WEBVTT

00:00:09.280 --> 00:00:12.440
We’re moving beyond take, make, waste

00:00:12.440 --> 00:00:15.480
to an economy that renews the value of its resources

00:00:15.480 --> 00:00:17.000
over and over again.

00:00:17.000 --> 00:00:19.200
GCC countries prospered

00:00:19.200 --> 00:00:24.120
from decades of economic population
and societal growth.

00:00:24.200 --> 00:00:26.480
But while the region's potential

00:00:26.480 --> 00:00:29.720
may seem limitless, its resources are finite,

00:00:29.800 --> 00:00:33.600
constituting a serious constraint
for this growth to continue.

00:00:33.600 --> 00:00:37.520
By minimizing consumption
and maximizing resource value,

00:00:37.600 --> 00:00:41.360
a circular economy overcomes
this limitation, opens

00:00:41.360 --> 00:00:44.360
meaningful business opportunities
throughout the value cycle,

00:00:44.560 --> 00:00:49.520
and protects our environment
from both depletion and pollution.

00:00:49.600 --> 00:00:54.720
We begin with reducing the superfluous
use and waste, then giving materials

00:00:54.720 --> 00:00:58.680
a second, third, fourth life
whenever possible

00:00:58.680 --> 00:01:02.240
to reuse and recycle.

00:01:02.320 --> 00:01:06.320
There is already momentum
toward circularity from the GCC,

00:01:06.320 --> 00:01:11.360
both in line with the global race toward
sustainability and as a key component

00:01:11.360 --> 00:01:16.280
of diversifying the economy away from oil,
including ambitious targets

00:01:16.280 --> 00:01:19.760
aiming to greatly accelerate
what has been achieved

00:01:19.760 --> 00:01:22.120
by other developed countries
to this point.

00:01:22.120 --> 00:01:25.360
GCC governments and companies are investing

00:01:25.360 --> 00:01:28.760
in increasingly innovative
and effective solutions for this aim.

00:01:28.800 --> 00:01:34.160
But more must be done to avoid continuing
to overshoot our planetary boundaries.

00:01:34.160 --> 00:01:38.120
Considering the bold growth
agendas of GCC countries,

00:01:38.120 --> 00:01:41.320
high and growing waste
generation is a serious concern

00:01:41.320 --> 00:01:45.680
for this region, particularly focusing
on concrete and cement,

00:01:45.680 --> 00:01:50.240
plastic, metal, and bio-waste material streams

00:01:50.240 --> 00:01:54.840
driven by the construction and agriculture
industries and by our communities.

00:01:55.040 --> 00:01:59.440
As it stands today, effective waste
collection across those material streams

00:01:59.440 --> 00:02:04.280
is approximately 60% globally,
and in the vast majority of cases,

00:02:04.280 --> 00:02:07.120
waste collection is not properly sorted,

00:02:07.120 --> 00:02:10.520
leading to recycling rates below 20%.

00:02:10.520 --> 00:02:15.200
But to sustain renewable resources
and prolong access to finite ones,

00:02:15.400 --> 00:02:20.480
by 2040, we need a global
recycling rate of 80 to 90%.

00:02:20.560 --> 00:02:23.800
That ambition is possible for the GCC.

00:02:23.800 --> 00:02:28.360
It will take significant investment
roughly $130 billion

00:02:28.360 --> 00:02:32.280
over the next 20 years,
and also a coordinated effort

00:02:32.280 --> 00:02:35.560
throughout the value cycle,
led by government ministries

00:02:35.560 --> 00:02:41.240
and waste managers and joined by energy,
industrial and commercial players.

00:02:41.240 --> 00:02:43.320
seizing the opportunities upstream.

00:02:43.440 --> 00:02:44.960
It's a bold plan,

00:02:44.960 --> 00:02:49.400
but this collective action
would have an enormous and critical impact

00:02:49.400 --> 00:02:52.840
increasing GDP by $100 billion,

00:02:52.840 --> 00:02:55.720
creating more than 200,000 jobs

00:02:55.720 --> 00:03:00.080
and generating expansive opportunities
for the region's economy

00:03:00.080 --> 00:03:04.360
to diversify and become self-sufficient
while continuing to grow.

00:03:04.360 --> 00:03:08.320
It would also substantially improve
the quality of life in the present

00:03:08.320 --> 00:03:11.200
secure, finite resources for the future,

00:03:11.200 --> 00:03:16.000
and of course, protect
our one and only planet.

00:03:16.080 --> 00:03:18.080
Net Zero isn't our target;

00:03:18.080 --> 00:03:19.880
It's our launchpad.

00:03:19.880 --> 00:03:21.280
We're driving beyond zero

00:03:21.280 --> 00:03:24.760
in the GCC, by harnessing
the power of a circular economy.