New plastic waste initiative launched yesterday at the Responsible Business Summit Europe 2019

The 3R Initiative brings together NGOs, experts and leading companies Danone, Nestlé, Tetra Pak and Veolia in pioneering “circular economy” business models

LONDON, 13 June 2019 – BVRio is proud to announce the official launch of the 3R Initiative yesterday at the Responsible Business Summit Europe 2019.

Pedro Moura Costa, CEO of BVRio, presented the 3R Initiative to an audience of corporates, NGO representatives, policy makers and journalists. The presentation was followed by a dynamic Q&A session to discuss challenges and solutions on the topic.

The 3R Initiative was founded by Danone, Veolia, Nestlé, Tetra Pak and is led by international standard-setter Verra and environmental market developer BVRio. Conservation International and South Pole contribute as advisors.

Plastics became a critical issue to companies worldwide. An increasing number of organisations are committed to solve the plastic problem and face the challenge of reducing the environmental impact of their products and packaging.The 3R Initiative provides a concrete and innovative solution for companies to decrease their plastic footprint by making internal reductions and supporting plastic waste recovery projects around the world.

“To solve the problem of plastic pollution, we need market-based solutions that can be used at scale and replicated worldwide. Market instruments such as credits provide the basis for a cost efficient and environmentally sound solution for plastic recovery and recycling.” said Pedro Moura Costa.

The initiative works by using a credit scheme to jumpstart the circular economy – incentivising and encouraging corporates to take leadership both within and beyond their value chains to address the plastic waste issue at scale.

Environmental and social benefits

Besides tackling plastic waste, the crediting mechanism also brings direct social benefits. In Brazil, for instance, the mechanism will enable disadvantaged waste pickers to generate additional income and improve their work conditions through the sale of plastic waste recovery credits. In Southeast Asia, 3R credits will unlock new investments in missing waste collection and recycling infrastructure to cut plastic pollution at its source.

More than a dozen initial pilots of potential credit-issuing projects, targeting different types of plastics and packaging and recovery activities, will be developed in the coming years in Latin America, Africa and Southeast Asia.

“To date, there has been too little investment in waste recovery and recycling efforts, especially in the developing world where support is most needed,” said Moura Costa. “The 3R Initiative offers corporations the possibility of demonstrating to the public that they are willing and able to fight plastic pollution, with the goal of transforming unsustainable business models into truly circular operating systems.”

About the 3R Initiative

The 3R Initiative was founded by Danone, Veolia, Nestlé, Tetra Pak and is led by international standard-setter Verra and environmental market developer BVRio, both non-profit organisations. Conservation International and South Pole contribute as advisors.

The 3R Initiative (www.3RInitiative.org), named for its objectives of reducing plastic waste, recovering plastic from the environment and increasing recycling rates, aims to: (1) catalyse responsible design, use and recovery of packaging materials; (2) support companies in reducing their plastic waste footprints and mitigating potential leakage into the environment; and, (3) stimulate the development of new plastic recovery and recycling projects around the world. The 3R Initiative will start by focusing on plastic packaging and over time will cover a wider range of recyclable materials to meet environmental and market needs. The 3R Standard for Corporate Accounting will enable companies to robustly assess and report on their plastic waste footprints, and to communicate credible mitigation actions. This will be complemented by the 3R Standard for Project Accounting, which will establish the rules and methodologies to quantify and account for the removal and/or recycling of waste, incorporate social safeguards to protect waste collectors, and set out a verification system using third-party auditors.

About BVRio

BVRio Institute (www.bvrio.org) is a non-profit association created in 2011 with the objective to develop market mechanisms to facilitate compliance with environmental laws. One of such mechanisms is a Reverse Logistics Credits system developed to promote the recovery and recycling of waste materials, involving more than 7000 individual waste collectors, which was used by companies to reduce their packaging waste footprints. BVRio was created in partnership with the Secretariats of Environment and Finance of Rio de Janeiro’s state and municipal government, and has a governance structure that includes, among others, representatives of the World Business Council for Sustainable Development Brazil (CEBDS), Brazilian Foundation for Sustainable Development (FBDS), Federal University of Rio de Janeiro, and Instituto Pereira Passos of urban planning. Originally focused on Brazil, today BVRio extended its presence in Ghana, Indonesia, China, UK and Switzerland.