CIRCULAR ECONOMY COALITION

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Context: The Union Minister of Environment, Forest and Climate Change launched the Resource Efficiency Circular Economy Industry Coalition (RECEIC). The Minister said that a circular economy model would help shift from the linear “take-make-waste” paradigm and embrace a more sustainable and regenerative approach.

Details

• The Resource Efficiency Circular Economy Industry Coalition (RECEIC) is a collaborative effort involving 39 multinational corporations from various sectors, including steel, FMCG (FastMoving Consumer Goods), and electronics.
• These corporations have pledged to adopt circular economy principles to address environmental challenges, particularly those related to waste management, including plastics, microplastics, e-waste, and chemical waste.
• Resource efficiency means using natural resources in a way that minimizes environmental impacts, such as greenhouse gas emissions, water consumption, and waste generation.
• The RECEIC is open to any company or organization that shares its vision and mission, and that is willing to commit to its principles and objectives.

Circular Economy

About

• The concept of a circular economy has gained prominence in response to the challenges posed by the traditional linear economy, which is based on the "take-make-waste" model.
  • In a linear economy, resources are extracted, processed into products, used, and eventually discarded as waste. This linear approach leads to resource depletion, environmental pollution, and waste accumulation.
• The circular economy seeks to create a closed-loop system where resources are continuously reused, repaired, remanufactured, and recycled, thereby minimizing waste generation and maximizing resource efficiency.

Features

• The circular economy focuses on regenerating natural systems, restoring ecosystems, and ensuring a positive impact on the environment.
• The emphasis is on designing products and processes to minimize waste and keep materials in circulation for as long as possible.
• Products are designed for durability, reparability, and upgradability to extend their lifespan.
• The circular economy promotes closed-loop systems, where materials are continuously circulated through reuse, recycling, and remanufacturing.
• Optimizing the use of resources to reduce inputs and minimize environmental impact.

Significance

• A circular economy promotes responsible resource management, reducing the burden on natural resources and ecosystems.
• By minimizing waste and pollution, the circular economy contributes to cleaner and healthier environments.
• Adopting circular business models can lead to new economic opportunities and job creation in the recycling, remanufacturing, and repair industries.
• A circular economy can help lower greenhouse gas emissions by reducing the demand for new raw materials and reducing energy consumption.

Steps Taken by India

• Policy initiatives: The government has introduced policy measures and guidelines to promote waste management, recycling, and sustainable consumption.
• Extended Producer Responsibility (EPR): India has implemented EPR regulations for various products, making producers accountable for their waste management.
• Swachh Bharat Abhiyan: The Clean India Mission focuses on improving waste management and sanitation infrastructure, promoting a cleaner and more sustainable environment.
• Plastic waste management: India has been actively working on managing plastic waste through various initiatives, including plastic waste recycling programs.

Challenges

• Behavioural change: Transitioning to a circular economy requires changing consumer behaviour and business practices, which can be challenging.
• Lack of infrastructure: Insufficient infrastructure for recycling, remanufacturing, and resource recovery can hinder circular economy implementation.
• Market barriers: Some circular products and services face market barriers, such as higher initial costs or limited demand.
• Informal sector involvement: The informal waste sector plays a significant role in recycling, but it also faces challenges related to health, safety, and working conditions.
• Global coordination: As resources and materials often move across borders, achieving a truly circular economy requires global collaboration and coordination.

Way Forward

• Public awareness and education: Increasing awareness about the circular economy's benefits and promoting sustainable consumption can drive behavioural change.
• Collaboration and partnerships: Governments, businesses, and NGOs need to collaborate to create enabling environments and overcome challenges together.
• Investment in infrastructure: Governments and private sectors should invest in infrastructure and technologies that support circular practices.
• Policy alignment: Ensuring policy coherence and alignment between different sectors and levels of government can facilitate the circular economy transition.
• Research and innovation: Continued research and innovation are crucial for developing new circular solutions and overcoming technical barriers.

Conclusion

• The transition to a circular economy is a complex and ongoing process, but its potential to promote sustainability, economic growth, and environmental preservation makes it a compelling pathway for a more resilient and responsible future

Must-Read Articles:

MOVING AWAY FROM TAKE MAKE DISPOSE MODEL: https://www.iasgyan.in/daily-current-affairs/moving-away-from-take-make-dispose-model#:~:text=A%20circular%20economy%20is%20an,use%2C%20and%20regenerate%20natural%20systems.

https://www.thehindu.com/news/national/tamil-nadu/39-mncs-come-together-for-circular-economy-coalition/article67128308.ece