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The Arab Monetary Fund (AMF) said in a study that regulatory laws and legislation are needed to create and facilitate the implementation of a circular economy (CE) and prevent the waste of natural resources in the region.
To achieve sustainable development and a green economy in Arab countries, strategies need to be integrated into government economic policies and frameworks.
The AMF study on “Achieving a Circular Economy in the Arab Region: Development of a Transformational Measure” shows that this process can be facilitated by drawing on international experience.
index
The study aimed to establish an index to measure CE. The index is based on globally recognized CE indicators and can be used to measure countries’ transition to a circular economy.
Based on the recommended index developed by the study, policymakers and stakeholders can determine the level of dissemination of CE implementation in countries, adopt policies to reduce natural resource waste, and conduct CE-related activities that support the achievement of economic, environmental, and social sustainability, and increase the added value of the Arab economies.
CE indicators should be developed at the micro, meso and macro levels, reflecting all aspects of our economy and our lives. Develop a monitoring framework for CE in the Arab region and establish a CE stakeholder platform to exchange experiences and relevant knowledge.
Recycled content
The standards and methods of recycling content, recyclability and reparability in the Arab region shall be formulated in accordance with the CE standards of developed countries.
Develop policies and incentives to encourage the consumption of recyclable products and services in the region.
Change production and consumption patterns to harness renewable energy in line with climate and environmental changes.
Through media outreach and education, public awareness of the need for CE and environmentally friendly policies can be raised. A CE database should be established to determine the speed of transition from linear economies to CE in the Arab region. arab trade news agency
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