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Friday, May 17, 2024
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UAE promotes circular economy in private sector, including SMEs

The UAE Circular Economy Council’s policy committee, chaired by Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Circular Economy Council, convened its third meeting in 2023. The meeting assessed progress in achieving the goals of the UAE Circular Economy Agenda 2031 and explored ways to enhance circular economy practices in the private sector.

Bin Touq stated, “The UAE is progressing towards a knowledge and innovation-based economic model. The circular economy is a key pillar, aligning with our strategies to strengthen the UAE’s global economic status, foster growth and prosperity, and double GDP as per the ‘We the UAE 2031’ vision.”

The committee discussed the acceleration of the UAE’s circular economy strategy in manufacturing, food, infrastructure, and transport, within the framework of the 22 policies adopted by the UAE Circular Economy Council in 2022. They also deliberated on the UAE’s circular trade strategy and methods to promote circular economy practices among SMEs and startups, supporting sustainable economic growth and job creation.

During the meeting, the results of Roland Berger’s Global Strategic Management Study were reviewed. Supported by Emirates Global Aluminium and the UAE Aluminium Recycling Coalition, the study assessed aluminium can recycling in six Asian countries and explored opportunities to enhance the UAE’s leadership in green development and aluminium can recycling globally.

Representatives from federal and local governments, academic institutions, and national and international sustainability and circular economy companies attended the meeting. Notable attendees included Eng. Aisha Al Abdouli, Acting Assistant Undersecretary of the Ministry of Climate Change and Environment; Fatima Ghanem Al-Hajri, Head of Investment and Talent at the Ministry of Economy; Samah AlHajeri, Director of Cooperatives & Strategic Reserve at the Ministry of Economy; Miranda Schnetger, representative of Ellen MacArthur; and Dr. Ki Wong from the World Resources Institute.

In March 2023, the UAE Cabinet approved the UAE Circular Economy Agenda 2031, outlining the country’s circular economy initiatives. The policy committee, as the first permanent committee of the UAE Circular Economy Council, plays a pivotal role in supporting national efforts to implement circular economy policies, addressing challenges, and recommending suitable policies and initiatives to accelerate the transition to this economic model.

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