In the coastal regions of developing countries alone, 2 billion people do not have access to proper waste management, so the Berlin company CleanHub estimates. Their business model offers incentives in the form of “plastic credits” to eco-conscious worldwide brands, betting on growing consumer demand for sustainable products and practices. By getting businesses to pay for plastic collection and recycling, primarily in poorer regions in Asia, CleanHub wants to reduce the harmful effects of plastic waste, while recognising that there is a growing market for recycled plastic especially in such regions. CleanHub adheres to the ISO 14064-3 standard by TÜV SÜD and attempts to ensure accountability, or anti-greenwashing, with manual checks and an AI supported track and trace system that monitors each bag of waste. The company has just received a funding round of $7M, which will allow it to expand its operations and move towards the transition to a circular economy. “By steering the waste management sector towards a circular economy, we’re creating a better world while delivering value for our stakeholders,” says new co-CEO Louis Pfitzner.
