- | 11:30 am
Abu Dhabi-based company Rebound launches marketplace for recycled plastics
Rebound Plastic Exchange can make it easier to recycle 5 million tonnes of plastic by 2025.
With a lack of sustainable disposal options, a sizable amount of single-use plastics are fast filling up landfills. Plastic degradation takes decades, adding to the existing woes, making it one of the biggest national polluters of soil, marine, and animal habitats.
To fix this problem at its core, UAE companies and governments have taken it upon themselves to find sustainable solutions accessible to all. Rebound, a subsidiary of International Holding Company (IHC), has joined this cause with its newly-launched Rebound Plastic Exchange (RPX) program.
The program will help move plastics from areas with insufficient recycling facilities to sites with a shortage of feedstock, meeting the issues of reducing plastic waste while producing high-quality recycled plastics.
RPX will use material specification sheets customized for each listing on its B2B marketplace to ensure that the traded material complies with shipment criteria in line with the Basel Convention and EU regulations. These sheets have been endorsed by the industry membership association RECOUP.
Additionally, a passporting system will be implemented to run end-to-end digital certification. To top that, RPX can make recycling 5 million tonnes of plastic easier by 2025.
According to the company announcement, the program has already received subscriptions from business leaders in the Middle East, North America, Latin America, India, Southeast Asia, and Europe.
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