Union Minister launches Resource Efficiency Circular Economy Industry Alliance in Chennai

Tags: Summits

Union Minister Bhupendra Yadav launched the Resource Efficiency Circular Economy Industry Coalition (RECEIC) during the 4th G20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers' Meeting in Chennai.

An Overview of the News

• The official launch included the signing of the Basic Charter and the unveiling of the alliance's logo.

• The minister acknowledged the commitment of the 39 founding members of RECEIC to join this alliance.

• The alliance, envisioned by India's G20 Presidency, is envisaged to be industry-driven and self-reliant even beyond India's G20 Presidency.

• RECEIC's mission is to foster company-to-company collaboration and build advanced capabilities across diverse sectors and value chains, and to bring together the global experiences of alliance members to enhance resource efficiency and accelerate the circular economy transition.

• RECEIC is structured around three guiding pillars: partnerships for impact, technology collaboration and finance for scale.

• The Alliance aims to contribute to progress on key global goals and priorities set by the G20 and other international fora.

• RECEIC will act as a comprehensive platform that will enable industries to address information gaps and coordination challenges among G20 members.

• The objective of the meeting was to formulate an action plan and direct collaborative efforts towards developing effective strategies and initiatives for a sustainable future and combating climate change.