Sharjah: BEEAH Group, the International Solid Waste Association (ISWA), and management consultancy Roland Berger have joined to develop a global standard for waste recycling. In a significant step towards this goal, the organizations have signed a Memorandum of Understanding (MoU), with the initiative gaining endorsement from the UAE Ministry of Climate Change and Environment (MoCCaE).
The collaborative effort aims to bridge the gap between the global sustainability agenda and the private sector by establishing a global market-based incentive scheme and standard measure for recycling recognition and rewards. By leveraging blockchain technology, the platform will ensure transparency across the waste management value chain and enable collaboration between jurisdictions.
The forthcoming 28th United Nations Climate Change Conference (COP28) will see the unveiling of a dedicated marketplace that connects waste producers with sustainable waste management providers. Waste recycling organizations that work with verified providers will receive Voluntary Recycling Credits (VRC), enabling them to transparently track recycling activities and contribute to their sustainability targets.
Mr. Khaled Al Huraimel, Group CEO of BEEAH Group, emphasized the significance of waste management in achieving the UAE’s Net Zero by 2050 Strategic Initiative and broader sustainability goals. The CEO expressed pride in collaborating with MoCCaE, ISWA, and Roland Berger to develop the VRC platform, which will incentivize recycling and promote the circular economy, both within the UAE and globally.
The waste management sector’s potential to mitigate 1.8 Gt (gigatonnes) of CO2 emissions annually, as highlighted by the International Panel on Climate Change (IPCC), underscores the importance of innovations in waste management and reduced reliance on virgin materials. In line with this, Mr. Carlos RV Silva, President of ISWA, announced a new global initiative supported by the UAE, BEEAH, and Roland Berger, aiming to link discussions on plastic pollution with climate change negotiations at INC-2 in Paris and COP28 in Dubai.
The partnership brings together BEEAH Group’s expertise in waste management and sustainability, ISWA’s competence in the circular economy, and Roland Berger’s leadership in developing circular economy solutions to address climate change. Mr. Hani Tohme, Managing Partner at Roland Berger Dubai, highlighted the waste management sector’s potential to reduce carbon emissions and establish a self-sustaining financing system for global recycling infrastructure.
The coalition is currently developing the framework and technology for the standard, with the platform set to be revealed at COP28 in Dubai from November 30th to December 12th, 2023. This initiative underscores the commitment of these organizations to contribute significantly to the Paris Agreement and accelerate progress towards net-zero targets and the circular economy.