55 Sustainability Report 2024 Fostering Action on Climate Change Fostering Responsible Supply Chain Fostering An Inclusive Workplace GRI Content Index In the future, we aim to implement a uniform waste management policy, backed by standard operating procedures across our SEZs to ensure best-in-class waste management practices from 2025 onwards. GSEZ’s Initiative for Plastic Credit: During Environmental Week in June 2024, GSEZ also hosted a public consultation to highlight the innovative plastic credit initiative. Modeled after carbon credits, this program encourages businesses to embrace sustainable practices by enabling them to offset their plastic footprint. By intercepting plastic waste before it reaches the natural environment and transforming it into tradable credits, GSEZ is both mitigating the ecological impacts as well as generating funding for projects dedicated to further reducing plastic pollution. with Jia Ming Plastics Manufacturing (JMPM) to increase plastic circularity, improve collection efforts, and import substitution. Towards this, we in GSEZ, with JMPM aim to accelerate plastic reuse and circularity. This project has been registered under the Verra Plastic Waste Reduction Standard to also explore and leverage plastic credits in future. The project is aiming to generate 1,421 carbon credits per year, the equivalent of removing 42 million PET bottles from the environment. Plastic credits can significantly enhance revenue of stakeholders involved in plastic waste management, attracting more entrepreneurs to the sector in collection, recycling, or both. This strategy diverts plastic waste from landfills, unauthorized dumpsites, and water bodies, while promoting a healthier ecosystem and more sustainable production practices. In the reporting period, as a result of our efforts, we developed the Plastic Waste Packaging project in partnership
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