Determine Baseline Emissions: The first step in the plastic crediting process is to determine the baseline for a project. This involves measuring the amount of plastic waste that would have not been collected or recycled if the project had not been implemented.
Estimate Plastic Waste Collection or Recycling: Once the baseline plastic waste has been established, the next step is to estimate the plastic waste that will be collected or recycled by the project activity. This is done by modeling the project and calculating the amount of plastic waste that will be collected or recycled.
Verify Plastic Waste Collection or Recycling: To ensure that the reduction in plastic waste are accurate and credible, an independent third party verifies the calculations and methodology used to estimate the plastic waste collection or recycling.
Issue Plastic Waste Collection or Recycling: Once the plastic waste collected or recycled have been verified, plastic credits are issued. Each plastic credit represents one ton of plastic waste collected or recycled.
Sell or Trade Plastic Credits: Plastic Credits can be sold or traded in the markets. The plastic credit system provides companies with a way to take responsibility for their plastic waste and support initiatives that reduce the amount of plastic that enters the environment.