US carbon credits certifier Verra on Monday published corrections and clarifications to several documents in its Plastic Waste Reduction programme.

The updated documents include PWRM0001 Plastic Waste Collection Methodology, v1.1; PWRM0002 Plastic Waste Recycling Methodology, v1.1; and Plastic Program Definitions, v1.0.

The corrections and clarifications include updates to guidance on regulatory surplus, baseline requirements, term definitions, and language in methodology applicability conditions.

The Plastic Waste Collection Methodology (PWRM0001) and the Plastic Waste Recycling Methodology (PWRM0002) were both updated to include revised definitions and new guidance for incorporating mandated Extended Producer Responsibility (EPR) schemes to demonstrate regulatory surplus.

PWRM0002 was also revised to include new guidance for determining baseline recycled plastic waste in capacity addition activities.

The corrections to the Plastic Program Definitions document also consist of updated definitions.

Last week, Verra also issued corrections and clarifications to its REDD methodology.

Verra and Plastic Credit Exchange (PCX) are among the early movers in the plastic credit space, verifying and issuing units for activities such as plastic recycling and plastic waste collection.

The standards are advocating for plastic credits to be included in the UN plastics treaty as a key financing mechanism to help bridge the funding gap on waste collection and management, poised to reach an estimated $40 billion by 2040.

By Dimana Doneva – dimana@carbon-pulse.com