Maruti, Tata, HP, Coca-Cola and 35 other firms to launch 'RECEIC' a global, industry-led coalition

The fourth and final meeting of the G20 Environment & Climate Sustainability Working Group (ECSWG) meeting commenced on Wednesday, in Chennai city. Delegates from most G20 nations, nine guest nations and 12 International and regional organisations are in attendance.

According to Richa Sharma, Additional Secretary of India's Ministry of Environment, Forests and Climate Change, the key focus areas of this group would beland degradation, ecosystem restoration, biodiversity & water resources, sustainable & resilient ocean-based economy, resource efficiency & circular economy.

The previous meetings of this working group were held in Bengaluru, Gandhinagar and Mumbai.

"In Bengaluru, we agreed upon the broader themes of discussion. In Gandhinagar, we emphasised upon integrated water resources management and other priorities. In Mumbai, we focussed on science & technology, innovation, policy, governance etc.," Richa Sharma said.

A highlight of the ongoing ECSWG meeting will be the launch of the Resource Efficiency Circular Economy Industry Coalition (RECEIC), on Thursday. The RECEIC is being formed with the objective of bring together nations, industries and experts in their endeavour to take forward the global circularity agenda. 39 firms from across industries will be the founding members of this coalition.

The annual Global Circularity Gap Report, published by Circle Economy in collaboration with Deloitte, warns the global economy is now only 7.2 per cent circular.

“A global circular economy,” it argues, “will allow us to fulfil people’s needs with only 70 per cent of the materials we now extract and use,” within the safe planetary limits. According to senior officials from India's Environment Ministry (MoEFCC), 'RECEIC' will be an industry-led coalition, for which the governments would play a supportive role.

The coalition would include multi-national firms from a wide-range of sectors, including steel, FMCG, beverages, electronics, IT, automobile, manufacturing, etc. Aditya Birla Group, Coca-Cola, HP Inc, Nestle India, Oppo, Siemens Ltd, Unilever, Maruti Suzuki India, Tata Motors are among the 39 firms that will be part of this coalition.

Further, there will be a meeting of Ministers from G20 and invited nations, on Friday, which would feature keynote addresses by experts in the field of climate change, discussions between the Environment and Climate Change Minister from G20 nations, followed by the adoption of the High Level Principles Document. The Ministerial meeting would be presided over by Bhupender Yadav, India's Minister for Environment, Forest and Climate Change. The ministers' meeting would conclude with the release of the Outcome and Presidency documents.

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