It will take $60-85 billion invested across four key value streams, plastic, concrete & cement, metal, and bio-waste over the next 20 years to meet targets throughout the GCC region, according to a new report by Boston Consulting Group (BCG) in collaboration with the World Business Council for Sustainable Development (WBCSD).
This investment would cover design, collection, sorting, and recycling investment across these four key waste streams, the study says.Â
The analysis observes that deals in this regard soared in volume and value in 2019.Â
The GCC generates between 105 and 130 million tons of waste per annum, primarily from Municipal Solid Waste (MSW), Construction and Demolition Waste (CDW), and agricultural waste, with Saudi and the UAE accounting for approximately 75 percent.
The report further highlights that optimizing circularity can moreover increase GDP by approximately $95 -105 billion across the GCC from the four key waste streams, and therefore accelerate economic diversification away from fossil fuel resources. It will increase independence from environmental regulatory pressures on key regional export goods. Circularity also supports economic independence from imported goods such as fertilizer through bio-waste recycling.
