The G20 will prioritise the circular economy theme, according to Amitabh Kant

G20 Sherpa Amitabh Kant said that we must look at alternative production and consumption models to achieve sustainable material and economic wellbeing of society . The circular economy is a system solution framework that addresses global challenges such as climate change, biodiversity destruction, waste, and pollution .

New Delhi, India, November 24: Indias G20 Sherpa Amitabh Kant said on Thursday that India's long-term low-emission development strategy for achieving the climate goals and the importance of sustainable production shows that we must look at alternative production and consumption models to achieve sustainable material and economic wellbeing of society.Kant said at the sixth edition of FICCI Circular Economy Symposium 2022 that a greater amount of awareness is being expressed in government, organisations, and corporations.During our G20 presidency, we will put a lot of emphasis on bringing the circular economy agenda to life in order to find common ground on key issues.The G20 offers opportunities by accelerating the circular economy, and FICCI will need to play a key role in many G20 deliberations, he said.

For climate change, a complex mixture of intersectoral cooperation is essential, and a great deal of cross-sectoral collaboration is crucial to facilitate the circular economy.We do our part to ensure that rules do not become burdensome, as well as that there are cross-cutting issues that can be identified and addressed.We will promote it through business models and startups, as well as a circular economy business model.It must be a part of innovation, part of the business model, that everything we produce becomes an input into another thing we produce, he said.Kant stated that the Ministry of Environment and Forests adopted Extended Producers Responsibility for used tires, batteries, and other plastics in 2022.

Climate change and material use are closely connected, according to Kant, because circular economy models prioritize material value retention and cut unnecessary consumption; they can be extremely beneficial in reducing greenhouse gas emissions, he said.FICCI is currently working with NITI Aayog, the European Union, and other industry partners to develop a single national circularity measure system for standardised benchmarking and reporting.Kant said that the proposed framework for Indias Circular Economy measurement could be adopted by other emerging economies as well.Michael Bucki, Counsellor and Head of Section for Sustainable Modernization, Delegation of the European Union of India, said that circular economy can play a key role in boosting productivity and lowering cost, energy, and greenhouse gas emissions.He said that more effective digital business models can improve domestic capabilities and create inclusive global solutions, according to Amit Sinha, Chair of the FICCI National CE Committee and President for Group Strategy, Mahindra & Mahindra.

He said that the circular economy has a huge opportunity and that it can substitute the use-and-throw model.

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