Project
| ID | INDIGO-POJ-0301 |
|---|---|
| Impact Bond Name - (Value) | Waste-to-Wealth Campaign |
| Alternative Names - (Value) | Wecyclers Outcomes Partnership |
| Stage of Development - (Value) | Implementation |
| Stage of Development - (Source ID's) | source1 |
| Dates - Date outcomes contract signed - (Value) | 2023-03 |
| Dates - Start date of service provision - (Value) | 2023-06 |
| Dates - Anticipated end date of service provision - (Value) | 2028-05 |
| Dates - Anticipated duration of service provision - (Value) | 60 |
| Dates - (Source ID's) | source5 |
| Jurisdiction - Jurisdiction - (Value) | NG |
| Jurisdiction - (Source ID's) | source1 |
| Overall project finance - Total investment commitment - Currency - (Value) | USD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 1621395 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | USD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 2019375 |
| Overall project finance - Maximum potential outcome payment - Amount USD - (Value) | 2019375 |
| Overall project finance - (Source ID's) | source5 |
| Purpose and classifications - Social challenge - (Value) | Waste management and sustainable employment - Wecyclers, a social enterprise in Nigeria focused on waste collection and recycling, to develop their franchise model for the collection and sorting of plastic waste. This outcomes contract includes social, environmental, and financial targets, which will see Wecyclers collect more than 30,000 tonnes of plastic waste over the next five years, create over 700 jobs in recycling franchises across Nigeria, and improve the incomes of thousands of waste sorters. |
| Purpose and classifications - Intervention - (Value) | Plastic waste collection & recycling in Nigeria |
| Purpose and classifications - Policy sector - (Value) | Agriculture and environment |
| Purpose and classifications - Primary SDG goal - (Value) | 12 |
| Purpose and classifications - Secondary SDG goals - (Value) | 8,1,10,14 |
| Purpose and classifications - (Source ID's) | source5 |
| Service and beneficiaries - Target population - (Value) | The project is increasing the removal and recycling of plastic waste from the environment through a franchise model which supports sustainable employment in the waste management economy in Nigeria. Social entrepreneurs run the franchises – they engage with local collectors as well as employ balers and sorters. The programme is focused on training and supporting social entrepreneurs in establishing their own franchises. By providing the necessary equipment, Wecyclers can work in underserved communities and create much-needed collection and recycling facilities as well as supporting the local communities with income and employment opportunities. |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 780 |
| Service and beneficiaries - Unit type of targeted service users or beneficiaries - (Value) | Individual |
| Service and beneficiaries - Unit description of targeted service user or beneficiaries - (Value) | No. of jobs created in the waste management economy |
| Service and beneficiaries - (Source ID's) | source5 |
| Delivery Locations 1: Service Provision ID - (Value) | deliverylocation1 |
| Delivery Locations 1: Location - Name - (Value) | Nigeria |
| Delivery Locations 1: Location - Country - (Value) | NG |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 9.082 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 8.6753 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Unilever, Wecyclers, and BOP Partner to Create Wealth From Plastics Waste |
| Sources 1: Type - (Value) | Press release |
| Sources 1: URL - (Value) | https://medium.com/@wecyclers/unilever-wecyclers-and-bop-partner-to-create-wealth-from-plastics-waste-5b01ac95d80d |
| Sources 1: Publication Date - (Value) | 2023-04-17 |
| Sources 1: Accessed Date - (Value) | 2023-09-04 |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | UNILEVER Nigeria partners with WECYCLERS to expand plastic recycling |
| Sources 2: Type - (Value) | Website |
