Abu Dhabi launches rebound deal to reduce plastic pollution

The launch of the company follows a concerted effort across the UAE to combat plastic consumption and pollution. Earlier this year, Abu Dhabi banned single-use plastic bags in the emirate, while Dubai imposed a 25-fill duty on single-use plastic bags. Meanwhile, Ajman will ban single-use plastic bags from 2023 and Sharjah from 2024.

“Today, plastic pollution is a clear environmental threat, and we aim to be part of the solution to the problem. Plastic itself is a versatile and useful material, and the problem arises [when we cannot manage] Its waste, causing leaks and contamination. By 2050, there will be more plastic in the ocean than fish, which is telling,” said Al Mansoori.

“[With that being said,] Today, plastic is used in a variety of innovative ways, with companies in Germany and Norway making furniture from recycled plastic. Due to the fragmentation of the market to date, there is no global circulation in the market, and sellers often do not know where to buy high-quality recycled plastic. This is the gap we want to bridge,” said Al Mansoori.

With the world plastics market expected to reach $46.6 billion ($171.1 billion) by 2025, Rebound is expected to be a trusted global link between buyers and sellers of recycled plastics.

After its official launch last month, the entity has hosted traders from six different regions, including some from the UAE. Sellers have been using recycled plastic to make T-shirts, as well as food-grade plastic products like bottles. Some are also partnering with bigger brands for packaging needs, Al Mansoori said.

The company is a subsidiary of leading Abu Dhabi Holding Company International Holdings and is backed by Abu Dhabi Global Market.

Al Mansoori, who has a background in the Emirati civil service, said the idea for the platform stemmed from concerns over the accumulation of plastic and analysis showing a gap between producers and buyers of recycled plastic. The fact that Rebound also carries a quality guarantee on the products it lists also helps build buyer trust.

“We need to close the carbon cycle again by seeking the circularity of goods and even services that depend on fossil fuels or their substitutes. Plastics and the pollution they cause must be addressed from a life cycle perspective, while also taking on the responsibility of repairing damaged ecosystems and species. Rebound’s digital solutions are an example of how the implementation of a global circular economy and international development can be effectively accelerated through sustainable trade,” said Dr. Rodolfo Lacy, Director of Climate Action and Environment for Latin America and OECD Special Envoy to the United Nations Say.

At the official launch, Al Mansoori also showed the trading interface, including the kinds of information that traders include.

“After sorting and cleaning, the plastic can be shredded into flakes, or melted to form particles that can be made into new products. The polymer analysts and chemists working with Rebound help ensure the quality of these materials,” she said. With nearly 400 million tons of plastic produced worldwide each year, experts at the Rebound launch highlighted the urgent need to ensure reuse.