ABU DHABI, September 5, 2022 (WAM) — Rebound, a subsidiary of International Holding Company (ADX: IHC), announced on Monday the launch of Rebound Plastic Exchange (RPX), a global B2B digital trading platform for recycled plastics. celebrated the rise. The global plastics market is projected to reach US$45.6 billion by 2025, making it a tipping point for the industry.

The global launch convenes world leaders from government, business and civil society to expand investment opportunities through dynamic exchanges, while untapped plastics trade enables global circulation and fills demand gaps. We discussed how to provide opportunities for

The announcement was made by Maryam Al Mansoori, CEO of Rebound, during her keynote address. Provides the capacity to adapt and trade quality-assured plastics, provides a framework for facilitating exchange, and highlights the tangible benefits of trading in transparent plastics.Strengthening responsible participation in the recyclable plastics trade. To do. ”

Commenting on the occasion, Dr Rodolfo Lacy, Director of Climate Action and Environment for Latin America and OECD Special Envoy to the United Nations, said: Dependent on fossil fuels or their substitutes. Plastic products and the pollution they cause must be addressed from a life cycle perspective, as well as an inevitable responsibility to heal damaged ecosystems and species. Rebound’s digital solutions are an example of effectively accelerating its implementation: a global circular economy and international development through sustainable trade. ”

To ensure continued transparency while facilitating cross-border transactions, RPX has implemented a specification sheet approved by the industry membership association RECOUP, tailored according to each listing found on the RPX B2B Marketplace. increase. These specifications were developed by a group of industry experts.

RECOUP CEO Stuart Foster said: Extensive yet easy to follow, it promises to be an excellent starting point for ensuring material compliance with shipping standards such as the Basel Convention and recent changes to EU shipping regulations. .

“There are many ongoing challenges and questions facing us all, which coincide with a fundamental shift in attitudes towards improving the long-term use of plastic resources and developing circular economy models. These specifications help bridge the gaps between known limits.The development of recycling infrastructure, the promotion of responsible exports to meet higher recycling rates and targets in both developed and developing markets. necessity.”

Rebound and Abu Dhabi Global Markets (ADGM) have joined forces to accelerate the mobilization of private capital for low-carbon, environmentally sustainable and climate-resilient investments. Rebound and ADGM plan to further advance sustainable finance throughout the Abu Dhabi Finance Week, Abu Dhabi Sustainable Finance Forum (ADSFF) and the School of Sustainable Finance curriculum.

ADGM Registration Authority CEO Dhaher bin Dhaher Al Muhairi said: At the heart of such solutions. ADGM will have a significant impact on global business models and financial practices. Our collaboration with Rebound Plastics will strengthen Circularity’s position in the market and globally. A financial center and a catalyst for growth. As, ADGM will continue to work with like-minded partners to advance the sustainability agenda to address the development and growth needs of our country and the wider region. ”

Through this collaboration, Rebound joined a panel of 69 public and private signatories to the Abu Dhabi Sustainable Finance Declaration launched in 2019 under the auspices of the Ministry of Climate Change and the Environment (MoCCAE), the UAE Central Bank and securities firms. increase. The Commodity Authority reaffirmed Rebound’s commitment to achieving and promoting green and sustainable investments.

As the technical expert leading the development of the RPX material specification sheet, Professor Edward Kosior, Managing Director of Nextek, said: By 2050, it will be burning, especially in underdeveloped and developing countries.The increasing urgency for plastic circularity is clear, and with increasing demand for high-quality recycled plastic raw materials, quality , standardization, transparency, and trust are key trading factors.It is against this backdrop that RPX has invested in a world-class certification protocol that incorporates industry best practices for material specifications. ”

With this in mind, RPX will implement an innovative passport system to operate end-to-end digital authentication according to global standards to restore trust and simplify transactions for buyers and sellers of recycled plastics.

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