Businesses can play a significant role to advance on-ground implementation of resource efficiency and circular economy principles. This is in addition to achieving international goals and commitments like the UN Sustainable Development Goals and Paris Climate Agreement. These are some of the foundation charters of the Resource Efficiency Circular Economy Industry Coalition launched on Thursday, in Chennai.
The coalition has founding members representing 39 companies from 11 countries. Some of the founding members include companies like Maruti Suzuki, Coca Cola, Unilever, Nestle, Aditya Birla Group, Tata Power and Mahindra & Mahindra.
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The Coalition, conceptualised by India’s G20 Presidency, is envisaged to be industry driven and a self-sustaining initiative continuing to function even beyond India’s G20 Presidency. It was launched by Bhupender Yadav, the Minister of Environment, Forest, and Climate Change, on the sidelines of the 4th Environment and Climate Sustainability Working Group Meeting.
The Coalition’s mission is to facilitate and foster greater company-to-company collaboration, build advanced capabilities across sectors and value chains, bring learnings from diverse and global experiences of the coalition members, and unlock on-ground private sector action to enhance resource efficiency and accelerate circular economy transition.
The Coalition is structured around the three guiding pillars of partnerships for impact, technology cooperation and finance for scale. Resource efficiency and the circular economy industry coalition will also aim to contribute towards progress on key global goals and priorities set by the G20 and other international fora, says a release.
The minister in his speech emphasised that the Coalition would play a pivotal role in promoting alliances, encouraging technological cooperation and knowledge transfer, fostering innovation, and facilitating the exchange of insights to enhance access to finance. Further, he acknowledged the commitment of the 39 founding members of RECEIC for stepping forward to join this coalition.
The ECSWG and Environment and Climate Ministers meeting convened in Chennai for the concluding meeting under the India Presidency to discuss the pressing environmental issues and promote global collaboration towards a sustainable and resilient future.
The second day of the 4th ECSWG and Environment and Climate Ministers saw extensive discussions on water resource management, preamble and climate change, resource efficiency and circular economy and blue economy under the environment and climate track.
The sessions witnessed discussions on the draft Communique, with a shared goal of achieving a conclusive outcome, says a release.