Rebound Plastic Exchange, a UAE-based B2B digital trading platform for recycled plastics has announced its support for the United Kingdom (UK) spur scalable solutions to its ongoing challenges in achieving sustainable waste management for plastics.
Having amended its Waste Shipment Regulations in 2021, the UK now adheres to the Basel Convention Amendments, which means quality assurance is now key to ensuring not only high-quality plastic waste, but that be uncontaminated and ready to be recycled. To that end, Rebound Plastic Exchange promises quality assurance and trust by vetting the members and listings posted onto the marketplace, thus helping the industry achieve its targets and keep plastic out of the environment.
In 2021, its exports added up to two-thirds of the country’s plastic waste, now reduced by 13%, according to Basel Action Network (BAN). The amount of the UK’s plastics exports dropped by 94% between 2017-18, which it was quick to divert to Malaysia, Turkey, Poland and Indonesia. In 2020, the UK shipped 7,133 metric tonnes of waste to non-OECD countries, adding Pakistan and Vietnam to its portfolio.
Maryam Al Mansoori, General Manager, Rebound Plastic Exchange said, “More investment and collaborations are needed to undergo sound recycling ventures where infrastructure lags. Active buyers and sellers on our platform come from over 21 countries, allowing Rebound Plastic Exchange to help source plastic feedstock at the preferred price ranges.”
Rebound Plastic Exchange boasts to provide a unique way of trading between countries with a system that enables buyers and sellers to track and trace the movement of plastic feedstock thereby offering unparalleled transparency whilst bringing inherent trust to the initiation of a circular plastic economy, in line with quality assurance standards currently followed by the UK.
So far, the British Plastics Federation (BPF) has been the most active UK circular economy investor over the past four years, with 12 deals in total, of which 33% have been done in the manufacturing and industrials sector.
In partnership with BPF, Recycling Association, and RECOUP, the Quality Standard for Recycled Plastics outpaces current regulations on the quality of post-consumer plastic materials set for export. It builds upon the ESA (Environmental Services Association)’s Standard for Responsible Export, released in 2020.
RECOUP’s endorsement of Rebound Plastic Exchange to run specification sheets, each tailored according to the listing found on the global B2B marketplace, complement UK endeavours towards the enhancement of its domestic recycled plastics industry.
Industry members, whether buyers or sellers of recycled plastics, can register on Rebound Plastic Exchange free of charge and access a global marketplace for quality assured feedstock.