Danone, Veolia, Nestlé and Tetra Pak have jointly launched a global initiative aimed at standardising and accelerating corporate action on plastics. The ‘3R Initiative’ will support consumer goods firms, retailers and packaging producers by giving companies access to a digital tool which allows them to trade plastics credits issued by recycling and recovery providers worldwide. These credits can then be used to prove compliance and to “offset” corporate plastic use, with the money raised through this system set to fund projects tackling plastic leakage “hotspots” and social inequalities in developing nations. The ‘3R Crediting Mechanism’ is undertaking 12 initial pilots of potential credit-issuing projects across Asia, Africa and Latin America, including a scheme helping Brazil’s waste pickers to generate additional income. The 3R Initiative will also give participants access to a new standard against which their efforts to tackle plastic waste can be independently assessed. Called the ‘3R Corporate Standard’, the aim of the framework is to help businesses “credibly” quantify and compare the impact of their actions through third-party assessment.

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