CANADA-BASED for-profit social enterprise Plastic Bank said it is looking to expand its operations in the Philippines.
“We have branches that operate in Palawan, and we’re also exploring setting up branches in Cebu and now we’re exploring operating also in Mindanao,” Plastic Bank Regional Vice-President Asia Pacific Rene Guarin said during a media roundtable on Wednesday.
Plastic Bank builds recycling systems wherein collection members can exchange plastic collected for perks such as health insurance, grocery vouchers and school supplies.
“Each plastic collection is recorded using its blockchain-supported platform, ensuring a verified plastic collection journey from collection branches to processors and providing incentives for communities,” Plastic Bank said.
The company has 206 active branches spread across Metro Manila, North Luzon, and South Luzon. It operates in the Philippines, Indonesia, Brazil, Egypt, Thailand, and Cameroon.
Plastic Bank offers an “impact subscription,” a monthly contribution that ensures the collection of a pre-set amount of plastic bottles by its collection communities.
“With our blockchain platform and the newly launched Impact Subscription model, we empower businesses to integrate sustainability and social impact seamlessly,” Plastic Bank Founder and Chief Executive Officer David Katz said.
“It’s time to redefine success and embark on a journey where business isn’t just about making money but making a meaningful difference,” he added.
According to Plastic Bank, subscribing to its impact subscription “positions brands among purpose-driven market leaders.”
It enables the participants to align their businesses “with ethical practices that significantly boost consumer loyalty and enhance brand equity.” — Sheldeen Joy Talavera
