Plastic recycling facilities

Plastic recycling facilities

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Plastic recycling facilities
SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Infrastructure
Business Model Description

Build and operate recycling and recovery facilities for plastic disposables.

Expected Impact

Mitigate against the negative environmental effects of waste and recover energy sources.

Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
15% - 20% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Long Term (10+ years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
Nigeria produces 2.5 million tons of plastic waste each year.
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
> USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Good health and well-being (SDG 3) Responsible Consumption and Production (SDG 12) Life Below Water (SDG 14)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Clean water and sanitation (SDG 6) Industry, Innovation and Infrastructure (SDG 9) Sustainable Cities and Communities (SDG 11)
PLANET 3R product and worker
Photo by PLANET 3R
Case Study: PLANET 3R converts textile and plastic waste to eco-friendly products
PLANET 3R, a finalist of the EU-UNDP Nigeria Growth Stage Impact Ventures (GSIV), converts textile and plastic waste to eco-friendly products. The company was established in 2020 and supports the circular economy in Ibadan and across Nigeria.
RESWAYE participants
Photo by RESWAYE
Case Study: RESWAYE empowers women and youth in coastal communities through recycling services and practices
The Recycling Scheme for Women and Youth Empowerment (RESWAYE), a finalist of the EU-UNDP Nigeria Growth Stage Impact Ventures (GSIV), is a social enterprise focused on empowering women and youth in coastal communities in Lagos through a system that rewards recycling services and practices. Introduced in 2019, the initiative aims to retrieve post-consumer waste from its point of generation into the recycling value chain, preventing ecosystem imbalance and encouraging a cleaner and more sustainable environment with inclusive economic growth while making them financially independent and promoting a circular economy through proper waste management program.
Sector Sources
  • 1) National Planning Commission (2015). National Integrated Infrastructure Master Plan. 2) Federal Republic of Nigeria (2017). Economic Recovery and Growth Plan 2017 - 2020. Abuja: Ministry of Budget and National Planning. 3) Benson, A. Recycling: How These Small Businesses Make Millions Selling Aluminium Monthly. 4) SDG Center for Africa and Sustainable Development Solutions Network (2019). 2019 Africa: SDG Index and Dashboards Report.
IOA Sources
  • 5) United Nations. UN Comtrade Database. 6) Ibokun, Y. (2019). 'Nigeria Enlists Big Beverage Companies to Fight Plastic Waste,' Bloomberg Businessweek, November 13. https://www.bloomberg.com/news/articles/2019-11-13/nigeria-enlists-big-beverage-companies-to-fight-plastic-waste. 7) Benson, A. Recycling: How These Small Businesses Make Millions Selling Aluminium Monthly. 8) WRAP (2009). A financial assessment of recycling mixed plastics in the UK, https://archive.wrap.org.uk/sites/files/wrap/WRAP%20A%20financial%20assessment%20of%20recycling%20mixed%20plastics%20in%20the%20UK.pdf 9) Duru, R., Ikpeama, E.E. and Amaka, J.A. (2019). Challenges and prospects of plastic waste management in Nigeria,' Waste Disposal and Sustainable Energy 1: 117-126. https://www.researchgate.net/publication/334810551_Challenges_and_prospects_of_plastic_waste_management_in_Nigeria 10) Kazoora,J. (2019). Exploring the future of plastic recycling industries in Uganda. http://dissertations.mak.ac.ug/handle/20.500.12281/7252 11) CCPA. FREQUENTLY ASKED QUESTIONS - PLASTICS. https://www.ccpa.net/DocumentCenter/View/5384/Plastic_FAQs? 12) Ellen MacArthur Foundation (2016). The New Plastics Economy: Rethinking the Future of Plastics. https://www.ellenmacarthurfoundation.org/publications/the-new-plastics-economy-rethinking-the-future-of-plastics. 13) Dumbili, E. and Henderson, L. (2020). 'The Challenge of Plastic Pollution in Nigeria,' Plastic Waste and Recycling, 569–83. https://www.researchgate.net/publication/338805077_The_Challenge_of_Plastic_Pollution_in_Nigeria 14) Bakare, W. (2020). 'Solid Waste Management in Nigeria,' BioEnergy Consult. https://www.bioenergyconsult.com/solid-waste-nigeria/. 15) Baltimore Urban Debate League (2012). Recycling. http://budl.org/wp-content/uploads/2012/07/Recycling-Supporting-Docs.pdf 16) Basel Convention. http://www.basel.int/TheConvention/Overview/TextoftheConvention/tabid/1275/Default.aspx 17) United Nations (1987). Montreal Protocol on Substances that Deplete the Ozone Layer (with annex). Concluded at Montreal on 16 September 1987. https://treaties.un.org/doc/publication/unts/volume%201522/volume-1522-i-26369-english.pdf 18) United Nations Industrial Development Organization (2019). Current status of waste management and plastic management in Nigeria, Policy and Industry Aspects. http://www.unido.or.jp/files/191007_UNIDO-Seminar_Nigeria.pdf 19) National Policy on the Environment. http://extwprlegs1.fao.org/docs/pdf/nig176320.pdf 20) National Environmental (Sanitation and Wastes Control) Regulations. https://www.nesrea.gov.ng/publications-downloads/laws-regulations/ 21) Household Waste Disposal Laws in the Federal Republic of Nigeria. https://scholarworks.gsu.edu/cgi/viewcontent.cgi?article=1040&context=iph_capstone 22) All Africa (2020). Nigeria: Timely National Policy On Solid Waste Management. https://allafrica.com/stories/202007200029.html 23) World Bank (2020). 2019 Investment Policy and Regulatory Review: Nigeria. https://openknowledge.worldbank.org/handle/10986/33596 24) WOIMA Corporation (2021). Drowning in waste – Case Lagos, Nigeria. https://woimacorporation.com/drowning-in-waste-case-lagos-nigeria/ 25) Wecyclers (2021). Recycle with Wecyclers. http://www.wecyclers.com/ 26) OECD (2019). Gender Equality and Sustainable Infrastructure. https://www.oecd.org/gov/gender-mainstreaming/gender-equality-and-sustainable-infrastructure-7-march-2019.pdf 27) Federal Republic of Nigeria (2017). Implementation of the SDGs: a national voluntary review. https://sustainabledevelopment.un.org/content/documents/16029Nigeria.pdf