Minister Yadav launches G20's resource efficiency initiative

Union Environment, Forest and Climate Change Minister Bhupender Yadav on Thursday launched a Resource Efficiency Circular Economy Industry Coalition (RECEIC), conceptualised under India's G20 Presidency, to promote the practices of resource efficiency and circular economy globally.

This industry-driven initiative was launched at the G20 fourth Environment and Climate Sustainability Working Group and Environment and Climate Ministers meeting here.

The coalition is envisioned to be a self-sustaining entity that will continue to operate beyond India's G20 Presidency, making a lasting impact on environmental sustainability. About 39 companies headquartered in 11 different countries have joined the coalition as its founding members.

"It gives me great pleasure to congratulate the 39 founding members of RECEIC for their commitment and willingness to step forward and join this coalition. They represent a diverse array of corporations, ranging from global multinational giants to startups and Small and Medium Enterprises, covering a wide spectrum of industries, from manufacturing to waste collection, sorting, and recycling," the minister said on the occasion.

"Amidst the critical challenges of climate change, biodiversity loss, and pollution, we find ourselves at a pivotal moment — a moment that holds the potential to ignite action and introduce sustainable solutions, that will safeguard the well-being of our planet and future generations. This also presents us with an opportunity to catalyse positive change and usher in a new era of sustainable development," Yadav said.

Resource efficiency and circular economy strategies present compelling solutions to address the challenges of resource scarcity and the imperative of equitable and sustainable development, he said and added that embracing a circular economy model enables the transition from the linear "take-make-waste" paradigm and embrace a more sustainable and regenerative approach.

These strategies optimise resource utilisation, minimise waste, and create an inclusive and balanced approach to economic growth, social progress and environmental stewardship, the minister said. "By working together, the industry can transform aspirations into concrete actions.

I am sure that RECEIC will serve as a catalyst to facilitate partnerships, foster technological collaborations and knowledge exchange, nurturing innovation and share learnings for accessing finance. RECEIC will be a stepping stone to advance our collective efforts to accelerate resource efficiency and circular economy at an unprecedented scale," he said.

This collaborative platform aims to facilitate knowledge-sharing, best practice sharing, and sustainable practices.