Today's Edition
MOHAMMAD GHAZAL (ABU DHABI) - From the heart of Abu Dhabi, a groundbreaking venture is reshaping the global approach to plastic waste. Spearheaded by Maryam Al Mansoori, the company's founder and general manager, the Rebound Platform has emerged as a vital asset in the fight against the ever-growing menace of plastic pollution. Recognising the urgent need for action, Al Mansoori, then working with the UAE Cabinet of Ministers, embarked on a journey to devise a solution.
The answer lay in the creation of Rebound Platform, a marketplace that could revolutionise the way plastic waste is handled.
With over 430 million tonnes of plastic produced annually worldwide, much of which ends up in oceans, rivers, and lakes, Rebound's role is more critical than ever. The platform aligns perfectly with dire statistics reported by UNEP and the UN on plastic waste, offering a viable solution to the pressing issue of plastic pollution that threatens ecosystems and livelihoods across the globe.
Established in September 2020, the digital trading platform for recycled plastics is not just a business venture; it's a mission, a solution born from the heart of Abu Dhabi to address a global crisis.
Addressing a Global Crisis
"Environmental threats are escalating at the global landscape…one specific environmental threat is the rise in plastics pollution – although there is a large demand for the recovery of recycled plastics. And so the mission began…We came to realise that recycled plastics are the commodity of the future, and it must be treated as such," Al Mansoori said in an interview with Aletihad.
On average, the world is producing 430 million tonnes of plastic per year – two-thirds of which are only used for a short period of time. Every day, the equivalent of over 2,000 garbage trucks full of plastic are dumped into our oceans, rivers, and lakes.
As a result, plastic pollution is set to triple by 2060 if no action is taken, according to the UN. Plastics are the largest, most harmful and most persistent fraction of marine litter, accounting for at least 85% of total marine waste. Plastic packaging is the reason for the majority (36%) of plastic production, and 46% of plastic waste is landfilled, 22% becomes litter, 17% is incinerated and 15% is collected for recycling, with less than 9% actually recycled after losses, the UN figures showed.
Plastics are a useful and versatile material, which come with multiple environmental and economical benefits when compared to other packaging methods. Due to its composition, you can recycle it mechanically multiple times and then divert it for advanced recycling technologies to ensure it does not end up in a landfill or waterbody.
With that being said, pricing the recyclable plastics at a global scale with a common quality specification language does not exist. Thus, the local incapacity of capturing and treating such material; and corporate annual 6.3 million tonne minimum supply deficit currently unresolved.
Where the recycled plastic trade is opaque, time-consuming, and competitive, Rebound offers clarity, trust, and transparency. "The Rebound Platform plays an important role in terms of matching global demand and supply, by bringing companies together on a digital and authenticated marketplace where trust and transparency contribute to material circulation," she said. If policies like minimum recycled content mandates are enforced, producers can use Rebound as an extension of their own procurement team, Al Mansoori noted.
"The more plastics are valued at a B2B level, the larger the impact on the value chain in a reversed manner reaching the consumer and manufacturer. Once a material is valued and retrieved, it is kept out of Earth's body," she added.
Aligning with National Strategies
"The UAE's leadership always encompassed environmental values, starting from our Founding Father. Also, we have seen the country push for digitalisation of trade and global solutions – mainly during 2020. Needless to say, the leadership's mentality shaped up Rebound's business model. We want to solve a global problem, and the only way to do it is by creating a digital platform that the whole world can access in a unified manner. We remain inspired by everything Their Highnesses do, and we built our company culture around it too," she said.
With its headquarters in Abu Dhabi, "we are dedicated to present Rebound as a solution to the world, which governments and corporates appreciate," Al Mansoori added. The UAE is at the forefront of promoting sustainability, especially given that the country is set to host COP28 this year, and is additionally working on a sweeping digitalisation process, she said. Rebound's innovative platform unites the nationally important concepts sustainability and digitalisation, Al Mansoori pointed out.
A Visionary Platform
Rebound aspires to become the global hub of all things recycled plastics, according to its founder. "We have two services, Rebound Platform – which is a global B2B marketplace enabling the trades of recycled plastics in a quality assured and regulatory compliant manner, and Rebound Solutions - our driving force in redirecting plastics away from landfills and the environment.
Through strategic initiatives, we generate supply, stimulate demand, and elevate brand recognition, ensuring that plastics find a new life within the circular economy," Al Mansoori said. "The platform entails multiple steps to complete a trade, which fall under our certification protocol. Rebound vets every member and conducts an assessment of all facilities registered to supply on the marketplace.
Our quality team also conducts a thorough check on each material uploaded to the marketplace before going live. Having such processes in place not only ensure reliability but also legitimacy, which is key in a vague market," she added.
Rebound's mission is to keep plastic out of the environment and in the economy, which it does by facilitating plastic feedstock transactions and empowering entities to valorise their plastic waste. Policies such as the Circular Economy Policy support business models that encourage recycling, something Rebound does as well by increasing recycled plastic feedstock availability.
Rebound does this through its two arms. The Rebound Platform facilitates the domestic and international trade of recycled plastic feedstock by providing a B2B digital marketplace where buyers and suppliers can procure and list quality-assured materials.
Rebound Solutions provides partnership and advisory services to encourage the collection and treatment of feedstock, according to Al Mansoori. Growth and Collaboration Rebound Solutions' business model allows it to essentially collaborate with any player in and outside the industry, including schools, banks, waste management companies, and others. Rebound has signed MoUs with large, reputable players, including e& and Aldar.
Rebound's role in such agreements is typically to manage projects related to scaling up plastic waste collection. From a platform perspective, Rebound's members include major packaging producers and brands. Although Rebound is already a global company, it aims to expand its business development scope to include further regions, including Latin America and Sub-Saharan Africa.
On challenges in the global market for recycled plastics, Al Mansoori noted that current issues include policy and technical limitations that can prevent the movement of plastic feedstock. As a one-stop-shop, the Rebound Platform addresses these issues by allowing buyers to procure directly via listings without needing to enter into a long-term contract.
Rebound's team also possesses the subject matter expertise to allow it to navigate the complicated regulatory and technical landscape, she said. Empowering Sustainable Trade Rebound supports the circular economy by being the puzzle piece connecting global sellers to global buyers.
Its network of connections allows companies to find the exact specifications of feedstock from another country that their procurement team may not necessarily be able to source themselves.
"Rebound helps corporations in two ways. Firstly, it directly impacts procurement teams by directing them to relevant listings or sellers to fulfil their feedstock requirements. Secondly, through its solutions arm, Rebound can collaborate with companies on end-to-end projects that make plastic waste a traceable, valuable resource," she added.
Although Rebound is a young company, it's growing its networks of members and linking members across the globe. Currently, Rebound is innovating via Rebound 2.0, an advanced version of the platform currently under development that includes exciting new features.
Rebound also has additional interesting partnerships in the pipeline, she said. "The future of plastic recycling and trade is that it is going to get more globalised. The industry is also going to grow with support from policymakers who are encouraging recycling and using recycled plastics. Increasing awareness ultimately increases feedstock availability, which will make it easier for producers to meet their sustainability goals," Al Mansoori added.
Multi-faceted Impact Rebound offers a way for smaller recyclers who may not have a global network to broaden their scope of buyers and bring in stronger currencies. The business also helps the industry scale up, creating jobs. Its social impact also includes increased community awareness via helping corporations and governments with CSR activities, Al Mansoori said. "The environment and humans are inextricably linked, so increasing positive environmental impacts can help livelihoods," she added.
