Ecosurety, a resource efficiency specialist, confirms that producers and reprocessors can sign up to a platform that enables Packaging Recovery Note (PRN) obligation money to be transparently invested – for the good of the waste and recycling industry. ‘Circularety’ is claimed to be the only platform that shows companies governed by Producer Responsibility Obligation Regulations exactly where and how PRN money is being invested. The online platform empowers obligated producers and reprocessors to invest in tangible recycling projects and schemes and to communicate about them. It also enables producers to present detailed PRN expenditure to the board, and publicise CSR and environmental credentials in relation to significant sums of PRN money spent every year.
Reprocessors will be able to use Circularety to showcase projects that producers can invest in using their PRN obligation money. In this way reprocessors can attract larger sums for investment. James Piper, Managing Director of ecosurety, which created Circularety, explains, “The PRN system is a good one in itself, because it has helped the UK to significantly increase its recycling rates over the years. However, producers and industry bodies have expressed concern about the system, which does not encourage transparency, particularly in relation to what happens to PRN money once obligations have been purchased. Circularety means for the first time producers will be able to choose exactly where their PRN money is spent and reprocessors will be able to put forward investment projects that will benefit the recycling industry. We anticipate Circularety will remove price volatility from the PRN system caused by uncertainty over PRN supply and demand.”
Figures depicted are for illustration purposes only and do not represent those of any producer.