‘Circular economy’ fits into India’s renewable energy plans: Finland Minister
India has the potential to lead emerging economies when it comes to renewable energy and sustainable development, Finland’s environment minister Kimmo Tiilikainen told ET. The minister said the way India was moving towards the generation of solar and wind energy could be an example for the developing world and the concept of “circular economy” that promotes reusing and recycling resources was fit for India.
Finland is organising the world’s first circular economy forum in Helsinki from June 5 to 7. The forum presents sustainable development solutions for the world. “A circular economy is, above all, a new kind of model for the generation of economic growth. Finns are at the forefront of this model that is now taking off globally,” Tiilikainen said.
The minister said that during his upcoming trip to India scheduled in October, he will discuss the concept of a circular economy with the Indian government and extend whatever support Finland can.
“We could have an MoU with India as the country best represents how sustainable development should be done with cost saving in the emerging world,” he said. “I like the way your Prime Minister Narendra Modi has committed to the Paris pact and his commitment towards sustainable development and use of alternate resources for energy production,” Tiilikainen said. The minister said that there was a lot of optimism around India when it came to the implementation of circular economy projects. “In Finland, we’re trying to find solutions for growing without killing the resources we have.
We would like India to replicate the same,” he said. “Our economy is inherently linear. We make products out of materials provided by nature, use them and throw and repeat the entire process. We need to create more value and less waste out of the resources we use,” the minister said. He said that because of circular economy, a lot of conventional jobs could be lost but then new jobs would be created.
According to a SITRA research, the Finnish innovation fund that is organising the world circular economy forum, a circular economy could bring estimated net savings of 600 billion euros to European companies.
In Finland alone, circular solutions could provide 2-3 billion euros of added value annually. Tiilikainen said India can have an innovation fund like SITRA to promote circular economy and find solutions for storing the nutrient value of soil, tackle auto waste and electronic waste and reuse them all.
Source:ET
