This article serves as a sub-help center gathering all information related to the plastic credit scheme facilitated by Empower.
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Note that this page, as well as further details about Empower Plastic Credits, are still being developed and revised. Please revisit this page for up-to-date information.
What are Empower Plastic Credits?
An Empower Plastic Credit is a digital proof that plastic collection or clean-up has been carried out. It is acquired against funds, thus supporting the reduction of plastic pollution, and focusing on plastic collected directly from the environment or hindered from entering the environment. Plastic Credits holds verified data of the plastic waste collection, including origin and environmental and social impact. This is facilitated through registration of the physical material on Empower Tracking, where material type, origin, condition, location, and time of collection are inputted and digitally prove the collection effort.
How Much is an Empower Plastic Credit Worth?
One Empower Plastic Credit represents the collection of 1 kg of plastic, but how much is this monetary speaking?
The value of a Plastic Credit is balanced between the supply of Plastic Credits issued by plastic collectors and the sponsors demand for supporting collection efforts. Currently, Empower curates the matching of supply and demand to ensure a fair distribution of donations. In a near future, this will change with the release of a Marketplace where the market itself determines the monetary value of the Plastic Credit.
Typical factors that sponsors look for when deciding which Plastic Credits to acquire are:
Geographical area of collection
Material type (PET/HDPE/LDPE etc.)
Origin (beaches/streets/households etc)
Registration documentation in Empower Tracking, such as pictures and other documentation
The story of the collectors; level of social, environmental, and educational impact
It is recommended that plastic collectors include as much detail and documentation as possible. Empower does not guarantee for how many Plastic Credits a plastic collector will be able to be funded, nor the exact price, but can support the plastic collector with recommendations that can help them reach their goals.
Note that 100% of the donation goes straight to the collectors who collect the plastic. We do this to strengthen the collectors, create local jobs and greater impact. The only costs for the collecting party are 3rd party costs for payment processing.
How Does the Plastic Credits Scheme Work?
Conceptually, the scheme works in the following way:
Collection organizations can create Plastic Credits on Empower’s platform by including necessary data about the collected material, such as material characteristics, time, location, and pictures from the collection process.
Companies can buy Plastic Credits from plastic collectors through the platform, and, this way, compensate their own waste footprint.
In parallel, the collection organizations receive financial support that contributes to the local waste management infrastructure, improve the local sanitation, and generate a positive impact among the workers, as well as additional job opportunities.
The registration, approval and funding of Plastic Credits is facilitated through the Empower platform with the following steps;
In short, issued Plastic Credits can be acquired by funding parties, and in return, the plastic collector earns the purchase price. Empower’s platform allows this process in a traceable and secure way for both parties, supporting all the steps from registration, validation, to independent verification.
Note:
Donation to plastic collectors is accumulated over a period of time, and not transferred from Empower to plastic collector immediately for each Plastic Credits sold.
The funding parties do not in any way acquire the physical materials, only the data representing the collection.
Empower does not guarantee how many Plastic Credits a plastic collector will be able to create, nor the exact price, but can support the plastic collector with recommendations that can help them reach their goals.
Requirements to Create Plastic Credits and Receive Funding
To be eligible to issue Plastic Credits, the following requirements apply, separated into two sections: A. Continous effort, and B. Support steps.
Continuous registrations are actions performed on a continuous basis to be able to qualify for the Plastic Credit funding.
1. Register material incoming to your facility
First, ensure that you have set up your relevant facility/facilities in Empower Platform to create plastic credit, as referred to in steps 4.-5. in this article.
Register incoming material in Empower Tracking as described in this article.
Good pictures/videos uploads with your registrations are key to why sponsors want to sponsor your organization. Read more about how you can increase funding in this article about picture examples.
Note: it's critical that the pictures uploaded actually represent the material registered. Pictures need to be unique to each registration. If failing to comply with these requirements, the registration will be rejected.
Note that certain data already registered on Empower Tracking can be edited in Empower Platform, as is explained here.
Any staff with access to Empower Tracking can do this step.
2. (If applicable: Record material processed at your facility)
If your organization is transforming/processing the physical materials, make sure to update these steps with the 'Process' functionality.
Any staff with access to Empower Tracking can do this step.
3. Deliver materials going from your facility
Register the delivery of your material - ensure you use the correct alternative.
Uploading documentation of how the material was handled or who it was delivered to is a strict requirement. It needs:
Examples of documentation: receipts, weighbridge ticket datasheets, invoices, or letters from off-taker or its waste center. The documentation needs to include information verifying the volume batch with date, weight, and parties (individuals/organizations).
If you are unable to provide formal proof of the handling of the material, Empower can authenticate your delivery if your off-taker also uses Empower's platform - talk with your Empower contact about how your off-taker can sign up as well!
Note that certain data already registered on Empower Tracking can be edited in Empower Platform, as is explained here.
Any staff with access to Empower Tracking can do this step.
4. Create Plastic Credits
Create Plastic Credits from your registered material.
Only approved Plastic Credits are eligible for funding. You are responsible to sign off the volumes for which you desire to receive funding.Must be completed by the managing staff of the organization, who has access to Empower Platform.
Onboarding steps are actions that need to be done only once, or a few times, before being able to qualify for the Plastic Credit funding.
1. Fill in the Plastic Credit Impact Form
For Empower to know the impact of your effort, fill one Plastic Credit Impact Form for each pairs of material type/origin you will be creating Plastic Credits from.
Should be completed by the managing staff of the organization
2. Fill in the due diligence form
Fill in a short due diligence form on behalf of your organization.
Should be completed by the managing staff of the organization
3. Update organization profile
Update your organization profile. This should include;
Organization logo
General details
Website (alternatively LinkedIn business account - see how to create here)
Organization description: info about the organization and what impact you are making. 10-15 sentences. The information you provide here will be accessible by the sponsors and may determine whether they will choose to sponsor your organization or not. Therefore, we encourage you to include as much info about your operation, as well as its social and environmental impact.
Must be completed by the managing staff of the organization, who has access to Empower Platform.
4. Provide bank account details
Please provide the details of the bank account where you wish to receive the money so Empower can transfer the funds
Should be completed by the managing staff of the organization.
5. Update Facility details
Update the info for all your facilities. This includes;
facility location/address as accurate as possible;
facility photo (group photo or other photo representing the facility).
Must be completed by the managing staff of the organization, who has access to Empower Platform.
This page, as well as further details about Empower Plastic Credits, are still being developed and revised. Please revisit this page for up-to-date information.