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New Delhi, Delhi, India (NewsVoir)
Ecoex, India’s first plastic credit certificate trading platform completed transaction of 5000 MTs of recycled plastic waste this month since its commencement.
Ecoex is the brainchild of Nimit Aggarwal, an eco-entrepreneur with nearly 10 years of experience in the global plastic recycling industry. Intending to contribute his mite to the circular economy, Nimit started Ecoex, India's first digital plastic credit certificate trading platform. Ecoex issues plastic credit certificates, enabling plastic producers and brand owners to connect to a pool of plastic waste processors and recyclers, across India, to strengthen the plastic waste management value chain.
Ecoex, has already on-boarded 24 recyclers, 10 authorised collectors with multiple ULB agreement and 6 PIBOs’ since its inception.
The digital platform facilitates seamless transaction of plastic credit certificates between PIBOs’ and recyclers/co-processors. The plastic credit certificates documents authenticate PIBO's conformity with the recycling standard under the Plastic Waste Management Rule 2016 and relevant amendments of Govt. of India.
After achieving the first milestone of 5000 MT, Mr. Aggarwal is confident of achieving the 2nd Milestone of 100,000 MTs during this fiscal year. This will be possible with steady growth on on-boarding of more partners and digitisation of the entire process in the value chain, starting from collection, ULB endorsement, transportation and recycling. All documents authenticating each process in the value chain are captured and allotted unique identification numbers automatically by the system and ensures no duplication.
Ecoex is also enhancing the software features by adding ULB specific dashboards. This uniquely designed dashboard with look & feel of user ULBs will help them to register, monitor, endorse and facilitate plastic credit certificate transactions with brands. Going forward, Ecoex is also willing to develop and gradually expand the public-private partnership model with ULBs to tackle the complex problem of India’s waste management.
EcoEx aims to make manufacturers aware about the EPR obligation as mandated by PWM rules: disposal of plastic waste ethically and for the same they are coming out with a webinar on 19th May 2021. The company has invited experts from the industry - Mr. Ulhas Parlikar (Global consultant & EPR expert) and Ms. Sanchita Jindal (Former Adviser, MoEf& CC) as speaker. To register yourself click on - bit.ly/3tZNLq5 . The last day for registration is 17th May 2021.
For more information, please visit the Ecoex website.
Image: Mr. Nimit Aggarwal