Industry led coalition on resource efficiency and circular economy can transform aspirations into concrete actions says Union Minister Bhupender Yadav
Union Minister launches Resource Efficiency Circular Economy Industry Coalition
in Chennai
Industry led coalition on resource efficiency and circular economy has
the potential to transform aspirations into concrete actions. Union Minister
Bhupender Yadav said this at the launch of 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 in Chennai today.
The official launch of RECEIC was through the signing of the
foundational charter and the unveiling of the logo. Addressing the gathering, Bhupender
Yadav, the Minister of Environment, Forest, and Climate Change, emphasised that
RECEIC 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 side event organised to launch the Resource Efficiency and Circular
Economy Industry Coalition (RECEIC) was a truly remarkable and significant
milestone as the culmination of the dedicated efforts over the past eight to
nine months of the ECSWG. The RECEIC, conceptualised by the India’s G20
Presidency is envisaged to be industry driven and a 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 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 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 Environment and Climate Sustainability Working Group (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 deliberations over the ECSWG meetings have been aimed at
sharing knowledge, formulating action plans and direct collaborative efforts
towards developing effective strategies and initiatives for a sustainable
future and combating climate change.
An early start on the second day of the 4th ECSWG and
Environment and Climate Ministers meeting allowed extensive discussions on
water resource management, preamble & climate change, resource efficiency
and circular economy and blue economy under the environment and climate track.
The deliberations were geared contributing towards the draft Ministerial
Outcome documents. Following the lunch and the evening tea breaks, the sessions
witnessed compelling discussions on the draft Communique, with a shared goal of
achieving a conclusive outcome.