Launch of the VRC Initiative at COP28 marks world’s first standard to incentivise recycling globally

Launch of the VRC Initiative at COP28 marks world’s first standard to incentivise recycling globally

The VRC Initiative establishes a set of standardised rules and processes to enable institutions to compensate their solid waste footprint through a transparent ecosystem.

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In response to global waste crisis and aligning with global commitments to Environmental, Social, and Governance (ESG) standards and net-zero targets, an international consortium led by Roland Berger and BEEAH Group, in collaboration with DFINITY Foundation, and the International Solid Waste Association (ISWA), demonstrated the world’s first global incentive system to counteract the solid waste footprint.

Supported by the UAE Ministry of Climate Change & Environment (MoCCaE) and the COP28 Presidency, the public-private coalition introduced the Voluntary Recycling Credits (VRC) Initiative at the UAE Pavilion at COP28, marking a new era of positive climate action.

Commenting on the initiative, Hani Tohme, Managing Partner, Roland Berger Middle East said, “The VRC Initiative is built to solve a concrete market gap: with the private sector setting more commitments towards net-zero and circularity, we also acknowledge major barriers to deliver on it. Double-counting, transparency, cost-effectiveness. We decided to tackle it over solid collaboration and exchange between public and private sector, with a