Circular Economy

Circular Economy

News: Recently, The Union Minister of Environment Forest and Climate Change launched the Resource Efficiency Circular Economy Industry Coalition (RECEIC).

Background:
• It was launched on the sidelines of the 4th G20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting.
• It is a first-of-its-kind initiative aimed at promoting resource efficiency and circular economy practices with participation from 39 global companies.

What is RECEIC?
• Conceptualized by India’s G20 Presidency, it is envisaged to be industry-driven and a self-sustaining initiative.
• It 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.

What is Circular Economy?
• A circular economy is an economic system that aims to minimize waste and make the most of resources. In a circular economy, products are designed to be reused, repaired, and recycled, and materials are kept in use for as long as possible.
• For example, IKEA has recently started a buy-back scheme, allowing old furniture a new lease of life and Surat city is generating 1000 MLD wastewater currently, and it tries to treat and reuse it undivided.

What challenges does India face in achieving a Circular economy model?
• India’s current economic model is largely linear, where resources are extracted, processed, and transformed into products that are sold to consumers.
• India has limited infrastructure for waste management and recycling.
• Industries are reluctant to adopt the circular economy model due to supply chain limitations, lack of incentives to invest in recycling and remanufacturing processes.
• In most parts of India, Waste collection and segregation are inefficient, which hinders the recycling process and leads to the disposal of valuable resources.
• Lack of awareness among people in the country about benefits of Circular economy, efficient waste disposal etc.
• Limited R&D in circular economy is another limiting factor which makes it difficult to innovate technologies and solutions that may aid recycling process in India.

What are the initiatives of Indian government to promote Circular economy?
• The E-Waste (Management) Rules 2016 - To curb the improper disposal of electronic products and to promote sustainable e-waste management practices. Similarly, Battery Waste management Rules 2022 and Plastic waste management rules also promote sustainable waste management practice.
• Extended Producer Responsibility (EPR) – It is a regulatory framework that makes manufacturers and producers responsible for the post-consumer waste generated by their products.
• Swachh Bharat Mission – Urban 2.0 - The focus is on source segregation of garbage, utilising the 3Rs (reduce, reuse, recycle), scientific processing of municipal solid waste, etc.
• Government schemes such as GOBAR Dhan scheme, Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, Pradhan Mantri JI-VAN Yojana are all aimed at promoting Circular economy.

Way Forward
• To see better results, we must make a comprehensive circular economy policy which encourages sustainable production and consumption, necessitates waste reduction and management.
• Transition to circular economy will lead to economic development, create green jobs and lead to better utilization of resources.