Resource efficiency specialist ecosurety is to launch a new system designed to ensure there is more transparency in the PRN market.
The Circularety project will enable producers to more clearly see where their PRN obligation goes. It will also allow reprocessors to create tangible outcomes for PRN investments.
Since 2007 when the PRN system was launched, over £565 million has been spent on PRNs with over half of this spent on export PERNs. During 2015, PRN prices across all materials fluctuated by 653%.
ecosurety managing director James Piper (pictured) said: “The PRN system has had a significant impact on recycling rates in the UK, but for some time it’s been widely acknowledged that it is imperfect. Many producers simply want to get on with the day job, rather than worrying about when is the best time in the year to purchase PRNs. Reprocessors want to be able to plan their investments more strategically and get value from their evidence. This year ecosurety has decided to take decisive action to improve the PRN system for all.
“We believe Circularety will empower producers and reprocessors to take full control of their significant investments in recycling. We would ask producers and reprocessors to join us to help create a giant step towards a circular waste economy.”