Non-profit organaisation, BVRio, has launched its Circular Action Hub, an online platform that sets out to connect circular economy projects and initiatives with investors. Through the Hub, BVRio also introduces the Circular Credits Mechanism – a system of performance-based payments for environmental services of circularity, that aims at fostering inclusivity and wider social participation. Circular Action Hub was originally created to host projects from the 3R Initiative founded by BVRio, Verra, Nestlé, Danone, Tetra Pak.
Recognising that there is a huge diversity of circumstances, technologies, and approaches that can be used by projects in different parts of the world, the Hub does not assume that a ‘one size fits all’ approach can be defined at the outset, BVRio says. Instead, it adopts a ‘learning-by-doing’ approach and strives for continuous improvement of its requirements based on the experience learned with participating projects. To guide this learning process, an Advisory Group was created with representation from both the ‘buy-side’ as well as technical, scientific and social sector organisations interested in the social and environmental quality of the initiatives promoted.
At the time of the launch, more than 100 projects from 35 countries are in the process of listing their initiatives in the Hub, with an aggregate capacity to recover more than 300,000 tonnes of waste materials from the environment. In addition, the Hub has also included a series of projects with strong social impact, such as those creating economic opportunities for refugee camps in collaboration with the UN Refugee Agency (UNHCR) and Kenya Red Cross (KRCS), as well as with waste collector cooperatives in Brazil and India.
Source: Circular Online
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