Plastic Program Newsletter – Issue #7

Welcome to the seventh issue of Verra’s Plastic Program Newsletter, where we share updates on Verra’s Plastic Waste Reduction Program (Plastic Program) and how you can support the work of the Plastic Program.

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

The next, and hopefully final, round of negotiations for the Intergovernmental Negotiating Committee (INC-5.2) to develop an international legally binding instrument to curb plastic pollution, including in the marine environment, will take place August 4 through 14 in Geneva, Switzerland.

In the lead-up to this event, Verra reiterates its support for the shared goal of ending plastic pollution worldwide and the mandate of the United Nations Environment Assembly (UNEA) Resolution 5/14 to develop a global plastics treaty based on a comprehensive approach that addresses the full lifecycle of plastics.

Verra is an accredited observer to the United Nations Environment Programme, and Verra staff will attend the negotiations in Geneva and present at various side events:

Sunday, August 3

Beating Plastic Pollution: Solutions Day

• • Time: 8:30 am–4:00 pm CEST
  • Host: Global Plastic Action Partnership (GPAP) at the World Economic Forum
  • More information about the event (external)

Monday, August 4

Innovative Finance for a Circular Future

• • Time: 8:00–10:00 am CEST
  • Hosts: PCX Solutions, Verra, EcoCircle Global, Braskem, CRDC Recover PBC
  • Register interest (external)

Wednesday, August 6

Measuring and Financing Upstream Plastic Reduction Outcomes

• • Time: 5:30–8:00 pm CEST
  • Hosts: Earth Action, Verra, rePurpose, The World Bank, Innovation Alliance for a Global Plastics Treaty
  • Register interest (external)

Friday, August 8

“CAPacity” to Act: Reducing Plastic Pollution through Capacity Development

• • Time: 6:00-9:30 pm CEST
  • Hosts: PREVENT Waste Alliance and IUCN
  • Register for the event (external)

More events to be confirmed. If you would like to meet with Verra staff in Geneva, please email plasticstandard@verra.org.

A forthcoming discussion paper by Verra’s Plastic Program team explores how high-integrity Plastic Credits can support the design and implementation of Extended Producer Responsibility (EPR) systems worldwide.

With global plastic waste expected to triple by 2060, addressing this crisis, particularly in emerging markets and developing economies (EMDEs), requires scalable solutions that can bridge infrastructure, financing, and administrative gaps. EPR is a policy tool that shifts the environmental and financial responsibility of plastic waste management from governments to producers. However, implementing EPR effectively in EMDEs presents challenges, including underdeveloped waste systems, limited financing, constrained regulatory capacity, and exclusion of informal waste workers. Verra’s Plastic Credits provide a results-based financing mechanism that can be leveraged by governments, producers, and waste management operators to channel investment into verified plastic collection and recycling projects.

EPR and Plastic Credits have both been referenced in the official documents (PDF) related to an International Legally Binding Instrument for Plastic Pollution. As the world anticipates the signing of this global plastics treaty during INC-5.2, it is important to understand the potential of these innovative results-based finance tools that connect public and private sector finance with activities that address plastic pollution.

On Tuesday, July 29, at 9:00 am ET, Verra will host a webinar to preview key findings of the upcoming discussion paper.

Drawing from six case studies of countries at three different stages of EPR development, the Plastic Program team will highlight how Plastic Credits can support EPR and help scale inclusive and effective plastic waste management systems globally.

Roger Joseph (Rocky) Guzman, international governance, legal, and policy specialist at the Asian Development Bank, will deliver a keynote address offering an outlook on the upcoming INC-5.2 and highlighting the importance of innovative finance.

Registrants will also be notified when the full paper is published.

On May 22, 2025, Verra co-hosted a high-level roundtable in London titled “A Finance Mechanism to Support Global Plastic Waste Management,” along with Seven Clean Seas, Plastic Collective, and Howden Group Holdings. The event brought together representatives from the UK’s Department for Environment, Food and Rural Affairs (DEFRA), private consultancies, industry leaders, financial institutions, and plastic credit project developers and beneficiaries.

The discussion centered on the role of high-integrity plastic credits in both voluntary and compliance markets and aimed to clarify common misconceptions. Key takeaways from the session:

• Differentiated plastic credit types enable targeted incentives. A clear distinction between plastic waste collection and recycling credits is crucial. Using specific types of plastic credits enables countries to design tailored incentives aligned with local waste management needs.
• Plastic credits are a complement to EPR. Plastic credits are not intended to replace Extended Producer Responsibility (EPR) schemes, but rather to complement them by unlocking results-based, additional financing that supports and accelerates EPR implementation.
• Plastic credits can support overseas recovery obligations. Plastic credits can also contribute to meeting obligations under an EPR system to recover and/or recycle plastic waste overseas. The UK’s Plastic Export Recovery Note (PERN) system serves as an innovative model for recognizing the global footprint of domestic plastic waste producers.
• Plastic Credits can catalyze other forms of impact-linked finance. The plastic waste reduction-linked outcome bond would not have been possible without Verra’s Plastic Program and Verra-certified Plastic Credits. The bond leverages Plastic Credits tied to verified outcomes that are publicly observable.
• Ensuring integrity through strong governance signals. High-quality plastic credits must deliver credible, transparent, and verifiable impact. To facilitate such an impact, clear regulatory signals and mandates (e.g., for minimum pricing and eligibility thresholds) are essential for safeguarding the integrity of plastic credits and fostering long-term market confidence.

Verra regularly registers new projects with its Plastic Waste Reduction Program, in addition to verifying Plastic Credits. See below for a list of projects that have recently completed the registration and/or verification approval process:

• TerraCycle Global Foundation Thai River Waste Project, Thailand (Verra Project 3679)
• RePL Plastic Waste Reduction Program, Indonesia (Verra Project 4722)
• Polibalibino Reycling Project in Brazil (Verra Project 5002)
• Mr. Green Africa & Removall: Plastic Waste Reduction Project in Kenya (Verra Project 4949)
• Agents of Change: Orchestrating the Recycling Chain, Brazil (Verra Project 4470)
• Together for Tomorrow: Collaborative Plastic Collection and Community Empowerment, Türkiye (Verra Project 4688)
• Green Steps: Towards a Greener Future with Tanrıkulu, Türkiye (Verra Project 4931)

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

Support Verra’s Plastic Program!

This month, the Plastic Free July campaign (external) reminds us that the plastic crisis is an urgent challenge. Addressing it can take the form of cutting back on single-use plastics, promoting reuse and recycling activities, and/or supporting initiatives that advance a systemic transformation of how we handle plastic waste.

Verra’s work enables projects that have a real impact on plastic collection and recycling. And with your help, we can scale them.

Join us in supporting the system that makes these powerful plastic waste solutions possible.