Under the leadership of Union Minister Bhupender Yadav during India’s G20 Presidency, the Resource Efficiency Circular Economy Industry Coalition (RECEIC) was introduced with a momentous launch in Chennai. This coalition aims to drive global adoption of resource efficiency and circular economy practices by bringing together companies from various sectors and countries. The inauguration took place at the G20’s Environment and Climate Sustainability Working Group and Environment and Climate Ministers meeting.
The Vision for RECEIC
India’s G20 Presidency laid the foundation for RECEIC, a visionary initiative intended to foster resource efficiency and circular economy practices worldwide. The coalition seeks to ensure its continuity beyond India’s G20 Presidency, leaving a lasting positive impact on environmental sustainability.
Diverse Participation of Founding Members
RECEIC proudly comprises 39 companies headquartered in 11 different countries, representing a diverse range of businesses. These companies span across various industries, including manufacturing, waste collection, sorting, and recycling. Notably, both multinational corporations and innovative startups and Small and Medium Enterprises (SMEs) have come together to champion this cause.
Addressing Critical Environmental Challenges
With the world facing pressing challenges like climate change, biodiversity loss, and pollution, resource efficiency and circular economy practices present compelling solutions. By transitioning from the traditional linear “take-make-waste” model to a sustainable and regenerative approach, these strategies optimize resource utilization and minimize waste, promoting equitable and sustainable development.
Catalyst for Positive Change
Union Minister Bhupender Yadav highlighted the pivotal role of RECEIC as a catalyst for driving sustainable solutions and transformative actions. Collaboration within the industry can lead to partnerships, technological cooperation, knowledge exchange, and innovative financing, paving the way for practical and impactful changes.
Guiding Principles of RECEIC
RECEIC operates on three guiding principles:
a. Partnerships for Impact: Encouraging collaborative efforts among participating industries to drive collective and meaningful change.
b. Technology Cooperation: Promoting the exchange of innovative technologies to support sustainable practices.
c. Finance for Scale: Facilitating access to financing for large-scale adoption of resource efficiency and circular economy practices.
Collaborative Platform for Sustainability
With RECEIC serving as a collaborative platform, participating industries have the opportunity to share best practices, sustainable strategies, and valuable knowledge. This platform aims to propel resource efficiency and circular economy practices to unprecedented levels.
The launch of the Resource Efficiency Circular Economy Industry Coalition (RECEIC) signifies a crucial step by India’s G20 Presidency towards global environmental sustainability. With diverse participation and strong guiding principles, RECEIC stands as a beacon of hope for driving resource efficiency and circular economy practices worldwide, inspiring positive change and progress for a greener and more sustainable future.
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RECEIC Launched by Union Minister – FAQs
Q1: What is RECEIC?
Ans: In order to promote resource efficiency and circular economy practices globally, the Resource Efficiency Circular Economy Industry Coalition (RECEIC) was established during India’s G20 Presidency. It brings together businesses from different industries and nations to collaborate on environmental sustainability.
Q2: How diverse is the participation in RECEIC?
Ans: 39 businesses with headquarters in 11 different nations make up RECEIC, which represents a wide variety of industries. These businesses, which include multinational corporations, start-ups, and Small and Medium Enterprises (SMEs), operate in sectors like manufacturing, waste collecting, sorting, and recycling.
Q3: How can companies benefit from being part of RECEIC?
Ans: The RECEIC offers participating businesses the chance to work with a variety of stakeholders, exchange knowledge, implement sustainable practices, and support environmental sustainability on a worldwide level.