Dubai: Agreement Signed To Tap $1.3trln Global Trade Of Recyclables

Agreement of $1.3 trillion Trade of Recyclable For A Better Future

The Global Recycling Foundation and World Sustainable Business Forum (WSBF) have signed an agreement to tap into the $1.3 trillion global trade of recyclables while also contributing to the sustainable future of technology.

The agreement was signed at the inaugural Chief Future Officer Forum in Dubai, ahead of the United Nations Framework Convention on Climate Change (COP28) meeting that the UAE is set to host later this year. The deal is expected to create awareness about the need to integrate recycling goals into the forthcoming COP28 meeting and contribute to the country’s sustainable goals in the Year of Sustainability.

The agreement sets a roadmap and enlists deliverables required to integrate the important topic into the collective sustainable goals of the nation and initiate an important dialogue. Organisers of the forum added that the country is moving towards the goal of net zero carbon emissions by 2050.

Forum For A Greener Economy

The forum also looked at the UAE’s projections for a greener circular economy, with particular focus on the consumption of materials, water, and energy, as well as the reuse and recycling of materials, nutrients, and water.

The responsible use of technology was also discussed, with industry leaders emphasising the importance of data privacy, security, and ethics in the future, particularly as machines and technology become more integrated into our daily lives.

The UAE Circular Economy Council had earlier convened a meeting underscoring climate action and sustainability, with officials highlighting the country's ability to adopt innovative approaches in the circular economy to reduce greenhouse gas emissions as one of the priority elements that must be emphasised in 2023 for a successful COP28.

The Chief Future Officer Forum also discussed national digital transformation using AI and big data. Talal Al Kaissi, CEO of G42 Cloud, spoke about data ownership and security, noting that industries trying to leverage AI must have proprietary data that must be protected the same way national data is protected. Enterprises and governments have a big role in securing data as the world moves towards a future driven largely by technology.