#Singapore #Plastic Waste #B Corp #PCX Markets

PCX Markets Achieves B Corp Certification

PCX Markets, a Singapore-based leader in plastic waste recovery and responsible processing, has recently been certified as a B Corporation™ (B Corp). This certification signifies the company’s commitment to meeting rigorous standards in environmental performance, accountability, and transparency, aligning it with over 9,400 other B Corps across 105 countries that prioritize social good alongside their business objectives.

The process for PCX Markets was intensive, involving a thorough assessment of its operations through five critical impact categories: governance, workers, community, environment, and customers. Sebastian DiGrande, CEO of PCX Markets, expressed pride in reaching this milestone, stating, "The team at PCX is on a mission to accelerate the transition to a circular economy, ensuring that no plastic waste ends up in nature. Being a B Corp is a testament to our dedication to transparency and accountability, and we are excited to join this global movement of purpose-driven businesses."

The statistics regarding plastic waste management are staggering: since the 1950s, approximately 9 billion metric tons of plastic have been produced globally. Surprisingly, only 9% of this waste has been recycled, while 72% is either landfilled, incinerated, or ends up in our environment. If plastic production were cut by 40% by 2050, the world would still see an additional 11 billion tons generated, stressing the urgent need to manage it responsibly.

Through its innovative marketplace, PCX Markets collaborates with various partners to collect, transport, and process plastic waste ethically. The organization also invests in communities impacted by plastic pollution, striving to enhance livelihoods and foster social impact. Companies looking to contribute to plastic waste recovery can purchase credits from PCX Markets, each credit representing the cleanup of one metric ton of plastic pollution. This model allows for immediate and verified impacts through third-party audits.

To date, PCX Markets has facilitated the cleanup of over 108 million kilograms of plastic waste worldwide. Nanette Medved-Po, the company’s founder, reflected on the significance of the certification by saying, "As a B Corp in the sustainability sector, we're thrilled to be counted among businesses that are building an inclusive, equitable, and regenerative economy."

About PCX Markets

PCX Markets aims to accelerate the transition towards a circular economy, aspiring to a future where no plastic waste enters nature. The company operates an entirely transparent plastic credit marketplace for audited waste recovery and responsible processing globally.

By engaging and supporting community partners on the ground, the organization enhances local livelihoods and amplifies social impact. The comprehensive efforts of PCX Markets are reshaping how businesses approach environmental responsibility while promoting sustainability and ethical practices within the industry.

About B Lab

B Lab is at the forefront of transforming the global economy for the benefit of all people, communities, and the planet. It formulates standards and programs for business, certifying companies that meet these benchmarks of performance and accountability. Currently, the network consists of over 900,000 workers across 9,400 B Corps, all committed to creating positive change.

PCX Markets' B Corp certification not only underscores their hard work in plastic waste recovery but also sets a remarkable example for other companies in the industry, proving that profitability and social responsibility can, indeed, go hand in hand.