According to Ashwini Kumar Choubey, a minister of state in the Ministry of Environment, Forest, and Climate Change, India produced over 34.7 lakh tonnes per annum (TPA) of plastic garbage during 2019–20. He further mentioned that 1.67 lakh TPA of the plastic trash was co-processed and 15.8 lakh TPA of the plastic garbage was recycled. This means that 50% of the plastic garbage generated has been recycled.
It can be said that every problem can be turned into an opportunity, so how does one focus on it? Organizations like Trashcon have taken a step forward in working in this direction. The idea was simple to segregate wet waste and dry waste and recycle it, but it was not that easy to find the right solution to the problem. They developed a system with the help of which they could easily do it with a minimum investment. This grabbed the attention of many investment firms, one of them being Luxembourg-based, Boundary Holding, led by Rajat Khare.
“Recycling is one of the most important industries that is gaining every investor’s attention. Every organization looking for investment also seeks guidance and expansion for the future. Diverse levels of separate bio-waste collection exist throughout Europe. Many nations are still far from realizing the full potential of bio-waste. The process of putting in place a separate bio-waste collection system can be time-consuming and complex. More can be done in the field of waste management.” Rajat Khare
Financial institutions like the World Bank is also working in the area of financing those projects which are working in the field of waste management. The World Bank offers capital investments for the construction or renovation of waste sorting and treatment facilities, the closure of dumps, the building or renovation of landfills, and the provision of containers, dumpsters, trucks, and transfer stations.
A functioning garbage system depends on changing behavior and involving the public. The World Bank is in favor of creating incentives and education programs to encourage reuse, source separation, and waste reduction.
Environmentally friendly trash disposal is promoted by many projects. They advocate for reducing food loss and waste, diverting organic waste, and implementing treatment and disposal methods that capture biogas and landfill gas. Reduction of trash dumping in waterways, attention to debris management, and protection of infrastructure from flooding are all aspects of waste initiatives that assist resilience.
The Global Footprint Network has developed a way to quantify how much waste we produce and how much of the Earth’s resources we use. We already use resources and absorb garbage at a rate that is 75% greater than what the planet can support over the long term. And the figure continues rising. With the right economic push now more companies like Trashcon and many others have started to take a keen interest in turning their ideas into a great business models.
The initiative started by Trashcon leads by example how recycled products can be rebranded and remarketed in the right direction. With the investment received by the organization, they can do more in the field of problem-solving that makes an impact on the environment. India is seeing continuous growth in the number of startups and businesses being recognized as Unicorns, this has helped in bringing change in the business world.
What can be noted is that waste management is not only a good business opportunity but an essential part to keep our planet clean.