Voluntary Recyling Credits
The global initiative to standardize the waste management industry
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About VRC
The Voluntary Recycling Credits (VRC) Initiative defines a set of rules and processes to offset recycling activities globally. It is based on technological support and a public-private coalition of stakeholders providing a concrete and standardized solution to fight climate change and solve the global garbage crisis.
The initiative facilitates the global transition to Extended Producer Responsibility (EPR) schemes and provides space to take additional voluntary responsibility for companies waste footprint.
The Initiative is a response to the global need for uniformity and transparency in the voluntary credit market. As of today, there are multiple credit initiatives operating in many parts of the world with different regulations and scopes. Multiple tokens are traded every day without a global initiative providing clarity and structure to avoid misleading claims and illegal activities.
Our Collaborative Efforts
In alignment with
the rationale behind the United Nations Sustainable Development Group (UNSDG) and exploiting the global momentum for plastic and carbon related initiatives, Roland Berger, International Solid Waste Association (ISWA) and BEEAH Group took concrete action signing a Memorandum of Understanding to join forces on this ambitious mission, with the endorsement of the Ministry of Climate Change and Environment of UAE (MOCCAE) and the COP28 Presidency.
In order to
guarantee the robustness for the underlying tech infrastructure of the initiative, the DFINITY Foundation joined as as the official tech partner for the design and development of the Proof of Concept, building the VRC application running on the Internet Computer (ICP). Leveraging ICP’s decentralization and tamper-proofness, the creation, sale and offsetting of credits is stored in an immutable ledger of recycling credits and transactions, ensuring full transparency.
All partners
Roland Berger is the only management consultancy of European heritage with a strong international footprint. As an independent firm, solely owned by our Partners, we operate 51 offices in all major markets. Our 3000 employees offer a unique combination of an analytical approach and an empathic attitude. Driven by our values of entrepreneurship, excellence, and empathy, we at Roland Berger are convinced that the world needs a new sustainable paradigm that takes the entire value cycle into account. Working in cross-competence teams across all relevant industries and business functions, we provide the best expertise to meet the profound challenges of today and tomorrow.
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BEEAH Group is the region’s leading sustainability and digitalisation expert, renowned for ground-breaking environmental innovations and smart solutions for future-ready cities. Recognising sustainability and technology as the pillars of a modern economy, BEEAH Group has invested in a comprehensive, full-circle strategy for the future. BEEAH Group operates in the industries of waste management, renewable energy, technology, consulting, education, transport, real estate and healthcare. Raising the bar for the quality of life in the region, BEEAH Group businesses continue to set industry benchmarks in sustainable, smart solutions and help countries across the region create and execute their roadmap for a socially responsible future. The Group currently operates in the UAE, Egypt and KSA.
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The DFINITY Foundation is a Swiss not-for-profit organization founded in 2016. It is made up of the world’s leading cryptographers, computer scientists, and experts in distributed computing. With a mission to shift cloud computing into a fully decentralized state, the Foundation leveraged its experience to create the Internet Computer and currently operates as a major contributor to the network.
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The International Solid Waste Association is the world’s leading international network of waste professionals and experts whose collective mission is to promote and develop sustainable and professional waste and resource management worldwide and the transition to a circular economy. ISWA envisions a reality where all people on earth have the right to enjoy an environment with clean air, water, seas, and soils. ISWA unites and enables experts and stakeholders to achieve this, together.
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The Internet Computer
The Internet Computer Protocol (ICP) is a decentralized cloud 3.0 protocol that allows developers to build and run services and enterprise systems directly on a public blockchain network with unprecedented scalability. Services running on top of ICP are tamperproof and can natively interact with the outside world in a trustless manner, both with traditional web 2.0 services and with other blockchains. The fast, low-cost, and energy-efficient protocol establishes a new paradigm for how a decentralized network truly operates in web3 - the latest iteration of the World Wide Web, facilitating autonomous applications, data ownership, and self-sovereign identity management.
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