Under the Plastic Program, projects that enable plastic to be collected from the environment may be issued Waste Collection Credits (WCCs) and projects that enable plastic to be recycled may be issued Waste Recycling Credits (WRCs), collectively known as Plastic Credits.
Each Plastic Credit represents one tonne of plastic waste that would otherwise have not been collected or recycled. Plastic Credits are characterized by a number of quality assurance principles which are confirmed through the project validation and verification process. Plastic Credits are ultimately purchased and retired by an end user to help address their plastic waste footprint. All Plastic Credit issuance and retirement records are publicly available on the Verra Registry.
Plastic Credits are issued to registry account holders listed on the Verra Registry. Registry account holders are companies or organizations that are interested in holding and transacting Plastic Credits. Registry account holders must pass strict “Know-Your-Customer” background checks prior to opening an account. Individuals may not open a registry account, and registry account holders are not authorized to hold Plastic Credits on behalf of individuals. Plastic Credits may only be retired on behalf of individuals by entities which hold an active registry account.
Ownership of Plastic Credits can only be transferred between Verra Registry accounts. Plastic Credits cannot be transferred to other databases or traded as paper certificates. Registry account holders wishing to transact Plastic Credits should perform their own due diligence to assess the risks associated with a given transaction.
Note that Verra maintains an impartial position in the market and does not hold, transact or solicit trades of Plastic Credits.
For details on how Plastic Credit serial numbers on the Verra Registry are configured, please click here.
In addition to the above, Plastic Credits are not suitable investments for individuals. If you have been approached to purchase Plastic Credits as an investment or if you have any questions, please contact Verra.
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