A platform that shows where Packaging Recovery Notes (PRN) will be invested has been launched by resource efficiency specialists ecosurety.
The online platform, called Circularety, will enable obligated producers and reprocessors to invest in tangible recycling projects and schemes and to communicate about them.
It will also enable producers to present detailed PRN expenditure to the board, and publicise CSR and environmental credentials in relation to significant sums of PRN.
While ecosurety suggest that reprocessors will be able to use Circularety to showcase concrete projects that producers can invest in using their PRN obligation money and help to attract investment.
ecosurety managing director James Piper said: “The PRN system is a good one in itself, because it has helped the UK to significantly increase its recycling rates over the years. However, producers and industry bodies have expressed concern about the system which does not encourage transparency, particularly in relation to what happens to PRN money once obligations have been purchased.
“Circularety means for the first time producers will be able to choose exactly where their PRN money is spent, and reprocessors will be able to put forward concrete investment projects that will benefit the recycling industry.
“We anticipate Circularety will remove price volatility from the PRN system caused by uncertainty over PRN supply and demand.”