More Technology Advancement – more e-waste generation:
In today's world, being technologically advanced is essential for a country's growth. However, with advancements in technology comes the generation of more e-waste, which is hazardous to the environment. To move towards a circular economy, it is imperative to focus more on sustainability and re-usability of existing electrical devices, rather than outright purchasing new electronics.
Electronic products should be designed to promote recycling, repurposing, and reuse while minimizing e-waste generation. For example, when facing issues with a laptop, it is better to consider getting it fixed rather than buying a new one. This change of mindset would promote a circular economy and a healthy planet by reducing e-waste generation.
Steps must be taken to address the issue of e-waste and promote sustainability. A shift towards a circular economy would enable us to use resources more efficiently and effectively, reduce waste, and protect the environment. By promoting a culture of repair, reuse, and recycle, we can create a better future for ourselves and generations to come.
Rules & Regulations:
The Indian Government has already formulated rules such as the Environment (Protection) Act, 1986, E-waste (Management and Handling) Rules, 2011, and E-waste (Management) Rules, 2016, which have now been superseded by the E-waste (Management) Rules, 2022, effective from 01.04.2023. These rules aim to ensure proper e-waste management and disposal.
The new rules include the development of an online portal for filing, reporting, and registration, environmental compensation for damage caused to the environment, the constitution of a Steering Committee for rules implementation, and a new Extended Responsibility of Producers regime that emphasizes achieving annual e-waste recycling targets instead of annual e-waste collection targets.
These steps reflect the Government's intention to move India towards becoming a globally ESG compliant country, at par with other countries. E-waste regulations would impose more responsibilities on manufacturers, producers, refurbishers, and recyclers to ensure proper e-waste disposal, leading to comparatively lesser damage to the environment and better ESG (Environmental-Social-Governance) compliance.
These rules demonstrate the Indian Government's commitment to promoting sustainability and protecting the environment, and encourage businesses to adopt responsible e-waste management practices. By complying with these regulations, India can become a leader in sustainable practices, reduce its environmental impact, and ensure a better future for generations to come.
E-waste and ESG matrix:
The use of resources and waste management disclosures by companies to various stakeholders forms a necessary part of ESG framework and addresses the global concerns about increase in waste generation and its fearful impact on the society, environment and economy.
Minimizing all types of waste, be it e-waste, biodegradable, non-biodegradable, domestic, commercial, industrial, agricultural, etc., is crucial to minimize environmental risks and becomes a necessary part of the ESG matrix.
Implementing effective waste management practices can not only protect the environment and society but also create economic benefits such as reduced resource usage, lower operating costs, and increased efficiency. Proper waste management can also promote sustainability and attract more investors and customers who prioritize environmental and social responsibility.
Therefore, businesses should incorporate waste management practices into their ESG framework and adopt sustainable business practices to ensure a better future for the planet and society as a whole
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