11 Dec 2023 --- A public-private coalition launched the Voluntary Recycling Credits (VRC) initiative, a set of standardized rules and processes to enable institutions to compensate their solid waste footprint through a transparent ecosystem, at COP28. The VRC initiative mechanism involves trading “recycling credits” on a blockchain-based marketplace, ensuring auditable and secure transactions between waste offsetters and recycling companies. The initiative aims to boost the collection and recycling of solid materials, furthering the management of all types of waste. The full-scale platform is set to be developed and officially launched in 2024.
