Union Minister launches Resource Efficiency Circular Economy Industry Coalition in Chennai

Source: The post is based on the article “Union Minister launches Resource Efficiency Circular Economy Industry Coalition in Chennai”  published in PIB on 27th July 2023.

What is the News?

The Union Minister of Environment, Forest and Climate Change has launched a Resource Efficiency Circular Economy Industry Coalition (RECEIC).

It was launched on the sidelines of the 4th environment and climate sustainability working group meeting and ministerial talks taking place in Chennai, Tamil Nadu.

What is the Resource Efficiency Circular Economy Industry Coalition (RECEIC)?

Resource Efficiency Circular Economy Industry Coalition (RECEIC) was conceived during India’s G20 Presidency.

Purpose: It is an industry-led initiative that aims to promote resource efficiency and circular economy practices. 

Aim: 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.

Pillars: The Coalition is structured around the three guiding pillars of 1) partnerships for impact 2) technology cooperation and 3) finance for scale.

Members: The Coalition has founding members representing 39 companies from 11 countries. Some of the founding members include companies like Maruti Suzuki, Coca Cola, Unilever, Nestle, Aditya Birla Group, Tata Power and Mahindra & Mahindra.

Significant role to be played by Coalition: 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.