EcoEx – The First Indian Marketplace For Exchange of Plastic Credit Certificates under PWM-2016 Rules

EcoEx is the first-ever Digital Marketplace in the field of Plastic waste management ecosystem which helps brand owners meets a vast pool of Recyclers/Coprocessors to fulfil their EPR obligation. The start-up enables the exchange of credit certificates to strengthen the plastic recycling infrastructure. The platform aims to bring recyclers, collectors, producers, and brands together to facilitate a clear exchange of plastic credit certificates.

EcoEx is the brainchild of Nimit Aggarwal, founded in September 2020 to connect recyclers and collectors from various parts of unorganized sectors who are willing to recycle plastic responsibly. One of the major causes of ineffective management of waste in India is the unorganized structure of the stakeholders of the waste management industry. Through the exchange of plastic credit certificates, EcoEx aims to bring the stakeholders of the waste management industry together.

Since September 2020, EcoEx has facilitated the exchange of more than 7500 MTs of plastic waste.

As per various studies, waste generation in India is growing at a massive rate of 16% CAGR. The plastic waste management sector is one of the most rapidly booming markets in the world. It is forecasted that the plastic waste market would be worth INR 21000 crores in the next 3 years and EcoEx aims at capturing a decent percentage of the same.

Is EcoEx about to bring a change in the plastic waste management industry.

A plastic credit model is envisaged where a producer is not required to recycle their own packaging, but to ensure that an equivalent amount of packaging waste has been recovered and recycled to meet their obligation. However, producers are mandated to acquire evidence of recycling or recovery [PLASTIC CREDIT] from properly accredited processors [recyclers, W2E plant operators, cement co-processors, users utilizing plastic in the road] or exporters.

By introducing a digital ecosystem that makes the process of buying or selling these plastic credit certificates quick, secure & equitable, EcoEx, in hindsight, is enabling the efficient nation-wide implementation of the extended producer responsibility.

“Born out of an idea to foster a digital evolution for a cleaner tomorrow and aligned to the Swachh Bharat Mission, EcoEx aims to create a sustainable digital ecosystem for the stakeholders of the plastic waste management value chain to undertake secure and mutually beneficial plastic credit certificate transactions from anywhere, anytime. The added advantage of recycling plastic is that it emits lesser CO2 as compared to producing virgin plastic. EcoEx being pro-recycling ensures that maximum plastic is collected from the environment. EcoEx by way of incentivising recycling ensures maximum plastic waste is collected and recycled. This in turn helps save marine life by ensuring lesser plastic being dumped into oceans,” said NimitAgarwal, Founder, EcoEx, launching the EcoEx platform.

About the Founder- Nimit Aggarwal:

Nimit is a result-driven business leader and a fervent supporter of a circular economy, Nimit comes with more than 10 years of experience in leading organizations working towards sustainable solutions, plastic waste management, and PET plastic waste. He is an eco-minded entrepreneur supporting UNDP Sustainable Development Goals and has also consulted numerous foreign recycling organizations with their planning and business strategy. He is an alumnus of the prestigious Indian School of Business. In September 2020, Nimit founded EcoEx, a first-of-its-kind digital platform for stakeholders of the plastic waste management value chain to undertake secured & mutually beneficial plastic credit certificate transactions.

Nimit received his Bachelor’s Degree from the University of Delhi in Business Administration and Management, 2010-2013. He completed his Master of Business Administration from the Indian School of Business in the year 2017-2018.

Nimit is an avid reader and prefers to travel while on a break.

Nimit Aggarwal is the Managing Director who is guiding the whole team and also ensures accurate assistance when it comes to:-

1.Brand owners to fulfil their EPR targets as per guidelines issued by concerned authority time to time

2.Organising the unorganized Recycler/co-processor community, and through ecoex digital marketplace , while empowering the community also helps in incentivising them.

Let’s have a look at the Market watch- https://www.ecoex.market/market-watch/

Market Watch

EcoEx aims to streamline the unorganised recycling sector by educating recyclers about the benefits that can be availed by selling plastic credit certifications through a formal channel. It also ensures that producers meet their compliance (EPR) target, and the entire process of plastic collection and recycling is handled in a transparent manner. The EcoEx technology platform is supported by NCDEX e-markets Limited, the leading National Spot Exchange in India. It works with domain experts and offers trading platforms for trading in a host of commodities. These trading platforms combine technological efficiency and market-friendly trading features in a transparent atmosphere to make trading a rich and rewarding experience.