IE Seminar – Closing the loop through circularity

IE gathered experts to deliberate on the topic of closing the loop through circularity. It highlighted the need and impact that circular economy will create on businesses.

Listen to this article

Training for green jobs must be expedited

– Dr Mushtaq Ahmed Memon, Regional Coordinator, UNEP, Asia Pacific Regional Office

Green economy serves as a pivotal tool in advancing the implementation of sustainable development goals, addressing issues ranging from poverty and job creation to hunger, sustainable food systems, circular economies, health, and sustainable consumption and production. The United Nations Environment Program spearheads efforts in these areas, recognising the significance of transitioning to a circular economy to achieve these goals.

Disparity in resource efficiency across countries

In the Asia Pacific region, it’s striking to note that despite accounting for 50 per cent of global resource consumption, the region generates only 32 per cent of the global GDP. This highlights a significant disparity in resource utilisation and economic output among countries in this region.

Resource efficiency also varies across economies. For instance, in Japan, a mere 0.25 kilograms of natural resource is required to generate an additional dollar in the economy, while in Mongolia, this figure exceeds 15 kilograms due to heavy reliance on the mining sector. This discrepancy underscores the importance of resource efficiency not only for fostering economic growth but also for promoting social equity. In this context, the circular economy emerges as a crucial framework for optimising resource use, enhancing economic productivity and achieving greater social and environmental balance.

Skilled professionals in demand for green jobs
Many corporations are shifting towards Environmental, Social, and Governance (ESG) practices, necessitating a surge in demand for skilled professionals. This includes hiring sustainability officers and pollution management experts, as well as individuals proficient in emerging technologies.

National targets for achieving net-zero emissions by countries require significant shifts in technology, business models, policies and public awareness. This necessitates a workforce with expertise in green skills and governments must develop and enforce relevant regulations.

Efforts must focus on the educational institutions and training programmes. However, transforming educational institutions requires substantial time and resources. Providing training for professors and educators is crucial to keep pace with evolving knowledge and technologies. Industry and government must come forward to expedite this transition.

To effectively achieve ESG, net-zero and renewable energy targets, it is essential to align a country’s action plan with the development of green jobs and circular economy initiatives. This would ensure a skilled workforce capable of driving sustainable economic growth.

Latest

Industrial Economist – End of an Epoch

Industrial Economist was founded with a vision to not...

India will be $ 55 trillion economy by 2047 – Krishnamurthy Subramanian, former CEA

Krishnamurthy Subramanian, Executive Director at the International Monetary Fund...

Swelect to invest Rs 500 crore for expansion and cell manufacturing

This will allow the company to cater on a...

A survey of startups in Tamil Nadu

“In the past five months, we’ve actively helped startups...

Newsletter

Don't miss

Industrial Economist – End of an Epoch

Industrial Economist was founded with a vision to not...

India will be $ 55 trillion economy by 2047 – Krishnamurthy Subramanian, former CEA

Krishnamurthy Subramanian, Executive Director at the International Monetary Fund...

Swelect to invest Rs 500 crore for expansion and cell manufacturing

This will allow the company to cater on a...

A survey of startups in Tamil Nadu

“In the past five months, we’ve actively helped startups...

Super Auto Forge: Crafting Precision for 50 years…

A Golden Forge For the fiscal year, SAF registered a...

Industrial Economist – End of an Epoch

Industrial Economist was founded with a vision to not only report on the economic landscape but also to contribute meaningfully to the discourse shaping...

India will be $ 55 trillion economy by 2047 – Krishnamurthy Subramanian, former CEA

Krishnamurthy Subramanian, Executive Director at the International Monetary Fund and the former Chief Economic Advisor, GoI, launched his book India@100: Envisioning tomorrow’s economic power...

Swelect to invest Rs 500 crore for expansion and cell manufacturing

This will allow the company to cater on a global scale as also facilitate backward integration in the value chain. The expansion is expected...