Singapore Launches National Plastic Passport Program to Boost Circular Economy

Singapore is introducing a national plastic passport program, leveraging molecular marking and blockchain technology from Security Matters PLC (SMX). This initiative, in collaboration with the National Environment Agency (NEA) and A*STAR, aims to significantly increase plastic recycling rates and advance the nation's circular economy goals.

The program addresses Singapore's substantial plastic waste challenge, where approximately 94% of the 957,000 tonnes of plastic generated annually is incinerated, with only about 6% recycled. The SMX technology embeds invisible, tamper-proof molecular markers into plastics, creating a digital passport for each item. This passport traces the plastic's origin, journey, and recyclability throughout its lifecycle, crucial for verifying recycled content and ensuring the integrity of the circular economy.

A key component of the initiative is the Plastic Cycle Token (PCT), a tradeable digital asset designed to incentivize participation in recycling. Each kilogram of SMX-verified recycled plastic will be linked to a PCT, offering economic benefits to recyclers and participants. Projections suggest that redirecting just one-third of Singapore's plastic waste could lead to annual savings of S$27 million in incineration fees and generate an additional S$75 million from the sale of certified post-consumer resin, totaling over S$100 million in annual compliance dividends.

This program positions Singapore as a leader in sustainable plastic management, with its success anticipated to serve as a model for the broader ASEAN region, which represents a significant S$4.2 billion annual market opportunity within its plastics ecosystem. By establishing a verifiable and traceable system, Singapore aims to address fragmented recycling infrastructure and reporting challenges prevalent across Southeast Asia.

The initiative aligns with the global trend towards Digital Product Passports (DPPs) and is set for a phased rollout, with a full-scale commercial showcase planned for the second quarter of 2027. The program's commencement is slated for the first quarter of 2026. By transforming plastic waste into a verified financial asset, Singapore is tackling environmental issues while fostering new economic opportunities.