“Sustainability - Circular & Green Economy Challenges and Opportunities for Tyre & Rubber Industry”

Research at a glance

Over the past decade, the concept of a “green economy” has moved into the mainstream of policy discourses across the world. A green economy takes care of human well-being, social equity and reducing environmental impacts. Therefore, transitioning to a green economy has sound economic and social justification. There is a strong case for governments as well as the private sector to engage in this economic transformation. For governments, this transition would involve levelling the playing field for greener products by replacing harmful subsidies, reforming policies, redirecting public investment etc. In private sector, this transition would involve responding to these policy reforms and incentives through increased financing and investment, skill building and innovation capacities to take advantage of opportunities arising from a green economy. The general perception among the people at large about the manufacturing industry, in particular Tyre & Rubber industry is that they are not environmental friendly, energy inefficient, use non-renewable resources etc. To change this perception tyre & rubber industry has to work towards sustainability, circular & green economy through development of green technology, green manufacturing including Resource decoupling - using less land, water, energy & materials to maintain economic growth and to reduce environmental impact.