PCX Markets sees sharp rise in demand and impact from recycling, upcycling projects

IMPACT through upcycling and recycling credits on PCX Markets, which helps fund plastic waste recovery, skyrocketed by 1,500 percent in 2023 as large corporations looked for new ways to meet sustainability goals and compliance requirements. The sale of those credits helped fund the upcycling or recycling of 9,000,000 kg plastic waste last year alone.

The jump in demand for credits issued by recycling and upcycling projects, which channel much-needed funding into the waste management sector, illustrates how the Philippines' new Extended Producer Responsibility Act is fueling the effective and economically viable development of a circular economy.