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Resource Efficiency Circular Economy Industry Coalition

GS Paper III Indian Economy

Context:

The Resource Efficiency Circular Economy Industry Coalition (RECEIC) has been launched on the sidelines of the 4th G20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting held in Chennai.

About the RECEIC:

39 multinational corporations (MNCs) from various sectors came together to pledge to adopt resource efficiency and circular economy principles to address environmental challenges rising from waste, including plastics, microplastics, e-waste, and chemical waste.

Significance:

Accessing Finance: RECEIC would promote alliances, technological cooperation, knowledge transfer, innovation, and knowledge sharing to improve access to finance.
Fostering cooperation and coordination: RECEIC will serve as a broad platform that enables industries to address knowledge gaps and coordination issues among G20 members.

News Source: PIB

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