PayU and Prosus Drive Sustainable Packaging in India
Prosus N V
PayU and Prosus have taken a significant step to address the pressing need for sustainable packaging solutions in India's rapidly growing e-commerce sector.
The two companies, PayU, a leading online payment service provider in India, and Prosus, a global consumer internet group and major technology investor, have released the Scaling Sustainable Packaging report.
This comprehensive report examines significant waste management challenges faced by India due to population growth, urban expansion, waste management services availability, and changing consumer buying habits across various sectors.
The Scaling Sustainable Packaging report also presents 10 Golden Rules that e-commerce and delivery platforms can implement to tackle the issue of packaging waste and promote the scalability of sustainable practices in India's business landscape.
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The 10 Golden Rules defined in the Scaling Sustainable Packaging report include reducing packaging through design and logistics, removing unnecessary elements, increasing recycled content, replacing petrochemical-based plastics with low-impact and regenerative materials, promoting reuse models, calculating packaging footprints, raising awareness for recycling and composting, investing in infrastructure to capture materials and prevent waste, and fostering collaboration to drive scalability.
PayU India has demonstrated its commitment to sustainability by adopting responsible business practices. Through initiatives like shifting to recycled paper products, using green garbage bags, and transitioning to electric vehicles and glass bottles, the company has achieved significant reductions in energy consumption, water waste, solid waste, plastic waste, and carbon emissions. PayU recognises the importance of engaging its broad ecosystem of businesses to drive a real impact on sustainable packaging practices.
Prajna Khanna, Global Head of Sustainability at Prosus Group, acknowledges PayU's leadership role and emphasises the potential for delivery platforms to address packaging waste. The collaboration between PayU and its extensive network of merchants presents an opportunity to inspire and empower business partners to adopt sustainable packaging practices, ultimately creating a lasting legacy of sustainability.
The e-commerce industry in India is projected to reach $188 billion by 2025, as reported by the Federation of Indian Chambers of Commerce & Industry (FICCI). Consequently, the volume of packaging waste is expected to increase by 30%. In light of this, the efforts of PayU and Prosus to promote sustainable packaging practices are crucial. By collaborating with government and industry partners, they aim to drive the adoption of sustainable packaging practices, promote responsible consumption, and contribute to a more sustainable and resilient India.
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