Dubai PR Network, Online Press Release from Dubai and Middle East
Environment & Nature(Government, Legal & Humanity)
Filter PR by
Rebound Plastic Exchange to Support GCC-wide Efforts in Sustainable Waste Management
Rebound Plastic Exchange to Support GCC-wide Efforts in Sustainable Waste Management

Rebound Plastic Exchange, a quality assured global trading platform for recycled plastics, will ensure transparency whilst facilitating cross border trade to unlock circularity worldwide

Abu Dhabi , UAE – 22 November 2022: Rebound Plastic Exchange, a global B2B digital trading platform for recycled plastics, is ready to support the Cooperation Council for the Arab States of the Gulf (GCC) in achieving sustainable waste management. Currently, it is estimated that it will take USD 60-85 bn . invested across four key value streams, plastic, concrete & cement, metal, and bio-waste over the next 20 years to meet targets throughout the GCC region - according to a new report by Boston Consulting Group (BCG) in collaboration with the World Business Council for Sustainable Development (WBCSD). 
The recent launch of Rebound Plastic Exchange will spur trust and quality assurance amongst buyers and sellers in the GCC, providing companies and nations with a vital benchmark for their capacity to adopt and trade quality assured plastics, equip them with frameworks to facilitate exchange, and highlight the tangible benefits of transparent plastic trading.

Maryam Al Mansoori, General Manager, Rebound Plastic Exchange, said: “Facilitating the demand supply gap with the GCC’s recycling infrastructure will position the GCC as a key actor in the global effort towards circularity. Rebound Plastic Exchange can help do just that.”
The report, titled “Recycling in the GCC: Securing Valuable Resources for a Sustainable Future”, finds that the GCC generates between 105 and 130 million tons of waste per annum, and that the USD 85 bn. investment stronghold would cover design, collection, sorting, and recycling investment across these four key waste streams. 

The recorded numbers underscore how the generated waste in the Gulf countries comes primarily from Municipal Solid Waste (MSW), Construction and Demolition Waste (CDW), and agricultural waste .

As the host of COP28 next year, the UAE has an opportunity to not only drive climate action at home but also to set an example to the world. Hosting the International Solid Waste Association (ISWA) World Congress in 2023, Oman will certainly build on the momentum by attracting key stakeholders to the region. 
The Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) together account for approximately 75% of the region’s waste, which accentuates the joint WBCSD-BCG study . Under the theme, “Chemistry in Action: Shaping a Sustainable Future,” the 16th Annual Gulf Petrochemicals and Chemicals Association (GPCA) Forum, taking place from 6-8 December 2022 in Riyadh, KSA, will attract global and regional leaders in the chemical industry to discuss designing more sustainable value chains through collaborative ventures. The forum will host the inaugural Gulf Petrochemicals and Chemicals Association Symposium under the slogan 'Delivering our Plastics Circularity Ambition' to provide a platform for collaboration and knowledge exchange towards a plastics circular economy. 

The Gulf Petrochemicals and Chemicals Association (GPCA) represents the downstream hydrocarbon industry in the Arabian Gulf. Established in 2006, the association voices the common interests of more than 250 member companies which include Borouge, QAFCO, among others. The industry makes up the second largest manufacturing sector in the region, producing over USD 108 billion worth of products a year.

Dr. Abdulwahab Al-Sadoun, Secretary General, GPCA, commented: “Plastic waste - when harnessed and managed properly - has significant value which can be tapped into to drive our circular economy efforts. Plastics also perform better when compared to alternatives when it comes to GHG emissions. According to a recent study by McKinsey & Co. there are few viable alternatives to plastics in food packaging applications, with plastics having a lower GHG impact in 13 of the 14 non-plastic alternatives analyzed. This is thanks to its Inherent properties which help to drive down CO2 emissions in many modern applications today.'
In fact, where poor plastics disposal practices can threaten human health, its sustained recycling could cut carbon dioxide emissions by 10 to 12 million tons each year and reduce primary energy consumption by around 4% overall.
Yet at present, low GCC recycling rates are leading to losses of large volumes of recycled plastics, which have crucial applications, such as in construction, medicine and food packaging. 

