Danone, Veolia, Nestle and Tetra Pak have collaboratively launched a global initiative to standardise corporate action on plastics. The ‘3R Corporate Standard’ initiative has set international environmental standards using a credit scheme that aims to support consumer goods firms, retailers and packaging producers.
These companies will be able to utilise a digital tool 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. The money raised through this program hopes to fund projects that tackle plastic leakage and social inequalities in developing countries. The initiative is currently undertaking 12 initial pilots of potential credit issuing projects across Asia, Africa and Latin America.