Plastic Credit score Trade (PCX), a Filipino non-profit plastic offset program, partnered with Microsoft to develop a public, blockchain-protected credit score registry.
“It is crucial that the credit score registry is reliable and accessible to the general public,” stated PCX founder and chair Nanette Medved-Po in a press release. “Through the use of blockchain expertise to not solely shield the ledger however present transparency round additionality and shield in opposition to double counting, stakeholders will know the place and the way they positively impression the setting.”
Just like carbon markets that use carbon credit to restrict corporations’ manufacturing of greenhouse gases, PCX makes use of plastic credit to restrict the variety of plastics that companies produce.
Corporations within the Philippines who’ve bought plastic offsets embody Nestle Philippines and Unilever Philippines. In the meantime, corporations like PepsiCo Snacks, Wyeth Vitamin, Century Pacific Meals, Colgate-Palmolive, and NutriAsia have pursued plastic neutrality within the nation.
In keeping with PCX, these partnerships have helped divert over 18 million kilograms of plastic waste from the ocean.
“Sustainability and humanity’s response to it is likely one of the biggest challenges of our lifetime — a planet-sized problem that requires a planet-sized response,” stated Microsoft Philippines Nation Supervisor Andres Ortola in a press release. “Expertise can — and should — speed up that response.”
Microsoft supplied an Azure-based blockchain answer to beef up the credit score registry’s safety, utilizing an internet utility to combine the blockchain into PCX’s present operations.
PCX’s blockchain-protected credit score registry may be discovered plasticcreditexchange.com, the place it exhibits how a lot plastic credit score every company has purchased. — B. H. Lacsamana