In line with India’s G20 Presidency and with a vision to champion resource efficiency and circular economy practices on a global scale, Union Minister Bhupender Yadav inaugurated the Resource Efficiency Circular Economy Industry Coalition (RECEIC) in Chennai. This groundbreaking coalition unites 39 companies, representing an array of industries and headquartered in 11 different countries, with a common goal of advancing sustainable practices and optimizing resource utilization.
With a focus on environmental sustainability, RECEIC serves as a catalyst for action, acting as a self-sustaining initiative that extends beyond India’s G20 Presidency. By joining forces, these companies aim to tackle pressing global challenges such as climate change, biodiversity loss, and pollution, employing resource efficiency and circular economy strategies as potent solutions.
The coalition’s membership boasts a diverse range of businesses, including multinational corporations, startups, and Small and Medium Enterprises (SMEs). Spanning manufacturing, waste collection, sorting, and recycling industries, these companies represent a robust force committed to promoting equitable and sustainable development through innovative practices.
Transitioning from the conventional linear “take-make-waste” model, RECEIC envisions a more sustainable and regenerative approach to resource utilization. By optimizing resource usage and minimizing waste, resource efficiency and circular economy strategies present a compelling path towards a greener and more sustainable future.
During the launch event, Union Minister Bhupender Yadav underscored the pivotal role of RECEIC as a driving force for sustainable solutions. Through collaboration and collective action, participating industries can transform aspirations into tangible initiatives. The coalition’s mission encompasses forging partnerships, fostering technology cooperation, and facilitating access to innovative financing for the large-scale adoption of sustainable practices.
RECEIC’s operational principles revolve around three key pillars. First, “Partnerships for Impact” encourage collaboration among industries to enact meaningful change and collective action. Second, “Technology Cooperation” advocates the exchange of innovative technologies to support sustainable practices. Lastly, “Finance for Scale” aims to facilitate access to financing for large-scale adoption of resource efficiency and circular economy practices.
As a collaborative platform for knowledge-sharing, RECEIC endeavors to advance resource efficiency and circular economy practices on an unprecedented scale. With its diverse and committed membership, the coalition is poised to be a driving force behind transformative sustainable practices, leaving a lasting legacy on environmental sustainability beyond the realm of India’s G20 Presidency.