Aldar Properties PJSC (‘Aldar’) has signed a Memorandum of Understanding (‘MoU’) with Rebound Ltd. (‘RPX’), the global B2B digital trading platform for recycled plastics,to increase the volume of plastic that is recycled within Aldardeveloped communities and managed destinations. The plastic collected will be sold on the quality assured Rebound Plastic Exchange marketplace and the proceeds will be used to reduce service charges.
Through this collaboration, Aldar and RPX, which was set up as a subsidiary of International Holding Company (‘IHC’) in December 2021, will work together to develop a scalable model for the collection of recyclable plastic waste from Aldar’s developed communities and managed destinations with the pilot programme initially focused on Saadiyat Island.
Jonathan Emery, Aldar Development’s Chief Executive Officer, said: “In line with our Net Zero commitment, we are ramping up initiatives that will help to reduce the negative environmental impact within our developed communities and managed destinations. Reducing and recycling waste is a key focus within our plan and this collaboration with Rebound allows us to not only broaden our positive impact but provide our customers with an added incentive to think more responsibly about waste.”
The two entities will convene a diverse group of stakeholders from the UAE, including relevant government authorities, to setup the necessary infrastructure, engage community members and generate a meaningful supply of recyclable plastic to be traded on the Rebound platform. Once successful, the intention is to roll out the programme to other Aldar owned and managed communities.
The partnership further highlights the economic value ofa versatile and useful commodity, that is otherwise being mismanaged and discarded as waste. Given the importance of embedding a reduce, reuse, recycle mindset, households and communities are key to reversing the damage being caused to our planet by waste.
Rebound Plastic Exchange has come to be known as the trusted marketplace whose astute certification protocol distinguishes it from the lot, inspiring more recycling endeavours across the board. Circular in essence and function, Rebound’s strategic pillar rests upon advancing sustainable solutions for the people and planet through industry-wide standardisation, certification, and quality assurance. Ultimately, this delivers positive economic impacts to the recycling industry, empowers the local community,and helps reduce the impact of plastic pollution throughout.
Maryam Al Mansoori, Rebound’s General Manager said:“The road to 2030 is fast-approaching with only seven years to go to meet global demands. The time has come to implement Net Zero solutions rather than spreading plain and wasteful problems. Precisely because of our determination towards circularity, we have noticed more and more businesses reaching out to us to adopt and trade quality assured plastics, equip them with frameworks to facilitate exchange, and highlight the tangible benefits of transparent plastic trading. We look forward to beginning this new impact focused journey with Aldar and the communities it serves in Abu Dhabi.”
Aldar recently committed to becoming a Net Zero carbon business by 2050 and its plan will span the whole lifecycle of its value chain. Within the plan, Aldar has committed to enhancing waste management during the design, build, and use phases of its real estate assets, prioritising diversion from landfill, increasing greywater recycling, and supporting the local waste sector.
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