Green Tech issued European first Gold Standard for PET recycling

Romania's Green Tech has become the first recycling company in Europe to be endorsed by the Gold Standard for issuing carbon credits for PET plastics recycling.

The company received recognition for their emissions reductions initiative which looks to proactively reduce greenhouse emissions during the PET recycling process that would otherwise be required for the production of plastic products made using virgin inputs.

Read more: Construction begins on pioneering plastic recycling plant in UK

The evaluation has left the Romanian firm with roughly 453,000 carbon credits - permits which allow for companies to emit a certain amount of CO2 or other greenhouse gases - on the voluntary carbon offset market with an estimated annual greenhouse emissions reduction of over 45,000 tonnes of CO2 per year over a 10-year period.

These credits are set to be sold to companies striving to reach decarbonisation targets or individuals that aim to reduce or neutralise their carbon footprints.

During its first monitoring period, Green Tech received 63,000 credits, some of which who have already been purchased by clients aiming for ner-zero in the near term, but who may struggle to achieve them.

Green Tech's general manager Alina Elena Genes said the company's achievements prove plastics recycling has become essential in fighting climate change.

She added: "We take great pride in becoming the first recycling company in Europe to achieve this recognition and we believe this shows not only our commitment to reducing carbon emissions but also highlights our mission to create a sustainable and fair environment, both on a national and European level.

 "We are happy to see the price paid for carbon credits on the voluntary market continues to increase as projects offer more benefits to communities and the environment, with buyers becoming more responsible and committed to reducing their carbon footprints. We are confident this trend will continue in the future.”

Read more: Unilever NA invests $15 million in plastics recycling

The concept for a carbon gold standard was established in 2003 by the World Wide Fund for Nature (WWF) and other NGOs with the goal of ensuring projects which claim to reduce carbon emissions are of the highest environmental integrity.

Alongside reducing carbon emissions, the Green Tech project was also evaluated based on its proven record of achieving objectives in line with the UN Sustainable Development Goals. This extensive list includes contributing to climate action, gender equality, creating clean and affordable energy and focusing on good health and wellbeing.

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