Standard Chartered Bangladesh is partnering with the Bidyanondo Foundation to launch a plastic exchange programme to promote recycling and sustainability while supporting approximately 82,000individuals.
As part of this project, the Bank will collaborate with the Bidyanondo Foundation to establish 65 plastic exchange camps. Community members will be able to gatherand submit their plastic waste at these designated locations, andin exchange take away essential commodities they need such as rice, oil, and other necessities.
This pioneering approach not only incentivises recyclingbut also provides tangible benefits to individuals and families, enhancing their quality of life.Additionally, the plastic collected as part of this initiative will be recycled and used to produce rPET (recycled polyethylene terephthalate) bottles.
Muhit Rahman, Managing Director and Head of Financial Markets, Standard Chartered Bangladesh, said, “In 2020, it is reported that of the 977,000 tonnes of plastic consumed, only 31% was recycled. This means that nearly 70% of plastic waste is damaging our environment and harming members of our community."
Kishor Kumar Das, Chairman, Bidyanondo Foundation,said, “There is no way to avoid the pollution of urban life or the threat to marine biodiversity without taking action to recycle waste and plastic – and this action not possible if we are only depending on Government initiatives.”
