New Delhi, June 05, 2023. PayU, a leading online payment service provider in India, and Prosus, a global consumer internet group and major technology investor, have announced a significant initiative on World Environment Day. The companies have unveiled the Scaling Sustainable Packaging Report, aimed at addressing the pressing need for sustainable packaging solutions in India's rapidly expanding e-commerce sector. The report sheds light on the country's waste management challenges resulting from population growth, urban expansion, waste management services availability, and evolving consumer buying habits, particularly in the food, grocery, and e-tail industries.
The Scaling Sustainable Packaging Report presents a comprehensive analysis of the issue and outlines 10 Golden Rules that e-commerce and delivery platforms can adopt to combat packaging waste and promote sustainable practices throughout the industry. These guidelines focus on reducing packaging, increasing recycling rates, fostering innovation in regenerative materials, and championing the adoption of reuse models. By implementing these rules, businesses can contribute to a greener and more sustainable future.
The 10 Golden Rules defined in the report are as follows:
1. Reduce packaging through design and logistics.
2. Remove problematic and unnecessary elements.
3. Reduce virgin material and increase recycled content.
4. Replace petrochemical-based plastics with low-impact and regenerative materials.
5. Adopt and scale reuse models.
6. Promote reuse models and sustainable options with partners and consumers.
7. Calculate your packaging footprint.
8. Raise awareness to improve recycling and composting.
9. Invest in building infrastructure that captures materials and prevents waste.
10. Create scale through collaboration.
PayU India has been actively dedicated to sustainability and driving positive change through responsible business practices. The company has already implemented various sustainability initiatives, including a shift to recycled paper products, resulting in significant reductions in energy, water waste, and solid waste. By transitioning to Green Garbage Bags, PayU has also made substantial savings in plastic waste and carbon emissions. Furthermore, the company has made efforts to reduce CO2 emissions by incorporating electric vehicles and glass bottles into its operations.
Prajna Khanna, Global Head of Sustainability at Prosus Group, praised PayU's leadership role in engaging with its merchant customer base through its payments gateway platform. She further emphasized, “By leveraging its relationship with its broad ecosystems of businesses serving millions of customers daily, the potential for driving real impact is immense. With consumption patterns changing radically from physical world retail to online buying and e-tail, delivery platforms have an important role to play in tackling waste from packaging. These ten rules support the scaling of sustainable packaging by delivery platforms."
"At PayU, we are working in alignment with RBI’s vision on climate and sustainable finance and have started to incorporate ESG principles in our business strategy for the move towards low carbon environment in India and the world at large,” said Mohit Gopal, COO at PayU India. “Sustainable packaging is not just an obligation but an opportunity to reimagine how we do business. We can inspire and empower our business partners to adopt sustainable packaging practices by harnessing technology and leveraging our extensive network. Together, we can create a ripple effect that resonates far beyond our industry, creating a legacy of sustainability for generations to come."
The Federation of Indian Chambers of Commerce & Industry (FICCI) recently released a report titled "A Progressive Shift from Transactions to Trust," revealing that the e-commerce industry in India is projected to reach $188 billion by 2025. Consequently, packaging waste is expected to increase by 30%. This highlights the critical importance of implementing sustainable packaging practices across the industry. PayU and Prosus are fully committed to promoting responsible consumption and reducing packaging waste. By collaborating with government and industry partners, they aim to drive the adoption of sustainable packaging practices, fostering a more sustainable and resilient India for future generations.
