A Kuala Lumpur-based carbon offset developer has launched a plastic waste collection and recycling methodology in a bid to establish itself in the emerging plastic credit market.

Malaysian developer Karbon Hero announced Wednesday the launch of its methodology, adding that the plastic credits generated from the methodology will help to address global plastic pollution by incentivising the removal of plastic waste from the open environment, through the collection, recycling, and sustainable storage of plastics.

Under the Micro-Offset Methodology (MOM) framework developed by Karbon Hero, projects of any size will be able to participate and generate income from their plastic waste collection, recycling, and storage efforts, the developer said.

The plastic credits, to be known as Genesys Plastic ECO-Credits, will be issued by Genesys Reserve, a carbon registry established and operated by Karbon Hero.

“We find ways to provide simple and practical solutions without compromising quality. Our plastic waste and recycling methodology is the product of extensive research and development that aims to push for impactful environmental uplift while addressing issues of transparency and reliability,” said Sarah Shahril, CEO of Karbon Hero.

“Through incentivising plastic collection and recycling activities, we can make a significant contribution to ecological conservation and reduce environmental and human health risks posed by plastic waste.”

As well, through plastic credits generated under the MOM framework, corporates and other funding organisations will be able to support projects through their ESG and CSR initiatives.

Interested parties will be able to gain exclusive access to the methodology and project planning by signing up as an ECO-Credit developer or ECO-Credit funder, the developer said.

Earlier this year, the two-year old developer launched an avoided deforestation methodology – a first by a Malaysian firm.

Karbon Hero has also launched methodologies for e-mobility, electric vehicles, and solar energy to be piloted on its registry, Genesys Reserve.

“At Karbon Hero, our intentions of creating a sustainable future is rooted in the motivation to also uplift and support communities,” Reuben Ravi, chief strategy officer of Karbon Hero, said.

“We are revolutionising the market by propagating the idea that limited money or technical expertise is not a reason to be left behind in green financing.”

By Nikita Pandey – nikita@carbon-pulse.com

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