MED TEST II contributes to the G20 Resource Efficiency Dialogue
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Acknowledging that an efficient and sustainable use of natural resources is vital for implementing the Sustainable Development Goals, the G20 has joined efforts to establish a dialogue on best practices of how to achieve a resource-efficient and sustainable global economy. Roberta de Palma, Chief Technical Advisor from UNIDO, presented the many benefits for the environment, climate, health, jobs and sustainable economic growth that resource efficiency yields, revealing initial results and success stories from the ongoing EU funded SwitchMed - MED TEST II project.
Early results from the MED TEST II project indicate that SMEs can reduce 2% of total company expenditures if they apply more resource efficient production practices. This would enable companies in developing and emerging economies to counterbalance the rising costs of energy, water, and raw materials with investments that in some cases pay back within a year. For instance, a Tunisian jeans producer, managed with an investment in an eco-innovative technology to save 46% of their water consumption, 26% of their energy costs, and 1% in their appliance of chemicals, saving 360 000 euros annually. This shows that investing in resource efficiency is not only a good investment for the business, but also for the environment.
“Exchanging experience and knowledge on resource-efficient solutions from the MED TEST IIproject,highlights the potential of RECP as a tool that combines economic growth, innovation and environmental benefits for businesses in emerging economies.”
Roberta de Palma, MED TEST II Chief Technical Advisor, UNIDO
Although, there is a convincing business case for investments in resource efficiency and eco innovative production solutions, the experience from the SwitchMed programme have revealed that there still is a need to support developing economies in the transition towards resource efficient and cleaner production practices – especially SMEs. The G20 group, together with UNIDO, will continue to play a crucial role in bringing together developed and emerging market economies, sharing best practices of how to seize the many opportunities of a resource efficient and cleaner production that eventually would enable the creation of resilient industries, job creation and a balanced and inclusive growth.
Click here to get a view on the preliminary results from MED TEST II