This data is live from Alchemy

Our proprietary blockchain-secured platform

Data last verified: Monday, 02/05/2024

1Ocean-bound plastic

Plastic Bank operates under the global standard defined by Jenna Jambeck. Ocean-bound plastic is defined as plastic that has not yet found its way into the ocean but is classified as "mismanaged waste". That is, plastic that is not being (formally) collected, is not likely to be collected, and is found within 50km of an ocean-bound waterway or coastal area.

2Community Members

Individuals within a recycling community who collect plastic and exchange it at a Plastic Bank collection branch for secure income and life-improving benefits.

3Equivalent Bottles Stopped

The amount of ocean-bound plastic collected and recycled in our recycling communities converted into bottles. Conversion rate is 50 bottles per kg (the average weight of a 500mL bottle is ~20g)

4Recycling Communities

Community of plastic collectors living within 50 kilometres of ocean-bound waterways involved in plastic collection and its exchange at Plastic Bank collection points.

Alchemy™

Alchemy is the blockchain platform that powers the Plastic Bank app. It enables fully traceable recycling processes, secures income for recycling community members and tailors impact reports for our stewards.

Plastic Bank collaborates with IDOS, cirplus, and waste4change as part of a PREVENT Waste Alliance pilot project

This project aims to improve the Indonesian waste management system by enhancing the amount of plastic waste segregated, collected and recycled and increasing the uptake of recyclates in plastic production. The German Institute of Development and Sustainability (IDOS) has developed awareness measures to promote behaviour change with respect to waste segregation at source. Waste4Change establishes a segregated collection system for plastic waste – both at household level as well as through the local waste banks.  Plastic Bank’s blockchain technology and app ensures secure and fair payment of waste collectors and increases the volume of recycled plastic by incentivising waste recovery. The recycled plastics are then offered for global sales to plastic converters and brand owners via the cirplus digital marketplace. Plastic Banks’ blockchain app and cirplus’ marketplace provide easy access to source ethically recycled material, while helping to raise living standards in Indonesia. 

Tackling the plastic crisis through technology

As part of the PREVENT Waste Alliance pilot project, Plastic Bank is providing the on-the-ground technology for plastic waste collection & tracing. cirplus is helping to bridge the gap between the local and global markets. Plastic recyclates made with Social Plastic® are now available on the cirplus global marketplace as ‘PREVENTed Plastic Waste’. 

“This project shows the importance of bringing together different actors along the value chain to develop effective solutions for the circular economy. Through the collaboration of the different actors, it was possible to develop an innovative solution that includes adapted digital tools and a behaviour centered design approach. This helped to increase the efficiency of an otherwise complex and disconnected system.”

Nicole Bendsen
Coordinator at Prevent Alliance

 

“In our cooperation with Plastic Bank, science joins hands with practice to raise environmental awareness, support sustainable behaviour change, and improve local recycling solutions towards positive social and ecological impacts.”

Dr. Anna Pegels
Senior Researcher of IDOS

“This is a step towards an ethical recycling system in the global South. Plastic Bank’s blockchain app and cirplus marketplace establish a stable win-win relationship between the countries of the South and the industrialized nations to keep plastic out of the oceans, use it as a recyclate in a climate-friendly way, and thus save crude oil.”

Christian Schiller
Co-Founder & CEO at cirplus

 

“This collaboration with different actors, from driving behavior change in households collecting, processing, and selling recycled plastic, fulfills our vision, where our digital solutions connect the whole circular economy system into a traceable value chain. Together with our partners, we drive the prevention of ocean plastic, creating synergies by utilizing our different strengths and capacities.”

Peter Nitschke
Global Director for Community Partnerships at Plastic Bank

“Plastic Bank together with waste4change collaborated in realizing a responsible waste management system in a residential area and digitizing waste data collection. In this collaboration, we hope to improve the waste value chain and increase the recycling rate in Indonesia. And ultimately realize a sustainable circular economy.”

Saka Dwi Hanggara
Campaign Manager at waste4change

 

This project is funded by the PREVENT Waste Alliance, an initiative of the German Federal Government.
More information: https://prevent-waste.net/en/

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Meet Our Global Partners

We’re the environment’s alchemist – turning plastic into gold. Become part of the solution by activating your business with one of our partnership programs

Become a Partner