We’ve all heard “one man’s trash is another man’s treasure”, but what if you can turn your trash into your own treasure? I was recently introduced to a local startup that’s doing just that. It’s called RecycleBank. Their concept is simple. We’re not all motivated to protect our environment, but we’re pretty much all motivated by money. So, they’ve partnered with many major companies to provide coupons and incentives to you for recycling. They work with the local trash collector to have them pick up your recycling that has a sensor attached to it. The weigh the bin before it goes into the truck and the sensor tells them who to allocate that weight to. The more you recycle, the more points you get, and therefore, the more rewards you get. Each pound equals about 2.5 points. Companies like CVS, Bed Bath & Beyond, Coca Cola, Applebees and many many more have all signed on. It’s not available everywhere just yet. They obviously have to get companies working together in each community, but they’re expanding to new places all the time.
And it’s working! Their CEO said,
“We generally see about a 100 percent increase in recycling in mid- to affluent neighborhoods. In lower-income neighborhoods, it can be up to 1,000 percent, because the recycling rates are so low there.
If you think about solar or wind power or buying a hybrid, they’re very important, but today they’re not something that’s accessible to the average person. I look at recycling as the average thing that every person and household can do.”
I think it’s a great idea and I hope they succeed.
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