Resource Efficiency and Circular Economy are powerful strategies that aim to reduce dependence on natural resources, minimize waste, and promote sustainable design practices.
In the pursuit of sustainable development and achieving the Sustainable Development Goals, it is crucial to decouple resource usage from economic growth.
As part of its G-20 presidency, India has identified four priority areas for the circular economy: circularity in the steel sector, Extended Producer Responsibility (EPR), circular bioeconomy, and the establishment of an industry-led resource efficiency and circular economy coalition.
A circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible
Many G-20 member countries have committed to achieving net zero emissions and are working to mitigate greenhouse gas emissions.
To ensure responsible resource consumption, there is a need to raise the current recycling rates, which generally range from 15% to 25%.
The steel sector plays a crucial role in infrastructure development, and its efficient utilization is vital, especially with increasing steel demand in growing economies like India.
Transitioning towards a circular steel sector is key to addressing emissions, as approximately 7% of energy sector emissions globally are attributed to iron and steel production.
Collaboration among G-20 countries for knowledge sharing and technology transfer is essential in achieving this goal.
The implementation of Extended Producer Responsibility (EPR) is crucial for promoting recycling infrastructure and streamlining waste collection systems.
India has one of the largest EPR frameworks, with over 20,000 registered Producers, Importers, and Brand Owners (PIBOs) and more than 1,900 plastic waste processors on the centralised EPR portal.
The combined EPR obligation of registered PIBOs exceeds 3.07 million tons.
Adopting a circular bioeconomy approach can address the global issue of biowaste, including municipal, industrial waste, and agricultural residue, which often leads to pollution, biodiversity loss, and global warming.
By utilizing biowaste as primary raw materials and substitutes for mineral resources, this approach reduces the need for extracting virgin resources and offers effective waste disposal solutions.
The Government of India has been actively promoting biofuels.
The Pradhan Mantri JI-VAN Yojana supports integrated bio-ethanol projects using second-generation (2G) bioethanol technology that converts waste feedstock like crop residues and municipal solid waste into valuable bioethanol.
India has launched several bioenergy schemes, such as the GOBAR Dhan scheme, which converts cattle dung and organic waste into compost, biogas, and biofuels to promote sustainable agriculture and reduce pollution.
The SATAT Scheme encourages the use of Compressed BioGas (CBG) as an alternative green transportation fuel, facilitating the development of CBG infrastructure.
India envisions an industry coalition to promote resource efficiency and circular economy practices in various sectors.
The coalition aims to foster technological collaboration, build advanced capabilities, mobilize de-risked finance, and engage the private sector actively.
Global platforms like the G-20 play a crucial part in addressing significant challenges and offering solutions through collaboration.
Resource efficiency and circular economy have emerged as essential solutions in tackling triple planetary challenges (Climate, Air and Biodiversity)
During its G-20 presidency, India has placed significant emphasis on resource efficiency and circular economy approaches as promising pathways towards a more sustainable and resilient future.
These approaches are seen as critical in addressing global environmental challenges.
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