Frequently Asked Questions
Here are some of the most frequently asked questions about Plastic Bank.
Partnerships
How can companies and individuals get involved?
Check out our Partnership Programs.
What are Plastic Credits?
Plastic Credits fund ethical recycling action in our collection communities, such as payment of premiums to our members for the material collected, as well as the infrastructure needed to reintegrate that material into the supply chain. Each Plastic Credit guarantees the recovery of 1 kilogram of ocean-bound plastic.
What does Plastic Net-Zero mean?
Plastic Net-Zero is defined as a zero-sum plastic footprint. A product or product line can achieve this by purchasing plastic collection credits from Plastic Bank equal to the amount of plastic used in the products and packaging, during a specified period of time.
What is Plastic Bank’s Impact on the UN Sustainable Development Goals?
Plastic Bank is advancing 17/17 UN Sustainable Development Goals through our collaboration with various partners and community organizations.
Our Impact Program and Social Plastic® partners deliver directly against the following Sustainable Development Goals:
1: No Poverty
8: Decent Work and Economic Growth
12: Responsible Consumption and Production
14: Life Below Water
17: Partnerships for the Goals
Can you provide definitions for the terms used in my impact dashboard?
People Impacted: Total amount of individual members that you have supported through your impact. Certified Plastic Bank branches use the mobile app to record each exchange in the blockchain ledger. Collections are logged by branch managers that verify members (through photo ID) and their plastic collected by type, weight and quality. Alchemy assigns, allocates and locks each collection to one partner only, creating impact claims that cannot be double counted towards any other partnership.
Communities Impacted: Each collection branch serves a vulnerable coastal community. This tells the total number of unique branches impacted by a partner. Each transaction in the blockchain ledger tracks the Certified Plastic Bank branch where the collection took place. "Communities Impacted" in a partner’s impact dashboard is the total number of unique Certified Plastic Bank branches where a collection was allocated to that specific partner.
KG Extracted: Total weight in kilograms of all material collected through the branches and members that you support. All plastic is weighed at the branch and recorded in blockchain ledger.
Bottles Prevented: The plastic bottle equivalent of your kilogram extracted. One kilogram is the equivalent of 50 single-use 500ml plastic bottles.