According to a report released at UNEA-6, resource use has tripled over the last 50 years and is expected to increase by 60 per cent by 2060. The good news, said experts, is that humanity can reduce resource use while creating jobs and growing the economy by transitioning to circular economy approaches.

That issue was the focus of a discussion at UNEA-6 hosted by the governments of Morocco, Costa Rica, Peru and Rwanda together with GACERE, the Circular Economy Coalition for Latin America and the Caribbean, the African Circular Economy Alliance and CIRCULAR STEP. Robust institutions and regulations are essential to enable the meaningful implementation of circular economy strategies by governments and other stakeholders, experts said at UNEA-6. These need to be backed by solid financing and investment plans, and by directing financial flows to pro-circular economy measures.

Speakers from the World Bank, the African Development Bank, the European Investment Bank, and the UNEP-Finance Initiative (UNEP-FI) outlined their commitments to supporting the transition to circular economies. They emphasized the importance of subsidies, green finance initiatives, small and medium enterprise (SME) involvement, and public-private partnerships to driving progress. Speakers concluded by emphasizing the need for continued collaboration. They highlighted that an international legally binding instrument on plastic pollution, now being negotiated, represents a significant step toward realizing circularity goals globally.

Source: UNEP

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