Rebound Plastic Exchange: New trading platform for recyclates
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Recycling plastic is a valuable commodity circular economy cannot do without. (Image: Fraunhofer IVV)
Rebound Plastic Exchange: New trading platform for recyclates
Circular economy can only truly work if plastic waste is collected, recycled and reused. Many manufacturers are aware of this and now use recyclates. To drive international trade with recycled plastic, Abu Dhabi-based International Holding Company (IHC) has now established a new trading platform for recyclates with Rebound Plastic Exchange.
Almost 100 percent of all plastic waste can be recycled; the global recycling rate, on the other hand, is a mere 15 percent. The new Rebound Plastic Exchange trading platform aims to fill this gap on the market, enabling true circular economy and meeting the increased demand for recyclates by trading recycled plastic. “By capturing the value of raw plastic feedstock, we allow companies to access recycled content with confidence while creating new opportunities for communities in the value chain to grow their economies,” says Maryam Al Mansoori, General Director of Rebound Ltd. The platform also aims to guarantee secure trade between countries with transparency, quality and first-rate recycling materials. As part of what is known as a passporting system, materials are given a digital “passport” and can thus be tracked as they make their way along the entire value chain.
Trade with five million tonnes of recycling plastic planned
Rebound Plastic Exchange also aims to create new economic opportunities for the estimated 80 percent of countries without domestic recycling and processing capacities. Rebound expects a deficit of several million tonnes of recyclates over the next years, particularly due to the many brands that have committed to increasing their use of recycled plastic in the years to come. In total, Rebound aims to trade around five million tonnes of recycling plastic by 2025.
„We have designed our system to facilitate traceable, high-volume trade in accordance with regulations between buyers and suppliers around the world. Rebound Plastic Exchange will transform the global plastic recycling industry. For the first time, the trade of raw plastic feedstock will see the same levels of trust and transparency that exist in the market for other commodities, increasing business confidence and encouraging greater trading volume, which will mean a reduction in plastic going to landfills or being burned.“
