Circular Economy Policy Committee Explores Means To Promote Circular Economy Practices Within Private Sector

ABU DHABI, (UrduPoint / Pakistan Point News / WAM – 11th Sep, 2023) The policy committee of the UAE Circular Economy Council held its third meeting for the year 2023, chaired by Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the UAE Circular Economy Council.

The meeting reviewed progress made in the implementation of the objectives of the UAE Circular Economy Agenda 2031, as well as the means to strengthen circular economy practices within the private sector.

Al Marri said, “The UAE is steadily moving towards a new economic model based on knowledge and innovation. The circular economy is one of its key pillars, with economic and development benefits consistent with the country’s strategies aimed at consolidating the UAE’s status as a global economic hub teeming with opportunities for growth and prosperity and doubling the GDP in the light of the ‘We the UAE 2031’ vision.”

The Committee meeting also discussed the acceleration of the implementation of the country’s Circular Economy strategy in four key sectors, which are: manufacturing, food, infrastructure and transport, within the framework of the 22 policies adopted by the UAE Circular Economy Council in 2022.

The meeting also discussed the UAE’s circular trade strategy and the means to strengthen circular economy practices within the private sector, including SMEs and startups, which is one of the main objectives of the UAE Circular Economy Agenda. This is key to promoting sustainable economic growth and creating more jobs in the local market.

During the meeting, the results of the Roland Berger’s Global Strategic Management Study, supported by Emirates Global Aluminium and the UAE Aluminium Recycling Coalition, were reviewed to assess the status of aluminum cans’ recycling in six Asian countries: the UAE, Australia, South Korea, Thailand, Vietnam and Cambodia.

It further explored the means to leverage the study results to strengthen the UAE‘s position as a global leader supportive of international efforts in the field of green development and the recycling of aluminum cans.

The meeting was attended by representatives of the Committee’s member bodies from Federal and local governments, representatives of academic institutions and leading national and international companies specializing in sustainability and circular economy activities. These include Aisha Al Abdouli, Acting Assistant Under-Secretary of the Ministry of Climate Change and the Environment for the green development and climate change sector and Vice Chairman of the Committee; Fatima Ghanem Al Hajri, Head of Investment and Talent at the Ministry of Economy; Samah AlHajeri, Director of Cooperatives and 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 adopted the UAE Circular Economy Agenda 2031, which represents a general framework for the implementation of the country’s agenda in the field of circular economy. The agenda included the development of 22 policies, and the policy committee is the first permanent committee of the UAE Circular Economy Council. It takes on several tasks to support national efforts to implement the circular economy policy, including study and assessment of the challenges to the implementation of the circular economy, and proposes appropriate policies. Furthermore, the committee studies initiatives and projects that contribute to accelerating the shift towards this vital economic model, and submits its recommendations to the UAE Circular Economy Council.