02 Dec 2022 --- Plastic credit is not a solution to addressing the plastic problem, major FMCGs have warned. At the recently held Sea of Solutions (SoS) 2022 virtual event convened by the UN Environment Programme (UNEP), Unilever and Coca-Cola unanimously resounded that the concept of plastic credit cannot be relied on independently. Plastic credit is a tool to incentivize the removal of plastic from the environment and recycle it into new products and packaging. Companies calculate their “plastic footprint” against which they purchase plastic credit to be granted to independent projects working toward collecting and recycling the equivalent amount of plastic.
