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Innovative Financial Advisors Pvt. Ltd. – The Economics Of Waste
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Taking a leaf out of Shakespeare one can say ‘To Recycle or Not to Recycle’ is a dilemma that is often faced by people. The confusion is at every stage of recycle starting from what should be labeled, which bin the material needs to be put in and what the municipal administration accepts. All these processes actually determines which product is to be recycled.
Innovative Financial Advisors Pvt. Ltd. understands all these issues are common as consumers are not able to understand while dealing with wastes such as plastics, as to what makes the material recyclable? This common problem persists across the globe. People need to realize that when it comes to nature nothing goes to waste. Any waste that is generated is a resource that can be used by other organisms. The nature cycle is in loop system where a waste of one organism becomes food or resource for other organisms.
Today, it is believed that majority of the things are recyclable or it has the potential to be recycled. It is important for an emerging economy such as India to think on sustainable lines and promote start-ups in waste management sector. These enterprises can develop recycle processes for many different waste streams which were previously thought to be non-recyclable. Some of the materials than can be targeted are cigarette butts, plastic pouches, chip bags, diapers etc. All these can be recycled into useful products such as industrial plastic lumber etc. Therefore, it is important to look into all the waste that we once considered non-recyclable.
One major factor that creates hurdle in the recycle process is the economic barrier that restricts recyclability of materials. Innovative Financial Advisors Pvt. Ltd. understands that in order to recycle a material, it is important that collection of waste happens in bulk. After collection, the wastes need to be separated, which gets difficult as wastes might be multi-layered or might have container made of plastics. The material gets recycled only once the entire process has taken place. Moreover, such a process has cost attached to it and when a recycled material is worth more than the cost involved in recycle, then only is it considered feasible and can be sold in open market. If the process costs more than the value of the recycled material, it doesn’t make any sense to recycle. With other factors such as infrastructure and technological advancements creating bottlenecks, more often than not it is economics and not science that determines what is to be recycled.
Therefore, in order to ensure that the recycle process is feasible, the following suggestions can be adopted:
• Commencing the waste management from the manufacturing stages of products
• Establishing recycle centres and other adequate infrastructure at district level nearby the collection points reducing transportation costs
• Creating awareness about waste management among local communities
• Improved collaboration among various stakeholders in the waste management value chain
• Incorporating advanced technology in the waste management processes
• Promoting recycled products among local communities
• Incentivizing waste management to promote startups and encourage involvement of large organizations
These initiatives can ensure the cost of recycle products gets reduced and recycled products are consumed more.
By Rahul Choudhury
Media Team – Innovative Financial Advisors Pvt. Ltd.
Author Bio: Innovative Financial Advisors Pvt. Ltd. is associated with Health organizations for their CSR activities across India.Innovative Financial Advisors Pvt. Ltd. was also the principal sponsor of the event 'Better Healthcare Through CSR'.
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