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Union Minister Bhupender Yadav launches Resource Efficiency Circular Economy Industry Coalition in Chennai

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Industry led coalition on resource efficiency and circular economy has the potential to transform aspirations into concrete actions: Union Minister Bhupender Yadav

Industry led coalition on resource efficiency and circular economy has the potential to transform aspirations into concrete actions. Union Minister Bhupender Yadav said this at the launch of Resource Efficiency Circular Economy Industry Coalition (RECEIC) on the sidelines of the 4th G20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting in Chennai today.

The official launch of RECEIC was through the signing of the foundational charter and the unveiling of the logo. Addressing the gathering, Shri Bhupender Yadav, the Minister of Environment, Forest, and Climate Change, emphasised that RECEIC would play a pivotal role in promoting alliances, encouraging technological cooperation and knowledge transfer, fostering innovation, and facilitating the exchange of insights to enhance access to finance. Further, he acknowledged the commitment of the 39 founding members of RECEIC for stepping forward to join this coalition.

The side event organised to launch the Resource Efficiency and Circular Economy Industry Coalition (RECEIC) was a truly remarkable and significant milestone as the culmination of the dedicated efforts over the past eight to nine months of the ECSWG. The RECEIC, conceptualised by the India’s G20 Presidency is envisaged to be industry driven and a self-sustaining initiative continuing to function even beyond India’s G20 Presidency.

The mission of this coalition is to facilitate and foster greater company-to-company collaboration, build advanced capabilities across sectors and value chains, bring learnings from diverse and global experiences of the coalition members, and unlock on-ground private sector action to enhance resource efficiency and accelerate circular economy transition.

The coalition is structured around the three guiding pillars of partnerships for impact, technology cooperation and finance for scale. Resource efficiency and circular economy industry coalition will also aim to contribute towards progress on key global goals and priorities set by the G20 and other international fora.

In due course of time, RECEIC may be invited to the G20 Resource Efficiency Dialogue, for annual convenings as well as sharing their experiences with the G20 and highlighting success factors to enhance resource efficiency and circular economy. RECEIC will also act as an overarching platform enabling industries to address information gaps and coordination challenges across the G20 members.

The Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting convened in Chennai for the concluding meeting under the India Presidency to discuss the pressing environmental issues and promote global collaboration towards a sustainable and resilient future. The deliberations over the ECSWG meetings have been aimed at sharing knowledge, formulating action plans and direct collaborative efforts towards developing effective strategies and initiatives for a sustainable future and combating climate change.

An early start on the second day of the 4th ECSWG and Environment and Climate Ministers meeting allowed extensive discussions on water resource management, preamble & climate change, resource efficiency and circular economy and blue economy under the environment and climate track. The deliberations were geared contributing towards the draft Ministerial Outcome documents. Following the lunch and the evening tea breaks, the sessions witnessed compelling discussions on the draft Communique, with a shared goal of achieving a conclusive outcome. 

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