Plastic Program Newsletter – Issue #6

Welcome to the sixth issue of Verra’s Plastic Program Newsletter, where we share updates on Verra’s Plastic Waste Reduction Program (Plastic Program).

If you have questions or comments about the newsletter, please contact plasticstandard@verra.org or secretariat@verra.org.

On Tuesday, April 29, at 9:00 am ET, join Verra for a webinar on the key requirements of its Plastic Program. Specifically, Verra staff will provide a deep dive into PWRM0001 Plastic Waste Collection Methodology, v1.1 and PWRM0002 Plastic Waste Recycling Methodology, v1.1, with a focus on enhancing participants’ understanding of requirements such as project region, baseline scenario, applicability conditions, and additionality.

Prior to attending this session, participants are encouraged to review the recording of the introductory webinar, Developing a Plastic Program Project, held on February 7, 2024.

Verra has published a case study on the Batam Ocean Impact Project (Verra Project 4199), which involves the manual collection and management of plastic waste from coastal and river environments in Indonesia. The case study outlines the activities undertaken by the project to address the plastic waste management challenge in the region and underscores the crucial role that Plastic Credit finance plays in setting up waste collection infrastructure, increasing the recovery and recycling of plastic waste and improving the livelihoods of waste collectors. It also describes the project’s social impact and lists an example of how a global insurance company used Plastic Credits from the project as part of its plastic stewardship strategy.

As part of a World Bank project, Verra, in collaboration with Earth Action (external) and rePurpose Global (external), is developing a new accounting framework for the impact of upstream plastic reduction solutions such as plastic substitution, reuse, and refill systems.

We are gathering input from brands, financiers, and innovators to ensure the framework is practical, credible, and truly reflective of on-the-ground realities.

Want to contribute? Share your feedback by clicking the link that best fits your role:

• Companies that have plastic in the value chain (external)
• NGOs, financial institutions, and other ecosystem enablers (external)
• Upstream project developers and innovators (external)

Responses are anonymous and will help shape a more circular, low-waste future.

The deadline to provide input is April 30.

Verra regularly registers new projects and verifies Plastic Credit requests. See below for a list of projects that have recently completed the registration and/or verification approval process:

• Exxel Plastic Recycling Project, Canada (Verra Project 4797)
• SEArcular Indonesia Collection and Recycling Project, Indonesia (Verra Project 4805)
• A Wise Transformation of Plastics Recycling in Brazil, Brazil (Verra Project 4682)
• JMPM – Plastic Waste To Packaging, Gabon (Verra Project 4726)

Visit the Verra Registry to see the status of all projects undergoing registration and/or verification approval with Verra’s Plastic Program.

Verra staff recently attended the South Asia Regional Roundtable organized by the Plastic-Free Rivers and Seas for South Asia (PLEASE) Project (external). The event took place in Colombo, Sri Lanka, and brought together around 150 participants from a diverse group of stakeholders in Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.

Komal Sinha, Verra’s senior director of government and policy engagement, spoke at a panel titled “Market-Based Solutions for Plastic Waste” and hosted a workshop titled “Extended Producer Responsibility (EPR) for Plastics and Links to Plastic Credits.”

Here are the key takeaways:

• South Asia faces significant plastic waste management challenges, driven by rapid urbanization, growing consumption, and limited waste infrastructure.
• Bridging the sizable funding gap to finance a circular transition will require aligning capital flows from diverse sources, including private, public, and cross-sectoral finance.
• High-quality Plastic Credits, such as those issued by Verra, represent an innovative financing tool that can mobilize capital to establish and scale verified plastic waste management projects, supporting the broader shift to a circular economy.
• As most South Asian countries are in the early stages of Extended Producer Responsibility (EPR), there is a timely opportunity to integrate global best practices and innovative instruments, such as Plastic Credits, into the foundational design of these systems.
• Plastic Credits issued by Verra’s Plastic Waste Reduction Program, which includes environmental and social safeguards, third-party audits, robust monitoring and reporting requirements, and a transparent registry, can help support the development of high-functioning, credible EPR schemes—a shared ambition for Global South countries.

Circularity, the premier gathering of professionals advancing solutions for the circular economy, is almost here! Join the growing circularity community from April 29 to May 1, 2025, in Denver, CO. You will gain insights to move beyond incremental action, catalyze systems change, and accelerate the shift to a circular economy.

Register by April 25 to save $150, plus use code C25V for an extra 10% off. That’s a total savings of over $450 on the Final Rate: https://buff.ly/4a8x3KM.