Circularity Innovation Hub India and Green Worms have launched a global and India-wide circular economy initiative by integrating Circularity Credits with the RBI's Programmable Central Bank Digital Currencies (CBDCs). This project sets a global benchmark for combining sustainability with financial inclusion, offering end-to-end traceability and transparency in generating and disbursing revenues from Circularity Credits through CBDCs.
Through its Circularity Registry, Circularity Global issues Circularity Credits, a unique asset class that quantifies and monetises circular economy activities such as waste recovery, recycling, and material reuse. These credits, recorded transparently on blockchain, enable businesses, governments, and individuals to participate in a verified circular economy marketplace.
Circularity's impact extends beyond credit issuance. The company's Innovation Hubs establish advanced recycling and resource recovery ecosystems, while Circularity Fintech leverages programmable Central Bank Digital Currency (CBDC) to facilitate microfinance solutions for marginalised communities, including waste pickers and farmers.
The Central Bank Digital Currency (CBDC) by the Reserve Bank of India (RBI) is a digital version of the Indian Rupee issued and regulated by the RBI. It is designed to function as legal tender, similar to physical cash, but in a digital form.
The Circularity Innovation Hub-India and Green Worms partnership aims to drive systemic change, enabling the ecosystem to transition from a Linear Economy to a Circular Economy, build material-specific value chains that incentivise waste collection and drive financial inclusion through recycling programs developed jointly with brands and manufacturers.
Through this initiative, over 100 Kudumbashree women engaged in plastic and textile waste management received additional income via Programmable CBDCs, issued in collaboration with the Reserve Bank of India (RBI) and a leading private sector bank. These digital assets enabled direct, secure, and transparent payments, allowing recipients to purchase essential goods and improving financial resilience for the women workers.
This marks Circularity's second major CBDC deployment, following its 2024 pilot with RBI, IndusInd Bank, and Hindustan Agro Farmer Cooperative. The pilot distributed programmable financial aid to ensure funds were used for agricultural inputs. IndusInd Bank initiated the CBDC disbursement to 50 farmers in Maharashtra's Ratnagiri district, with plans to extend coverage to around 1,000 farmers, marking a significant milestone in adopting innovative financial solutions for agriculture.
Joel Michael, Founder & CEO of Circularity Global, stated, "By fostering a true Circular Economy, we have successfully merged environmental impact with social good through the world's first large-scale deployment of Programmable CBDCs. Circularity Credits, trading between $40-$80 USD, have generated additional monthly incomes of Rs 500-1,000 for marginalised communities, including farmers and sanitation workers. We aim to scale this to Rs 5,000 per month and positively impact 1 million lives within the next three years."
Green Worms Founder & CEO added, "The integration of Circularity Credits and CBDCs is a game-changer for the waste management sector. By directly rewarding the efforts of sanitation workers, we are not only improving livelihoods but also strengthening the circular economy in India. This initiative is a model for how sustainability and financial inclusion can go hand in hand."
