José Adolfo, a 13-year-old from Peru, has developed an “eco-bank” that allows children and young adults to deposit solid waste and withdraw money.
Bank members must bring in at least 11 pounds of solid waste—paper or plastic—and establish a savings goal to open an account, Recycling Today reports. Once accepted, bank partners are required to deposit at least 2.2 pounds of recyclables per month.
According to the report, the waste is then sold to recycling companies and money is deposited into the individual's account. The teenager set out on this venture to fight poverty and climate change.
Recycling Today has more details:
A 13-year-old from Arequipa, Peru, has run an "eco-bank" for children since the age of seven.
The ambitious venture allows children and young adults to deposit solid waste and withdraw money, according to a news release.
At José Adolfo’s eco-bank, members can start their own bank accounts by depositing their collected waste. The waste is converted into currency, which they can choose to save or withdraw.
“My project is a bank for children and young people that provides financial education,” Adolfo says in a video.