How does recyclebank work

As part of the investment, Waste Management said it expects to provide access to Recyclebank's green rewards program to its nearly 20 million customers in North America.

Recyclebank has bigger ambitions than turning trash to cash. It's seeking to become an Internet marketing platform that will reward people for engaging in more environmentally friendly behavior. Its members will be able to earn rewards points by using energy more efficiently at home, reducing water usage, by buying greener products, even by walking to work instead of driving.

This makes Recyclebank a very interesting company to watch, because it is betting big on the green consumer -- a risky but promising strategy. He described Recyclebank not as a recyling company but as "the largest consumer-facing engagement platform for all things sustainability.

He also put in a couple of years at J. Morgan after earning degrees from Harvard and Wharton. Formed in , Recyclebank has two distinct revenue streams.

First, it makes money by forming partnerships with cities, counties and towns -- about in total -- that are designed to drive up recycling rates.

Homeowners receive credits based on the amount of recycling they do; their recycling bin has a chip attached that measures its weight. For instance, you can win points by taking eco-challenges or by pledging to make more sustainable choices. Once you have enough points you can redeem them into discount offers, donations, or even savings. Recyclebank is partnered with several local fitness centers, spas, museums, supermarkets, and other entertainment attractions.

All these places allow you to cash your points. Still unsure? Watch this animated video on how Recyclebank makes recycling more lucrative:. Employees can participate in volunteering activities conducted by several nonprofit organizations.

The startup has supported hundreds of diverse communities to improve waste diversion rates. Taking it up a notch, Recyclebank also started the Green Schools Program. Top proposals are posted on the Recyclebank website. Users and partnered communities can read these proposals and donate their points in support. The selected schools, their students, and partnered communities work together to educate residents.

Schools can also organize campaigns to collect donations. Recyclebank transfers all the donation points into real dollars for the schools. Recyclebank runs the Green Schools Program. Your email address will not be published.

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Privacy Policy Disclosure Contact Advertise. Recycling rates increased by 8. The weight of recycling collected by households has increased by kg in Windsor and Maidenhead and by 70kg in Halton. This compares to a national average of just 18kg. The scheme is now available to , UK households. Rapid expansion is anticipated in as Recyclebank forges links with more local authorities.

The scheme is established in every state in the US and has successfully proven that reward is the best way to motivate people to take everyday green actions.