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CIRCULAR ECONOMY & WASTE MANAGEMENT
According to World Bank data, over 2 billion tons of solid waste are generated annually, of which 242 million tons are plastic waste. Is it estimated that at least 35 percent of this waste is not managed effectively.
In Indonesia, 6.8 million tons of plastic waste were generated in 2017, with a recycling rate of just 6 percent and a high rate of leakage into the country’s waterways. One of our main priorities is to create a business model for recycling end-of-life plastics to ease the transition from a linear to a circular economy in Southeast Asia.
In the current context of the plastic waste management system in Indonesia, how can we integrate innovative solutions that will improve the overall waste management strategy?
To address the enormous challenge of plastic waste, Financing Change has partnered with a leading chemical recycling company in Southeast Asia to introduce chemical recycling technology that transforms end-of-life plastics into an oil, contributing to circular economy.
We are developing a blockchain-enabled tolling system that will allow consumer goods companies to prove that they are meeting their public commitments to source a proportion of their packaging from recycled materials. For this proof, they will pay a fee directly to workers in the waste supply chain to incentivize increased collection rates of plastics that typically leak into the environment.
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