Plastic consumption in Qatar is still currently capped at 145.8kg per capita, out of which a mere 1% is recycled. The highly anticipated global football event is currently expecting 1.5 million visitors this quarter . A series of workshops were held to provide local organizations and businesses with tools to host the upcoming wave of participants and prevent single-use plastic consumption from snowballing . Current plans to seize 60% of all waste produced during the football season for recycling will act as a clear differentiator .

Today, the UAE plastic recycling market is forecast to reach 1.44 million tonnes by 2030 , and could greatly benefit from neighbouring Bahrain, a state that bolsters material recycling (MRF) and plastic (PRF) recycling facilities but lacks feedstock. 
Increasing waste circularity aligns with environmental and economic benefits since recycling was proven to create over 50 times as many jobs as landfills and incinerators and translates to at least 200 - 300 thousand jobs in the GCC by 2040 .


Posted by : Editorial Team
Viewed 2239 times
PR Category : Government, Legal & Humanity
Posted on : Tuesday, November 22, 2022  2:46:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Collective Action on Nature-based Solutions to be Showcased ...
Next Story : The Environment Agency - Abu Dhabi Hosts Youth Debate Around...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Pandora Launch a New Limited-Edition Charm in Support of UNICEF Giving Young Voices the Ch... [14588-Views]
Ogilvy Celebrates a giant performance at this year's LIA's – Including awards for Global ... [11394-Views]
The Face Shop Introduces Vegan Skincare in the UAE [6142-Views]
Opening Day of 22nd Edition of Cityscape Sees Numerous New Developments Showcased inside D... [5072-Views]
MG International Fragrance Company Reinforces Presence in the Growing Middle East Region [4883-Views]
Dubai Islamic Bank Successfully Prices USD 750 Million Inaugural Sustainable Sukuk [4678-Views]
Dubai's Real Estate Market Continues to Ride High on Strong Investor Confidence [4535-Views]
Dubai Future Foundation Announces Winners of the Smart Toys Competition 2.0 [4268-Views]
Dubai Customs Launches Awareness Campaign on Digital Services for Passengers [4014-Views]
Jaeger-Lecoultre Participates in the 30th Edition of Jewellery Arabia Bahrain [3788-Views]
What a shot! David Beckham Snaps a Scenic View as Qatar Tourism unveils Posts of Qatar [3247-Views]
60 Years of James Bond: OMEGA welcomes Daniel Craig to a London celebration [3165-Views]
Gulf Islamic Investments Launches a $100million Shari'ah Compliant Debt Fund [3157-Views]
Burj Khalifa by Emaar to Host a Cutting-Edge Laser Light Extravaganza and Phenomenal Firew... [3149-Views]
Samsung MENA Launches the First-ever Roblox ‘Space Cup' Football Tournament [3079-Views]
Michelin Star Chef and UK Consul General Welcomed for Jumeirah College Bake Off [3026-Views]
Global Village Announces Spectacular Celebrations to mark the 51st UAE National Day [2890-Views]
Asha's Proposes a UAE National Day Inspired Menu [2849-Views]
DLD Enriches its Participation in Cityscape 2022 with Innovative and Sustainable Real Esta... [2833-Views]
Laundry Done the Easy Way - Home Automation by Midea [2796-Views]
Network International, American University of Sharjah Collaborate to Empower Youth Enterin... [2792-Views]
More Style, Tech and Comfort – MG's Popular RX5 SUV is Reborn [2763-Views]
Waterfront Market unveils Dubai Consumers Shopping Preferences [2743-Views]
Verstappen Closes Out the Season with his 15th Win of the Year at the Abu Dhabi Grand Prix... [2722-Views]
Reel Cinemas will make UAE Cinema History by Giving an Incredible 51% Discount on All Movi... [2718-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories