The Acceleration Circular Economy Initiative is a consultancy service initiative for factories in industrial cities and one of the initiatives aimed at stimulating local industry, launched by the Ministry of Industry and Mineral Resources in the Kingdom of Saudi Arabia. The initiative aims to enable factories to adopt the concept of a circular economy, enhance the utilization of natural resources in manufacturing, and increase the efficiency of manufacturing processes by adopting modern technologies that contribute to waste reduction and recycling.
Objectives of the Acceleration Circular Economy Initiative
The Acceleration Circular Economy Initiative aims to create a new industrial environment based on the outputs of the circular economy, which is centered on reusing and recycling materials while maintaining the sustainability of natural resources. It also seeks to reduce operational costs in industrial processes, provide technical consultations to factories, and create opportunities for recycling waste generated by these factories. This initiative is designed to enhance economic growth, increase competitiveness, and foster innovation, all while reducing environmental pressure and creating new job opportunities.
Beneficiaries of the Acceleration Circular Economy Initiative
The Acceleration Circular Economy Initiative targets factories operating under the supervision of the Saudi Authority for Industrial Cities and Technology Zones "MODON" in specific industrial cities. These include: Riyadh Second Industrial City, Sudair City for Industry and Business, al-Kharj Industrial City, Qassim First Industrial City, Hail Industrial City, Jeddah First, Second, and Third Industrial Cities, Makkah al-Mukarramah First Industrial City, al-Madinah al-Munawwarah Industrial City, and Aseer Industrial City.
Targets of the Acceleration Circular Economy Initiative
The initiative aims to implement the concept of a circular economy in eighty factories over two years, focusing on the central and western sectors. This aligns with the goals of the national economic transformation and the Saudi Green Initiative's target of achieving net-zero carbon emissions by 2060. The initiative also aims to divert approximately 94 percent of waste and recycle waste related to energy and carbon-based products.
The initiative provides beneficiary factories with a technical guide prepared by the Saudi Authority for Industrial Cities and Technology Zones (MODON) for each factory, through which plans for implementing the circular economy are developed. The initiative also offers workshops to raise awareness about reducing consumption, improving operational efficiency, and building partnerships with other factories for material exchange. Additionally, each factory is given a detailed report on its condition following an environmental study conducted through field visits to the targeted factories and the collection of necessary data, along with the development of a platform for waste exchange.
Related quizzes
