Chennai: In a shot in the arm for India's G20 Presidency, 39 global corporate giants, including Coca Cola and Maruti Suzuki, have forged a coalition to boost circular economy at the G20 environment and climate ministers summit in Chennai.
These global players from eleven sectors, founders say, would use only renewable energy for their industries and accelerate reuse, recycle and upcycle for efficient use of resources and cut on emissions.
For instance, the cement industry would use fly ash generated by power plants and slag dumped by steel companies.
"Fly ash from power plants is a big pollutant. When we use it we reduce extraction of limestone, we save on fuel, we save on energy. It's not just in cement industry. This is done in all industries," Mahendra Singhi, MD & CEO, Dalmia Cement told NDTV.
The textile industry hopes to reduce used or discarded clothing or fabric going to landfills.
Dr Naresh Tyagi, Chief Sustainability Officer, Aditya Birla Fashion & Retail Ltd said this would bring about resource mobilisation efficiently at both pre and post-consumer stages.
Asked how clothes or textile would be made part of the circular economy, he said: "If the used clothes are good and wearable, we give to someone who can reuse or use them more. Second, we can recycle a bulk of used materials to make rugs, blankets etc. Third, we also upcycle them to use them in making new outfits."
The target is to rope in at least a hundred more corporates in two years and bring about larger collaboration, best practices and innovation into this independent movement.
"Reuse, recycle and reproduce is the thing. We will work for the future prosperity of the country and it's the need of the world," said environment minister Bhupender Yadav, adding circular economy model enables the transition from the linear "take-make-waste" paradigm and embrace a more sustainable and regenerative approach.
However, with consensus eluding at the summit, India showcased the industry coalition to boost circular economy as a significant win during its G20 presidency. The progress of this initiative will be closely watched.