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Emphasis will be given on circular economy agenda during G20 chairmanship: Amitabh Kant

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

New Delhi:

Emphasizing on the Sustainable Development Goals, India’s G20 Sherpa Amitabh Kant today said that we need to look at alternative paradigms of production and consumption for sustainable materials and betterment of society.

Addressing the 6th edition of FICCI Circular Economy Symposium 2022, Amitabh Kant said that today there is a high level of awareness among government, institutions and corporates about circular economy. “During our G20 Presidency, we will emphasize on pursuing the circular economy agenda to develop consensus on key issues. The G20 provides opportunities by accelerating the circular transition and FICCI (Federation of Indian Chambers of Commerce and Industry) There will be a need to play an effective role. A role in many deliberations under the G-20,” he stressed.

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

Amitabh Kant further said that the transition to a fully circular economy within a generation will require immediate and large-scale action from all parts of society. Climate change is essential to the circular economy and a great deal of cross-sectoral collaboration is vital to facilitate a circular economy. “We ensure that regulations are not burdensome that there are cross-cutting issues that will be identified and resolved. We will promote this through business models and startups and create a business model of circular economy. This is a part of innovation Should be.” Part of the business model is that whatever we produce becomes an input into another thing that we produce, so there is a backward and forward relationship,” he said.

Amitabh Kant said that the Ministry of Environment and Forests will introduce revised rules for Used Tyres, Extended Producer Responsibility for Batteries, E-waste and Plastics in 2022. He said that the scrapping policy for end of life vehicles with enabling framework is in place and extended manufacturer responsibility in several other additional areas will be finalized soon.

He emphasized that climate change and material use are closely linked as circular economy strategies ultimately prioritize material value retention and cut down on excess consumption; Amitabh Kant said they can be extremely effective in cutting greenhouse gas emissions.

He further added that FICCI is now working closely with NITI Aayog, European Union and other industry partners to develop a ‘Unified National Circularity Measurement Framework’ for standardized benchmarking and reporting. Amitabh Kant said that India’s proposed framework for circular economy measurement can be adopted by other emerging economies as well.

Michael Bucki, Counselor and Head of the Sustainable Modernization Section, EU Delegation to India said that circular economy can play a role as an enabler to boost productivity and save costs, energy and greenhouse emissions. He added that more efficient digital business models can strengthen domestic capabilities and provide sustainable solutions for the world.

Amit Sinha, Chairman, National CE Committee, FICCI and Group Strategy, Mahindra & Mahindra, said that the circular economy is an important bridge between economic growth and resource consumption. Although the circular economy has been in the news, now, more than ever, a clear, economically rational business opportunity is being created, he said.

Naresh Tyagi, Co-Chair, FICCI National CE Committee and Chief Sustainability Officer, Aditya Birla Fashion & Retail, said that circular economy is the new paradigm which emphasizes on eliminating waste and optimizes the manufacturing process and ultimately optimum use of resources. provides a huge opportunity for Use. “The circular economy has great potential and can replace the use-and-throw model,” he said.

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

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