The tokens work in a similar way to carbon credit tokens, with the difference being that the money raised from companies participating in the platform with the sale of crypto assets is used, which, in this case, should be used for “new investments in infrastructure that add value to the recycling chain with Their co-benefits, particularly when creating a positive social impact through job creation and inclusion.”
Practically speaking, companies with post-consumer waste recovery goals can get hold of these crypto assets, as tokens give access to verified and vetted evidence that works to meet legal requirements, and at the same time, fund infrastructure projects as well. To promote a circular economy and accelerate the reintroduction of plastics and other recyclable materials into new products.
According to BASF, the first token rollout is related to the operation of a future Urban Solid Waste Sorting Unit (RSU) in Caieiras, São Paulo. The infrastructure, which is part of the Solí structuring program, will make it possible, after obtaining a license, to recover a small part of the recyclables contained in household waste, which would originally be sent to landfills, and to create their equivalent in reverse logistics tokens.
“Our goal is to provide a solution for businesses and brand owners to fulfill their reverse logistics obligations, as well as create a positive ESG impact and increase recycling rates nationwide. To this end, the investment in the multi-technology unit of Caieiras is part of Solví’s structuring program, which aspires to implement about ten sorting plants aimed at recovering post-consumer waste, ”explains Solví Group CEO Celso Pedroso.
BASF President for South America, Manfredo Robbins, described the initiative as “an innovative way to use digitization to promote a circular economy in the chain of different materials, especially plastics, adding value to materials that would previously have been discarded, and, promoting the development of new businesses.”
He added, “It is important to stress that the initiative aims to create a positive social impact, job opportunities, inclusion and income.”
Citing figures from the Brazilian Association of Public Cleaning Companies and Private Waste (Abrelpe), related to the annual generation of 80 million tons of garbage, and the addition of household and urban cleaning waste, with less than 4% recycling of this amount, BASF added that ReciChain’s goals include Also linking the various players in the recycling value chain, accelerating investments in infrastructure, especially those with a positive social impact, transparency, and increasing recycling rates in Brazil.
