Hussam Abdulnabi (Dubai) launches “Rebound Plastic Exchange” platform, the “first digital passport” for recycled plastics in the UAE, to enable multinational manufacturers and companies to access high quality plastic materials , certified and traceable, according to Maryam Al Mansouri, General Manager of Rebound. Ltd. of the International Holding Company, listed on the Abu Dhabi Stock Exchange, explaining that the new platform supports commitments announced by governments around the world, through its “digital passport” system for recycled plastics. materials, which includes the issuance and issuance of quality certificates to each of the seller and buyer, adopts unified global standards for recycled plastic resources, thus facilitating the exit and entry into cross-border trade.
In statements to Al-Ittihad, Al-Mansoori confirmed that the platform will contribute to efforts to reduce plastic pollution worldwide and improve the UAE’s position as a regional and global hub for the trade of recyclable and recyclable plastics. recyclable, in addition to contributing to the promotion of the circular economy globally and attracting new types of investment By opening up a global business opportunity worth 56 billion dirhams.
It is expected that about 5 million tons of recycled plastics will be traded through the “Rebound Plastic Exchange” platform, which will achieve economic benefits in addition to contributing strongly to reducing carbon emissions by facilitating the circulation of recycled plastics, as the recycling process. million tons of plastic is equivalent to removing emissions.Carbon emissions from the exhaust of one million cars, which is a significant and environmentally impactful contribution.
Al Mansouri said the UAE has taken ambitious steps to consolidate its position as a global center for sustainability through the Green Economy Initiative, and through Rebound Ltd., we look forward to contributing to strengthening local and global efforts by developing solutions that enhance skills. support the goals of sustainable development and preserve the environment for the benefit of future generations.
She added that the headquarters of Rebound Ltd is located in Abu Dhabi and the company’s platform offers an innovative solution for both sellers and buyers that guarantees them quality and confidence when trading and trading recycled plastic raw materials or recycled plastics, by explained that the platform aims to increase the efficiency of the plastics recycling sector. Large-scale circular economy, offering new economic opportunities and contributing to the reduction of plastic pollution.
Al-Mansoori showed that there is a growing trend among companies around the world to use recycled plastics, as companies pledged to increase their content of these materials by 20% to 30% by 2025, revealing that there are still an expected gap of 6.3 million. tons of these materials until the Companies are able to meet their obligations, noting at the same time that 75 million tonnes of used plastic, representing one third of the annual total, are disposed of, either by incineration or illegal disposal, after these wastes penetrate. directly into the environment.
Al Mansouri stated that the “Rebound Plastic Exchange” platform will play a key role in providing value to the plastics recycling sector, enabling domestic and international companies to have access to quality guaranteed primary plastic materials that can be used in production of everything, starting from shoes. The platform also acts as a catalyst to encourage more workers in the plastics processing and recycling industry to join this lucrative market, promoting sector growth and creating economic development opportunities at the local level.
Regarding the advantages that the trading platform will offer to traders in the plastic recycling market, Al Mansouri stated that the platform will offer an innovative solution that contributes to efforts to reduce plastic pollution worldwide through the marketing of recycled plastic materials. , enabling buyers and sellers to communicate and trade according to a system similar to the Commodity Exchange.
She said the Rebound Plastic Exchange platform will simplify and facilitate the circulation of recycled plastic materials worldwide to create a circular economy for plastic waste locally, regionally and globally, noting that the platform will also provide entrepreneurs and companies working in the field of plastic waste treatment, the opportunity to take advantage of the advantages offered by the platform and its systems that guarantee them access to the wider global market and build their reputation.
Al-Mansoori confirmed that the platform paved the way for traders to enter the global circular economy market and to enter many markets around the world in countries that do not have local capabilities to treat or consume plastic waste, noting that in addition to In addition, the issuance process of these certificates will complement the government’s efforts and commitments to amend the Basel Convention on the Plastics Trade, promoting responsible participation in the recyclable plastics trade.
Regarding the availability of a supply chain for international companies that enables them to access the necessary quantities of plastic raw materials to meet their share of the recycled content they use in the production of their products, Al Mansouri stated that currently there is no supply chain. for international companies that would enable them to meet their commitment to meet regulatory requirements, such as the Circular Economy Action Plan issued by the European Union, which proposes a commitment to the use of recycled content in the production of plastic products, as they aspire to record rates of use of recycled plastic materials up to 50% by 2025 and 55% by 2030, emphasizing that the exchange of the platform “Rebound Plastics”, will increase the trust and transparency of trade in recycled plastics and will ensure a regular supply chain of high quality Plastic Raw Materials that will enable companies to meet their commitments and achieve their sustainability goals.
Al-Mansoori warned that despite the possibility of recycling about 100% of plastic waste, the global plastic recycling rate does not exceed only 15%. From this perspective, she said, the “Rebound Plastic Exchange” platform will bridge the huge gap in global markets, facilitating the operations of the circular economy, providing a transparent and quality-guaranteed platform for the purchase and provision of plastic raw materials for recycling and meeting growth. demand from consumer goods companies, ending. Certainly the Rebound Plastic Exchange platform will create new economic opportunities and an innovative way to access about 80% of countries that do not have local capacity to treat or consume waste plastic.