IHC Launches New Program to Facilitate Global Trade of Recycled Plastic

A new global quality-assured trading platform for plastic feedstock will work to enable buyers and sellers to efficiently trade recycled plastic with trust and confidence. Scheduled to open for trading in mid-2022, Rebound Plastic Exchange will introduce globally recognized standards, certification, insurance, and quality assurance into the supply chain.

Rebound Plastic Exchange was founded by IHC, a multi-sector conglomerate and the largest company listed in the Abu Dhabi Securities Exchange. IHC created a new subsidiary, Rebound Ltd, to support this new platform.

“We’ve developed a global trading solution that offers a large-scale opportunity to reduce some of the world’s plastic pollution via recycling,” said Maryam Al Mansoori, general manager of Rebound Ltd. “By capturing the value of plastic feedstock, we allow companies across all sectors, from apparel to automotive, to access recycled content with confidence, while creating new opportunities for communities in the value chain to grow their economies.”

Rebound Plastic Exchange will reportedly fill a significant gap in the market, facilitating a truly circular economy as it creates a quality-assured platform to purchase and provide feedstock of recycled plastic to meet the growing demand from consumer goods companies. There is expected to be a 6-million-ton deficit of recycled content based on the many commitments of global brands, many of whom are aiming for 20-30% increases by 2025.

Rebound Plastic Exchange creates new economic opportunities and a point of market entry for the estimated 80% of countries without domestic capacities to process or consume plastic feedstock, or both. Its passporting system will also support governments’ commitments to the Basel Convention’s Amendments while responsibly participating in the trade of plastic. By 2025, it is estimated that roughly five million tons of recycled plastic will have been traded via Rebound, the company stated.

DHL Global Forwarding is one of the launch partners to support the quality assurance process which Rebound Plastic Exchange has created as part of its verification protocol. Each product will be sent by DHL to undergo laboratory tests based on accepted international standards before being traded.

“Rebound Plastic Exchange is the needed intervention which will transform the world’s plastic recycling industry,” said Douglas Woodring, lead expert of Rebound Ltd. “For the first time, the trade of plastic feedstock will see the same levels of trust and transparency that exist in the market for other commodities, increasing business confidence and encouraging greater trading volume, which will mean a reduction in plastic going to landfills.”