Expert Calls for Urgent Shift to Circular Economy at Green Economy and Sustainable Development Forum
During the discussions at the Green Economy, Responsible Finance, and Sustainable Development forum, held on October 24-25 at the UTICA headquarters, economist and professor at the Tunis Business School, Maher Gassab, highlighted the lack of reflection on essential issues such as the environment and sustainability in current debates.
Gassab emphasized that the global circularity rate is alarming, illustrating the growing inability to manage resources responsibly, despite exponential consumption growth. This contrast between sustainability discourse and reality underscores the urgency for clarifying concepts and better integrating these notions into economic policies, according to the expert.
The economist stressed that transitioning to a circular model should not be considered an option, but an imperative necessity for building a sustainable future. Gassab believes that promising avenues exist to improve the circularity rate, including better communication and adequate incentives.
He also highlighted the importance of establishing reliable indicators to track progress, noting that a recent survey revealed that current laws constitute a major obstacle. Businesses, particularly those that export, are willing to adopt more advanced recycling practices but are hindered by legislative barriers. The regulatory framework must go beyond mere encouragement to establish incentivizing obligations, insists Gassab.
It is crucial, according to Gassab, that businesses consider the return on investment of their sustainability initiatives, while integrating regulatory dimensions to facilitate the adoption of new models. Increased transparency in carbon emissions could encourage businesses to measure and declare their environmental impact, thereby integrating these elements into their financial strategy, concludes the economist.
