As the world works together to address the global plastic crisis, Verra is deeply involved in conversations on how Plastic Credits can be a key tool in achieving the objectives of a Global Plastic Treaty.
Recently, members of Verra’s Plastic team attended the second session of the Global Plastic Treaty’s International Negotiating Committee (INC-2) in Paris. There, they met with member states and other key stakeholders, and discussed how Plastic Credits can help unlock finance to achieve the goals of the international legally binding instrument.
Komal Sinha, Verra’s Director for Plastics and Sustainable Development Policy and Markets, moderated a panel at a standing-room-only event where leaders from entities across the Plastic Credit value chain – including civil society, projects, and companies – discussed a path to real impact on the ground.
Verra also co-organized an official INC-2 side event where the team presented on Plastic Credits and their use in financing local plastic waste collection and recycling infrastructure across the globe.
Later this year, Verra will attend the next negotiations meeting (INC-3) in Nairobi, Kenya. The team will review the highly anticipated zero draft of the treaty, which constitutes the first version of the agreement and the basis for subsequent negotiation discussions. Additionally, Verra will prepare and submit written input on the potential areas for intersessional work (e.g., options for mobilizing and aligning private and innovative finance to address plastic pollution) identified at INC-2.