Newly Launched Scheme to Fund E-Scrap Recycling in Developing Countries

SEATTLE (Scrap Monster):  The newly launched program by Stockholm-headquartered non profit organization aims to fund e-scrap recycling in developing countries through institutional buyers of new electronics.

The program offers an opportunity for institutions purchasing new electronic items to take responsibility for the e-waste generated by them. As per the program named ‘E-Waste Compensated’, purchase of certified IT products will result in an equivalent amount of e-waste collected in countries that lack safe recycling systems. The e-waste thus collected is transported to responsible recycling centres for further processing. In addition to protecting the environment from hazardous substances, it will result in creation of local job opportunities.

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The manufacturers and e-scrap companies reach an agreement, whereby manufacturers buy offsets from e-scrap companies for agreed amount at the manufacturing phase itself. The money received as offsets will be used to collect equivalent amount of e-scrap in developing countries. The entire process will be verified by outside agencies.

The first company to become part of the E-waste Compensated is ‘Closing the Loop’, which collects discarded mobile devices in African countries and exports them to Europe for safe recycling.