diversey’s Suma Star D1 hand dishwashing detergent, featuring packaging labelled as plastic neutral.