On October 22 at 9:00 am ET, Verra’s Plastic Team held a webinar for financial institutions interested in understanding Verra’s Plastic Waste Reduction Program (Plastic Program) and Plastic Credits.
This webinar helps private banks, institutional investors, development banks, and others understand how Verra’s Plastic Program can support impact-driven and results-based investments and gain knowledge on the emerging plastic credit market.
The Verra team was joined by:
- Rohan Bhargava, climate change and environmental specialist, World Bank, who spoke about the World Bank’s recent report, Unlocking Financing to Combat the Plastics Crisis – Opportunities, Risks, and Recommendations for Plastic Credits (external)
- Steve Hardman, chief executive officer, Plastic Collective, who discussed the use of Plastic Credits in blended finance mechanisms. His organization developed one of the projects involved in the recently issued plastic waste reduction-linked bond.
- Sonia Battikh, global head of carbon offsets trading, Citi, who shared how the bond works. Citi served as the sole structurer and bookrunner on the transaction.
Webinar
Verra’s Plastic Waste Reduction Program (Plastic Program) enables the consistent accounting and crediting of a variety of plastic waste collection and recycling activities worldwide. Projects registered with the program receive Plastic Credits representing the impact of these activities. The sale of these credits mobilizes much-needed finance to address local plastic waste management challenges.
This finance, in turn, facilitates the following:
- Improved plastic waste collection and recycling rates needed to address legacy pollution
- The mitigation of plastic leakage to the environment
- Increased availability of recycled feedstock
- Enhanced benefits for the local informal waste sector