| Sources 2: URL - (Value) | https://www.globalcosmeticsnews.com/unilever-nigeria-partners-with-wecyclers-to-expand-plastic-recycling/#:~:text=Together%20with%20Bridges%20Outcomes%20Partnerships,a%20report%20published%20by%20Leadership. |
| Sources 2: Publication Date - (Value) | 2023-04-26 |
| Sources 2: Accessed Date - (Value) | 2023-09-04 |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | Nigeria: Wecyclers secures $2m to recycle 30,000 tonnes of plastics in 5 years |
| Sources 3: Type - (Value) | Website |
| Sources 3: URL - (Value) | https://www.afrik21.africa/en/nigeria-wecyclers-secures-2m-to-recycle-30000-tonnes-of-plastics-in-5-years/ |
| Sources 3: Publication Date - (Value) | 2023-04-20 |
| Sources 3: Accessed Date - (Value) | 2023-09-04 |
| Sources 4: Id | source4 |
| Sources 4: Name - (Value) | British International Investment makes first investment in development impact bonds |
| Sources 4: Type - (Value) | Press release |
| Sources 4: URL - (Value) | https://www.bii.co.uk/en/news-insight/news/british-international-investment-makes-first-investment-in-development-impact-bonds/ |
| Sources 4: Publication Date - (Value) | 2023-07-20 |
| Sources 5: Id | source5 |
| Sources 5: Name - (Value) | Email correspondence with Bridges Outcomes Partnerships on 6th December 2024. |
| Sources 5: Type - (Value) | Email correspondence |
| Sources 5: Publication Date - (Value) | 2024-12-06 |
| Sources 5: Accessed Date - (Value) | 2025-01-27 |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-1548 |
| Service Provisions 1: Organisation Role Category - (Value) | For-profit |
| Service Provisions 1: Intervention - (Value) | Wecyclers to use their franchise model to expand plastic waste collection & recycling, and create sustainable employment in Nigeria. |
| Service Provisions 1: Planned Service - Start - (Value) | 2023-06 |
| Service Provisions 1: Planned Service - End - (Value) | 2028-05 |
| Service Provisions 1: Actual Service - Start - (Value) | 2023-06 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1550 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Corporate Giving |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | EUR |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 1875000 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount USD - (Value) | 2019375 |
| Outcome Payment Commitments 1: Result type - (Value) | Overall |
| Investments 1: Id | investments1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0534 |
| Investments 1: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Investments 2: Id | investments2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-1587 |
| Investments 2: Organisation Role Category - (Value) | Multilateral/Bilateral/Intergovernmental Financial Institution |
| Investments 3: Id | investments3 |
| Investments 3: Organisation ID - (Value) | INDIGO-ORG-1279 |
| Investments 3: Organisation Role Category - (Value) | Multilateral/Bilateral/Intergovernmental Financial Institution |
| Investments 4: Id | investments4 |
| Investments 4: Organisation ID - (Value) | INDIGO-ORG-1707 |
| Investments 4: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Investments 5: Id | investments5 |
| Investments 5: Organisation ID - (Value) | INDIGO-ORG-1280 |
| Investments 5: Organisation Role Category - (Value) | High Net Worth Individual/Family Office/Private Bank |
| Investments 6: Id | investments6 |
| Investments 6: Organisation ID - (Value) | INDIGO-ORG-1708 |
| Investments 6: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-1549 |
| Intermediary services 1: Organisation Role Category - (Value) | Other |
| Intermediary services 1: Other Role Description - (Value) | Soc Gen is the intermediary between Unilever (funders) and Wecyclers (Service providers) in structuring the fund |
| Intermediary services 1: Notes | The new $2 million financing was provided by the French investment bank Société Générale; through Unilever West Africa Nigeria, the subsidiary of the Dutch-British multinational consumer goods company and the English social enterprise Bridges Outcomes Partnerships. |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-0121 |
