WEEE help from t2e
10 March 2008
The Environment Exchange (t2e), founded by Angus Macpherson in 1998, is an aid for the producers and re-processors of waste packaging in achieving compliance levels set out by Government. Ten years later, t2e can lay claim to over 10% of the seven commodities traded each year for compliance reasons.
By 31 May 2008, 23 producer compliance schemes representing over 6,000 producers and importers of electrical and electronic equipment will have to provide evidence to the environment agencies that they have complied on behalf of these companies with the Waste Electronic and Electrical Equipment (WEEE) Regulations introduced in 2007.
Managing director of t2e, Macpherson, said: “Unfortunately the schemes will not be advised of their final legal obligations until 1 May 2008. With over 4,500 different permutations of how a solution might be found and the additional burden of new commercial arrangements to be established, there is potential for total chaos. We already provide anonymous, secure and efficient transaction, settlement and information services for those involved with the Packaging Regulations and we will be providing these services for the WEEE market,” he adds.
By extending its online trading facility to assist the compliance schemes in buying or selling surplus WEEE notes, t2e will be open to designated collection facilities (DCFs), approved authorised treatment facilities (AATFs) and exporters (AEs). All of these may find themselves having evidence, and not knowing who wants it or what the market will pay.
There is no initial joining or trading fee; but there is an annual participation fee of £1,000 + VAT to all those who join before 1 May. Within this participation fee, AATFs and AEs will receive an independent audit for one of their sites, if desired.
The new online marketplace will be open for trading on 9 April 2008. “Initially we will operate a spot market, although we do intend to introduce forward contracts to assist buyers and sellers in planning their annual WEEE compliance,” reveals Macpherson, adding: “In addition t2e will offer an over the counter settlement and delivery service.”
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