Blockchain-driven Sustainability: BEEAH Group, ISWA, and Roland Berger Unite for Global Climate Action
During a significant event, BEEAH Group, the International Solid Waste Association (ISWA), and management consultancy Roland Berger joined forces by signing a Memorandum of Understanding (MoU) to collaboratively establish a global standard for waste recycling.
This pioneering initiative has gained the endorsement of the UAE Ministry of Climate Change and Environment (MoCCaE). Also, the presence of distinguished figures such as Essa Abdulrahman Al Hashmi, Assistant Under-Secretary, Sustainable Communities Sector, and Rahma Alshamsi, Lead – Hard-to-Abate, Energy Transition Team, among others, added significance to the momentous occasion.
The collaborative initiative seeks to establish a universal framework that incentivizes and recognizes recycling efforts on a global scale.
By bridging the gap between sustainability goals and private sector involvement, the platform aims to facilitate the transition towards a circular economy worldwide.
Utilizing blockchain technology, the platform will foster collaboration among different regions and ensure transparency across the entire waste management process. In fact, a dedicated marketplace, slated to be unveiled at the forthcoming 28th United Nations Climate Change Conference (COP28), will serve as a connection point between waste producers and waste management providers.
Participating organizations that engage verified sustainable waste management providers will be rewarded with Voluntary Recycling Credits (VRC).
Through this platform, they will have the ability to transparently track their recycling activities and make meaningful contributions towards their sustainability objectives.
It is worth noting that BEEAH Group has gained recognition for its commitment to zero-waste strategies and the implementation of sustainable technologies. Their efforts in the Middle East have led to significant advancements in waste collection and diversion from landfills.
In partnership with Masdar, BEEAH Group successfully raised the landfill waste diversion rate in Sharjah from 76% to over 90% through the establishment of the Sharjah waste-to-energy plant.
On another note, during COP26 in Glasgow, the UAE announced its Net Zero by 2050 Strategic Initiative, followed by the unveiling of its net-zero pathway at COP27 in Sharm El Sheikh.
The development of the Voluntary Recycling Credits (VRC) standard ahead of COP28 in Dubai aligns with the UAE’s ambitious climate goals and aims to expedite progress towards achieving net-zero targets and fostering a circular economy.
The waste management sector’s potential to mitigate approximately 1.8 Gt (gigatonnes) of CO2 emissions annually, as highlighted by the International Panel on Climate Change (IPCC) in March 2023, underscores the importance of innovative practices within the waste management value chain and reduced reliance on virgin materials like plastic.
Through this collaboration, BEEAH Group’s expertise in waste management and sustainability, ISWA’s proficiency in the circular economy, and Roland Berger’s leadership in developing circular economy solutions for addressing climate change will be combined, fostering a comprehensive and impactful approach.
The partnership is currently developing the standard’s framework and technology. The platform will be revealed at COP28 in Dubai between November 30th and December 12th, 2023.
