RACE Eco Chain: Leading the Way in Organizing India's Plastic Packaging Waste Supply Chain

New Delhi (India), May 29: India's plastic packaging waste supply chain is 70% unorganized, resulting in hazardous conditions such as unsafe working environments for laborers, ragpickers, child labor, and material hoarding. With 26,000 tonnes of plastic waste generated daily, government norms like EPR for PIBOs (Producers, Importers, and Brand Owners) are pushing for the reuse of recycled materials in packaging. This is creating a strong demand for a well-organized plastic packaging waste supply chain.

Major corporations, FMCGs, and MNCs are stepping in to strengthen and organize the supply chain to ensure traceability and ESG compliance. These companies are urging recyclers to source waste from organized supply chains, demanding ESG compliance from both tier 1 and tier 2 suppliers.

This increasing demand for an organized supply chain is where RACE Eco Chain emerges as a key player, providing the necessary infrastructure and investment to streamline the plastic packaging waste supply chain.

RACE Eco Chain Limited, with over a decade of experience in waste management, offers a gateway for investment to organize the supply chain through the following initiatives:

Pan India Supplier Network: RACE Eco Chain has established a nationwide supplier network for waste management, becoming the fastest-growing waste supply chain in India.

Dedicated Recycling Collection Centres: By collaborating and upgrading existing collection centres and establishing new ones as needed, RACE meets the growing demand for waste supply.

ESG Focus: RACE supports its suppliers in ESG training and audits, building safe working conditions and gender equality across the value chain. RACE has achieved an ESG Score of 58 in its last audit and conducted voluntary BRSR reporting. RACE's mission is to create a completely ESG-compliant supply chain.

Future Ready: RACE has developed an app for waste buy and sell, promoting transparency and fair-trade practices. The app ensures traceability, playing a vital role in meeting the demand for an organized plastic waste supply chain.

Promote Circular Economy: By deploying circular economy principles among its supply chain, RACE recycles over 100,000 metric tons of plastic waste annually.

Community Engagement: RACE organizes community awareness and supplier recognition events like UDAAN to celebrate the talent of waste suppliers as well as does CSR initiatives like ASSET providing free education and skill development opportunities to the most marginalized members of the value chain, including labourers and ragpickers.

With the growing need to organize the scrap supply chain, leading recyclers seeking ESG-compliant organized supply chain players are now collaborating with RACE Eco Chain Ltd.

"In the face of escalating packaging waste in India, projected to surge by 30% by 2030, urgent action is imperative. Government initiatives such as Extended Producer Responsibility (EPR) in the Plastic Waste Management (PWM) Rules, alongside advancements in recycling technologies, signal a promising surge in demand for recycled materials. Race Eco Chain emerges as the gateway to investment for an organized supply chain dedicated to meeting this growing demand," said Sunil Malik, Managing Director of Race Eco Chain Ltd.

RACE targets capturing 25% market share in the PET waste collection sector by 2030 in India. This objective reflects the company's dedication to expanding sustainable practices and advancing the circular economy model. Through intensified collection endeavors and innovative recycling technologies, RACE aims to make a substantial impact on waste management and environmental conservation.

For more inquiries, kindly visit the website: https://raceecochain.com/

About Race Eco Chain Limited: Race Eco Chain Limited is one of India's premier plastic waste management companies, dedicated to fostering a circular economy and mitigating environmental impact by organizing the unorganized waste supply chain.