| Intermediary services 2: Organisation Role Category - (Value) | Performance management |
| Intermediary services 2: Other Role Description - (Value) | Fund Manager and Performance Manager |
| Intermediary services 2: Notes | The new $2 million financing was provided by the French investment bank Société Générale; through Unilever West Africa Nigeria, the subsidiary of the Dutch-British multinational consumer goods company and the English social enterprise Bridges Outcomes Partnerships. |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Tonnes of plastic waste collected |
| Outcome Metrics 1: Unit type of targeted Service users or beneficiaries - (Value) | Other |
| Outcome Metrics 1: Unit description of Service user or beneficiaries - (Value) | Tonnes of plastic waste |
| Outcome Metrics 1: Outcome metric target - (Value) | 34000 |
| Outcome Metrics 1: Policy sector - (Value) | Agriculture and environment |
| Outcome Metrics 1: Primary SDG goal - (Value) | 12 |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | Number of jobs created |
| Outcome Metrics 2: Target Population - (Value) | Communities in Nigeria often polluted by local plastic waste, with lack of formal waste management solutions, and who experience high poverty, lack of economic opportunities, and basic infrastructure |
| Outcome Metrics 2: Unit type of targeted Service users or beneficiaries - (Value) | Individual |
| Outcome Metrics 2: Unit description of Service user or beneficiaries - (Value) | No. of unique jobs filled |
| Outcome Metrics 2: Outcome metric target - (Value) | 780 |
| Outcome Metrics 2: Policy sector - (Value) | Employment and training |
| Outcome Metrics 2: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 3: Id | outcomemetric3 |
| Outcome Metrics 3: Outcome Definition - (Value) | Ratio of wages paid to minimum wage |
| Outcome Metrics 3: Unit type of targeted Service users or beneficiaries - (Value) | Other |
| Outcome Metrics 3: Unit description of Service user or beneficiaries - (Value) | Ratio of wages paid to minimum wage |
| Outcome Metrics 3: Outcome metric target - (Value) | 1.25 |
| Outcome Metrics 3: Policy sector - (Value) | Poverty reduction |
| Outcome Metrics 3: Primary SDG goal - (Value) | 8 |
| Outcome Pricings 1: Outcome Metric Id - (Value) | outcomemetric1 |
| Outcome Pricings 1: Currency - (Value) | USD |
| Outcome Pricings 1: Price Per Unit - Amount - (Value) | 46 |
| Outcome Pricings 1: Maximum Price if all targets achieved - Amount - (Value) | 1653195 |
| Outcome Pricings 1: Price Description - (Value) | per tonne collected |
| Outcome Pricings 2: Outcome Metric Id - (Value) | outcomemetric2 |
| Outcome Pricings 2: Currency - (Value) | USD |
| Outcome Pricings 2: Price Per Unit - Amount - (Value) | 400 |
| Outcome Pricings 2: Maximum Price if all targets achieved - Amount - (Value) | 323100 |
| Outcome Pricings 2: Price Description - (Value) | per unique job filled |
| Outcome Pricings 3: Outcome Metric Id - (Value) | outcomemetric3 |
| Outcome Pricings 3: Currency - (Value) | USD |
| Outcome Pricings 3: Price Per Unit - Amount - (Value) | 40000 |
| Outcome Pricings 3: Maximum Price if all targets achieved - Amount - (Value) | 43080 |
| Outcome Pricings 3: Price Description - (Value) | If average wage paid to sorters at the end of Year 5 is at least 25% above national min wage |
| Results 1: Outcome Metric Id - (Value) | outcomemetric1 |
| Results 1: Result level - (Value) | Outcome level |
| Results 1: Result type - (Value) | Interim |
| Results 1: Period - Start - (Value) | 2023-06 |
| Results 1: Period - End - (Value) | 2024-03 |
| Results 1: Number with Positive social outcomes - (Value) | 797 |
| Results 2: Outcome Metric Id - (Value) | outcomemetric2 |
| Results 2: Result level - (Value) | Outcome level |
| Results 2: Result type - (Value) | Interim |
| Results 2: Period - Start - (Value) | 2023-06 |
| Results 2: Period - End - (Value) | 2024-03 |
| Results 2: Number with Positive social outcomes - (Value) | 109 |