Skip to main content

Problem Statements

There are varied problem statements for the different players involved, namely

  • Waste Management Organisations (WMOs)
  • Businesses

Waste Management Organisations (WMOs)​

Lack of Transparent and Immutable Records​

Many WMOs face challenges in maintaining transparent and immutable records of their plastic processing stages. The absence of a reliable and tamper-proof system often hampers their ability to showcase the authenticity and credibility of their plastic recovery efforts.

Difficulty in Monetizing Recovery Efforts​

Despite the invaluable work done by WMOs towards recovering and cleaning the environment, it is challenging to monetize these efforts, as the beneficiaries are far removed from the activity itself. There is a lack of a standardized marketplace to sell their projects for the right price.

Limited Access to Funding​

Getting access to funding for their projects is a massive challenge for any WMO with requirements to support their operations and invest in new technologies to help make their process more efficient. There is an absence of an easy-to-find, secure, and transparent system to attract new investments.

Absence of Standard Proofs for Plastic Credits​

Many WMOs with less access to funds and investments do not have any standardized method for generating or providing proof of their recovery work. This creates ambiguity and skepticism in the market regarding the legitimacy of the plastic credits offered. This, in turn, affects the funding or resources they could have otherwise attracted.

Businesses​

Legitimate Mechanisms for Plastic Footprint Offset​

Many businesses find it challenging to offset their plastic footprint effectively owing to a lack of a centralized and unreliable marketplace for purchasing plastic credits.

Difficulty in Verifying the Source of Plastic Credits​

Businesses struggle to verify the authenticity of the plastic credits they purchase. There is a lack of a transparent and traceable system where they can ensure these credits are sourced correctly from legitimate and impactful plastic recovery works.

Limited Engagement with the Plastic Recovery Story​

Communicating a brand's commitment to reducing environmental impact is a big challenge. The absence of a narrative tied to the plastic credits, as through NFTs, limits their ability to engage consumers and stakeholders with a meaningful story.

Directly Initiating and Monitoring Recovery Projects​

Aside from buying plastic credits from existing suppliers, businesses today lack standardized platforms that enable them to get directly involved in recovery projects where they draft objectives that align with their brand mission and goals and have WMOs collaborate with them. The lack of this hinders them from effectively communicating their direct, impactful efforts towards sustainability.