Greenback (IFC-608553)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
UNKNOWN
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 2, 2026

Disclosed by Bank Mar 14, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank, the IFC and Greenback Recycling Technologies, Limited have signed an agreement to jointly develop a waste recycling pilot project, featuring innovative modular recycling plants. These chemical recycling plants have the capacity to transform multilayer plastic waste into pyrolysis oil, which can be reused for recycled plastic production. The technology allows to extract aluminum from the feed stock. Additionally, Greenback developed a traceability software called eco2Veritas that uses AI, IoT (i.e. scales, temperature readings and optical scanners), as well as the blockchain technology to produce certificates that are sold to off-takers and brands as proof to claims they make about the recycled content in their products. The initial project covers three modules and is expected to have a maximum capacity to transform approximately 6,750 tons of waste into 4,500 tons of pyrolysis oil annually. Under the agreement, IFC will share a portion of the project development costs, provide substantial expertise to ensure compliance with the IFC Performance Standards and leverage its expertise to support the project development and financing. The project’s objective is thus to support two innovative technological solutions for plastic packaging circularity and provide leeway for circular economy schemes in Latin America.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

not disclosed at the moment of the creation of the snapshot

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to bloomberg, Greenback Recycling Technologies Limited operates decentralized recycling services. The Company converting post-consumer plastic packaging, advanced chemical recycling, food grade raw material plants, and waste liability management. Greenback Recycling Technologies serves in the United Kingdom.

 
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Greenback Recycling Technologies Contractor -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Greenback Cuautla, 30 de Septiembre Ampliacion Hermenegildo Galeana Col. Juan Morales, 62743 Cuautla, Morelos - Mexico

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works