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A report says US$6-85 billion will be needed over the next 20 years in four key value streams: plastics, concrete and cement, metals and biological waste to achieve waste management targets across the GCC region. This investment will cover investment in the design, collection, sorting and recycling of these four main waste streams.
According to a new report by The Boston Consulting Group (BCG) in partnership with the World Business Council on Sustainable Development (WBCSD) titled “Recycling in the GCC: Conserving Valuable Resources for a Sustainable Future,” discoveries that Conserving limited resources and minimizing environmental impact will depend on further increasing global and GCC-wide waste collection and recycling targets.
The GCC generates between 10.5 and 130 million tonnes of waste annually, mainly from municipal solid waste (MSW), construction and demolition waste (CDW) and agricultural waste, with the Kingdom of Saudi Arabia (KSA) and the UAE accounting for about 75%.
increase circulation
“Achieving bold goals and increasing circularity in the GCC region will yield multidimensional benefits. In addition to the clear environmental value, the transition to a circular economy is expected to bring benefits related to job creation, economic growth, self-sufficiency and independence from external economic benefits associated with regulatory pressure,” said Shelly Trench, managing director and partner at BCG.
Furthermore, optimizing the cycle could increase GCC GDP by around $9.5-105 billion from the four major waste streams, thereby accelerating economic diversification away from fossil fuel resources. It will increase independence from environmental regulatory pressures on major regional exports.
Circularity also supports economic independence through the recycling of biological waste and imported commodities such as fertilizers.
Create job opportunies
Improving waste recycling is also consistent with environmental and economic benefits, as recycling creates more than 50 times more jobs than landfills and incinerators. Looking ahead, given that the additional waste volume of the four main waste streams is around 255 million tonnes, or 75% of all waste streams in the GCC in 2040, this implies the potential for at least 2-300,000 jobs in the GCC.
“Contributing to these global targets is estimated to be critical, as 80 to 90 percent recycling could save up to 1.5 billion tonnes of CO2 emissions in the GCC by 2040 and help reduce global change warmer, but also by protecting natural water, land and biodiversity. The quality of life in the GCC can also be improved through reduced air pollution and a cleaner, more livable environment,” said BCG Director Stefano Castoldi.
“These targets positively acknowledge the challenges ahead. Considering that it took some G20 countries 20 to 25 years to achieve such high landfill diversion targets from a starting point comparable to today’s GCC, they are ambitious,” Trench concluded. . arab trade news agency
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