Page 41 - Shelter - April 2025
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POLICY REVIEW


              Benefits and Potential:            circular economy practices   by committing to enhance
                                                 and developing supportive    environmentally sound waste
              •  Economic     Growth:    A
                 circular economy can lead       policies are necessary.      management,     substantially
                 to significant economic  Research                     and    reduce waste generation by
                 benefits,   with   studies  Development:                     2030,  and  highlighting  the
                                                                              importance  of  zero  waste
                 predicting potential annual                                  initiatives.
                 benefits of USD 624 billion   •  Promoting  research  and
                 by 2050.                        development in the field of   RECEIC has the potential
                                                 circular economy can lead    to   transform    aspirations
              •  Job  Creation:  The  circular   to innovative solutions.
                 economy is expected to                                       into concrete action and
                 create millions of jobs.     •  Collaboration:    Between    would play a pivotal role
                                                 government,    businesses,   in    promoting     alliances,
              •  Environmental Conservation:     and civil society is essential   encouraging  technological
                 By    minimising     waste      to build a robust circular   cooperation  and  knowledge
                 and  resource  extraction,      economy framework.           transfer, fostering innovation,
                 a  circular  economy  can                                    and facilitating the exchange
                 contribute to environmental   •  Startups:  India  has  a    of insights to enhance access
                 conservation          and       growing     number      of   to finance.
                 sustainability.                 startups focused on circular
                                                 economy         solutions,   The  RECEIC,  conceptualised
              •  Resource  Efficiency:  The      indicating the potential for   by the India’s G20 Presidency
                 circular economy aims           innovation  and  growth  in   is envisaged to be industry
                 to maximise the value           this sector.                 driven and a self-sustaining
                 of resources throughout                                      initiative  continuing     to
                 their  lifecycle,  promoting   Resource        Efficiency    function even beyond India’s
                 resource efficiency.         Circular Economy Industry       G20  Presidency.  The  mission
                                              Coalition (RECEIC)
              •  Sustainable  Development:                                    of this coalition is to facilitate
                 Transitioning to a circular   Circular  economy,  extended   and foster greater company-
                 economy  aligns  with  the   producer  responsibility  and   to-company     collaboration,
                 Sustainable Development      resource   efficiency   plays   build advanced capabilities
                 Goals (SDGs).                a  critical  role  by  making   across sectors and value
                                              an endeavour to decouple        chains,    bring    learnings
              Challenges               and    our economic growth from        from diverse  and global
              Opportunities:                  environmental    degradation    experiences of the coalition
              •  Infrastructure Development:   and enhancing sustainable      members,  and  unlock  on-
                 Improving infrastructure     consumption and production,     ground private sector action
                 for waste management and     including primary resource      to enhance resource efficiency
                 recycling is crucial.        consumption            while    and     accelerate   circular
                                              supporting economic growth      economy transition.
              •  Awareness and Education:     and achieving sustainable       The coalition is structured
              •  Creating  awareness  and     development.    During    the   around the three guiding
                 education programs about     Indian  presidency  of  G-20,   pillars   of    partnerships
                 circular economy practices   an  industry  led  coalition  on   for   impact,   technology
                 is essential.                Resource Efficiency Circular    cooperation and finance for
                                              Economy  Industry Coalition
              •  Incentives  and  Policies:                                   scale.   Resource   efficiency
                 Providing   incentives for   (RECEIC)     was    launched    and     circular    economy


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