Industry-led coalition on resource efficiency, circular economy can transform aspirations into concrete actions : Bhupender Yadav

Chennai, July 28 (Representative) Industry-led coalition on resource efficiency and circular economy has the potential to transform aspirations into concrete actions, Union Minister of Environment, Forest and Climate Change, Bhupender Yadav said. Launching the Resource Efficiency Circular Economy Industry Coalition (RECEIC) on the sidelines of the 4th G20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting here, he said RECEIC would play a pivotal role in promoting alliances, encouraging technological cooperation and knowledge transfer, fostering innovation and facilitating 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 official launch of RECEIC was made through the signing of the foundational charter and the unveiling of the logo. An official release here said the event organised to launch the RECEIC was a truly remarkable and significant milestone as the culmination of the dedicated efforts over the past eight to nine monthsof the ECSWG. The RECEIC, conceptualised by the India’s G20 Presidency is envisaged to be industry driven anda self-sustaining initiative continuing to function even beyond India’s G20 Presidency. The mission of this coalition is to facilitate and foster greater company-to-company collaboration, build advanced capabilities across sectors and value chains, bring learnings from diverse andglobal experiences of the coalition members and unlock on-ground private sector action toenhance 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 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. In due course of time, RECEIC may be invited to the G20 Resource Efficiency Dialogue, for annual convenings as well as sharing their experiences with the G20 and highlighting success factors to enhance resource efficiency and circular economy. RECEIC will also act as an overarching platform enabling industries to address information gaps and coordination challenges across the G20 members. The ECSWG and Environment and Climate Ministers was convened in Chennai for the concludingmeeting under the India Presidency to discuss the pressing environmental issues and promoteglobal collaboration towards a sustainable and resilient future. The deliberations over the ECSWG meetings have been aimed at sharing knowledge, formulatingaction plans and direct collaborative efforts towards developing effective strategies and initiatives for a sustainable future and combating climate change. The event saw extensive discussions on water resource management, preamble & climate change,resource efficiency and circular economy and blue economy under the environment and climatetrack.