Verra has joined the finance and policy task forces of Indonesia’s National Plastic Action Partnership (NPAP). Under this umbrella, Verra will work with local partners to support the transition to a circular plastic economy in Indonesia.
NPAP aims to deliver meaningful action on reducing plastic waste and pollution by bringing together governments, businesses, and civil society. Specifically, NPAP plans to support the Indonesian government’s target of reducing 70% of the country’s marine plastic debris by 2025 and achieving near-zero plastic pollution by 2040.
Supporting the Finance Task Force
As a member of NPAP’s finance task force, Verra will share how its Plastic Waste Reduction Program (Plastic Program) provides an innovative mechanism to drive finance to local plastic waste collection and recycling projects.
Currently there are five projects in Indonesia at various stages of registration with Verra’s Plastic Program:
- BATAM Ocean Impact Project (Verra Project ID 4199) – registered
- Project STOP (Verra Project ID 4135) – registered
- SEArcular Indonesia Collection and Recycling Project (Verra Project ID 4805)
- Project Laut Yang Tenang: Environment-Bound Plastic Recycling and Waste Entrepreneur Empowerment in Indonesia (Verra Project ID 4471)
- RePL Plastic Waste Reduction Program (Verra Project ID 4722)
Projects registered with Verra’s Plastic Program have significant opportunities to support national plastic waste management goals and targets. Plastic Credits will help these projects mobilize funding from a range of investors to scale up robust plastic waste collection and recycling systems.
Supporting the Policy Task Force
In its role as a policy task force member, Verra will contribute to the regional initiative’s work to support the implementation of relevant national policies and targets, including Indonesia’s marine plastic debris reduction targets and emerging extended producer responsibility (EPR) schemes.
Verra can support the implementation of effective EPR schemes by enabling entities to meet their targets in a timely and effective manner through purchasing Plastic Credits from a ready pool of projects certified with the Plastic Program.
Governments can leverage the Plastic Program’s robust monitoring and reporting framework to gain clarity on the progress and create transparency in the system. Social safeguards built into the program can support the inclusive and just transition of the informal sector.
Further, Verra aims to provide technical support and capacity-building on how Verra’s Plastic Program and Plastic Credits can be leveraged as an innovative finance mechanism to accelerate Indonesia’s plastic pollution reduction goals. Workshops in support of this objective can be tailored for a range of stakeholders, including ministries and local governments, as well as plastic waste collection and recycling organizations, industry alliances, domestic and international private sector stakeholders, non-governmental organizations, development banks, and donors.