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Business News/ Economy / Carbon neutrality: How is India placed?

Carbon neutrality: How is India placed?

While government support is indispensable, corporations too must adopt a forward-thinking vision for sustainability that encompasses not only reducing carbon emissions but also embracing circularity across their value chains

Gorai waste dumpyard in Mumbai Waste PlasticPremium
Gorai waste dumpyard in Mumbai Waste Plastic

In an era grappling with the effects of climate change and environmental degradation, the imperative for businesses to embrace sustainability and pursue carbon neutrality has never been more clear. Yet, achieving these ambitious goals requires more than just corporate commitment; it demands a symbiotic relationship between industry and policymakers. Nowhere is this more apt than in India, where the twin objectives of economic growth and environmental stewardship must harmonize for a sustainable future.

The pathway to carbon neutrality and sustainability in India's circular economy begins with robust governmental support and policy frameworks. Governments must enact legislation and regulations that incentivize sustainable practices while penalizing activities harming the environment. Measures to promote renewable energy adoption, enforcement of stringent emissions standards, and incentivization of eco-friendly packaging and waste management solutions are required now more than ever.

Furthermore, investment in infrastructure for recycling and waste management is paramount. Improved waste collection and segregation systems, recycling facilities, and extended producer responsibility (EPR) programs can facilitate the transition to a circular economy model, making sure that resources are kept in use for as long as possible, maximising their value and minimizing environmental impact.

While government support is indispensable, corporations too must adopt a forward-thinking vision for sustainability that encompasses not only reducing carbon emissions but also embracing circularity across their value chains.

Companies like UFlex Limited has not only managed to provide an efficient solution to recycling multi-layer mixed plastics but have also shown a willingness to share this expertise with the wider industry ensuring that the wider industry reaps the rewards of innovative sustainable practices. Their enzyme-based delamination technology provides a sustainable packaging solution by efficiently segregating layers in aseptic packaging and reintroducing recycled paper into circulation, thereby closing the circular loop. UFlex have managed to demonstrate that sustainable solutions can be both innovative and impactful and has also earned global recognition from the likes of the "Davos Recycling Forum" in 1995.

Plastic packaging, often maligned for its perceived environmental impact, presents a unique opportunity for sustainability. While it may have lower carbon emissions compared to other materials, its poor recyclability undermines its environmental credentials. However, rather than demonizing plastic outright, the focus should be on improving its recyclability and promoting a circular approach to its use.

Project Plastic Fix by UFlex has managed to set a precedent for the circular economy, it aims to create and reinstate the virtue of plastic in the economy but out of the environment by re-defining the way plastic is treated, by extracting more out of plastics in packaging beyond its original use, and even by creating technologies that makes a substantial reduction at source.

As India charts its course toward carbon neutrality and sustainability in a circular economy, the role of both government and corporations is pivotal. By aligning policies, fostering innovation, and embracing collaboration, we can build a future where economic prosperity goes hand in hand with environmental stewardship.

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Published: 25 Feb 2024, 10:10 PM IST
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