Dubai: Agreement signed to tap $1.3trln global trade of recyclables

Dubai: Agreement signed to tap $1.3trln global trade of recyclables

UAE - An agreement was signed between Global Recycling Foundation and World Sustainable Business Forum (WSBF) at the inaugural Chief Future Officer Forum on Thursday. The pact will not only tap the global trade of recyclables valued at $1.3 trillion dollars, but is also expected to contribute in the sustainable future of technology.

Organisers of the forum held at Dubai’s Museum of the Future added the agreement came at “an opportune time when the UAE is set to host COP 28 later this year, and with 2023 being declared as the Year of Sustainability.”

“The recycling industry is worth US$1.3 trillion and by signing this agreement, we are very optimistic that this will create an awareness on the need to integrate recycling goals in the forthcoming COP28 meet,” noted Ranjit Singh Baxi, founder of Global Recycling Day.

“The agreement, signed in the presence of members of the international recycling federation from US, UK and Europe, sets the road map and enlists deliverables required to integrate this important topic in the collective sustainable goals of the nation and initiate an important dialogue,” added Baxi, noting: “the country is moving towards the goal of net zero carbon emission by 2050.”

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