World News

Circular economy agenda will be highlighted during G20 presidency: Amitabh Kant

Amitabh Kant said the transition to a fully circular economy will require urgent action.

New Delhi:

Focusing on the Sustainable Development Goals, Indian G20 Sherpa Amitabh Kant said today that we need to look at alternative paradigms of production and consumption to achieve sustainable materials and human well-being. society.

Addressing the Sixth Edition of FICCI Circular Economy Symposium 2022, Amitabh Kant said that today, a higher level of awareness is present in government, institutions and businesses regarding circular economy. . “During our G20 presidency, we will focus on boosting the circular economy agenda to build consensus on key issues. The G20 offers opportunities by accelerating the circular transition and the FICCI (Federation of Indian Chambers of Commerce and Industry) will have to play the effective role in very many deliberations within the framework of the G20”, he underlined.

The circular economy is a system solutions framework that tackles global challenges such as climate change, biodiversity loss, waste and pollution.

Amitabh Kant further stated that transitioning to a fully circular economy within a generation will require urgent and large-scale action from all parts of society. The circular economy is necessary for climate change and huge cross-sector collaboration is essential to facilitate the circular economy. “We are making sure that regulation does not become burdensome, that there are cross-cutting issues that will be identified and resolved. We will promote it through business models and startups and create a circular economy business model. This has to be part of innovation, part of the business model where everything we produce becomes an input into something else we produce, so there are backward and forward linkages,” he added.

Amitabh Kant said that the Ministry of Environment and Forests in 2022 introduced extended producer responsibility for used tyres, batteries, revised rules for e-waste and plastics. The end-of-life vehicle disposal policy with the enabling framework is now in place and extended producer responsibility in several other additional sectors will soon be finalized, he added.

He underlined that climate change and material use are closely linked, as circular economy strategies ultimately prioritize the conservation of material value and reduce excessive consumption; they can be extremely effective in reducing greenhouse gas emissions, said Amitabh Kant.

He further said that FICCI is now working closely with NITI Aayog, the European Union and other industry partners to develop a “unified national circularity measurement framework” for benchmarking and reporting. standardized. The proposed framework for measuring India’s circular economy can also be adopted by other emerging economies, Amitabh Kant said.

Michael Bucki, Advisor and Section Head for Sustainable Modernization, European Union Delegation to India, said the circular economy can act as a catalyst to boost productivity and reduce costs, energy and greenhouse gas emissions. More effective digital business models can strengthen national capacities and provide sustainable solutions for the world, he added.

Amit Sinha, Chairman of National CE Committee of FICCI and Chairman of Group Strategy, Mahindra & Mahindra, said the circular economy is the key bridge between economic growth and resource consumption. While the circular economy has been discussed, but now, more than ever, a clear and economically rational business opportunity is being created, he added.

Naresh Tyagi, FICCI National CE Committee Co-Chair and Sustainable Development Manager, Aditya Birla Fashion and Retail, said circular economy is the new paradigm that emphasizes waste disposal and provides greater possibility of optimal use of resources in the manufacturing process and the end. use. “The circular economy has great potential and can replace the use-and-throw model,” he added.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Featured Video of the Day

Bank of England offers biggest interest rate hike in 30 years


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button