The Rebound Plastic Exchange (Rpx) platform will help buyers and sellers worldwide to trade recycled plastic with transparency.
The platform will run specification sheets personalised for each listing available on the RPX B2B marketplace.
The sheets were developed by a group of industry experts and endorsed by plastic recycling organisation RECOUP.
WAM quoted Rebound CEO Maryam Al Mansoori as saying: “RPX was envisioned to bring trust and quality assurance amongst buyers and sellers.
“Our digital platform provides companies and nations with a vital benchmark for their capacity to adapt and trade quality-assured plastics, equip them with frameworks to facilitate exchange, and highlight the tangible benefits of transparent plastic trading.
“Overall, the platform inherently complements governments’ commitments to the Basel Convention’s amendments on the trade of plastic and enhances the responsible participation in the recyclable plastic trade.”
Based in the Abu Dhabi Global Market (ADGM), RPX has the potential to enable the recycling of five million tonnes of plastics by 2025.
Zaywa reported that the platform is intended to help tackle challenges in plastic waste reduction by transferring plastics from regions with insufficient recycling facilities to those with insufficient feedstock.
Several major companies from various regions, including the Middle East, North America, Latin America, India, South-East Asia and Europe, have reportedly subscribed to the platform.
Rebound aims to allow buyers and sellers to ‘efficiently trade recycled plastic with trust and confidence’ by capturing the value of plastic feedstock.
IHC is currently the largest company listed on the Abu Dhabi Securities Exchange.