Rebound Launches Digital Trading Platform for Recycled Plastics
Rebound, a subsidiary of Abu Dhabi Stock Exchange-listed International Holding Company (IHC), has launched Rebound Plastic Exchange (RPX), a global business-to-business digital trading platform for recycled plastics.
Industry members in the Middle East, North America, Latin America, India, Southeast Asia and Europe have already subscribed to RPX which will potentially facilitate the recycling of 5 million tonnes of plastics by 2025.
The new exchange will help shift plastics from regions that have inadequate recycling facilities to regions that are short of feedstock, addressing the challenges of reducing plastic waste while creating high quality recycled plastics.
To ensure that the traded material is compliant with shipment criteria in line with Basel Convention and EU regulations, RPX will run material specification sheets, endorsed by industry membership association RECOUP, tailored according to each listing found on the RPX B2B marketplace.
Additionally, it will also implement a passporting system to operate end-to-end digital certification.