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The company will help in developing an emerging sector in KSA through partnerships, which will contribute to job creation, economic development, environmental sustainability and private sector participation. The company will act as PIF’s investment arm in the sector across the country, along the value chain, for all waste sources (including MSW, commercial, industrial, construction & demolition, hazardous) by developing, owning and operating projects alongside private players. The company can support regulatory reforms and collaborate with other government agencies on environmental and awareness initiatives. Regulations is a key success factor to develop the sector and ensure commercial viability. SIRC will invest in building development and operations capabilities and will also develop and operate waste management projects across the kingdom. Most importantly having a waste management law that sets clear mandates and responsibilities across government stakeholders, and that promotes private sector investments to develop the sector. SIRC will also support sector reform and growth in Saudi Arabia by pushing for regulatory changes that will enable additional investments in the sector. This initiative will also encourage waste segregation at the source, running public awareness campaigns and to introducing financial incentives for companies to separate waste and install separate waste bins for recyclables, etc.
Sustainability Challenge/Opportunity – Current Waste Situation in Saudi Arabia: Since decades until today, Saudi Arabia is not recovering and recycling majority of its valuable recyclables from all waste streams. The mixed waste disposed-off in historic and current dumpsites is increasing health and environmental risks to the residents as well as the underwater life as most of the waste is dumped at the landfill sites in the seafronts in the kingdom. From the multiple waste streams, municipal solid waste (MSW) is the major contributor to the overall waste. Besides, presently, there is no EPR regulation introduced in Saudi Arabia yet, therefore, introducing a reasonable financing scheme for the implementation of EPR will benefit the kingdom in supporting its goal of circular economy. Moreover, the inadequacies in the kingdom’s legal framework with overlying responsibilities are due to the deficiency of law enforcement and governance, which needs to addressed. Insufficient financial incentives and lack of guarantees for investment and the slow development of the domestic recycling market and business initiatives needs attention as well.
Literature’s/research focus & Structure: Literature review will be focused on 10 countries/regions of multiple continents chosen from the Environmental Performance Index (EPI) including Australia, France, Germany, Japan, Sweden, Singapore, UK, UAE, California and Texas) in which we aim to identify the Waste Management financing best practices and models including citizen-driven models (taxation, tariffs, etc. ), producer-driven models (EPR), tools, mechanisms and speed of rollout. Since most of these countries are part of the OECD, we will also get help from the EPR policies designed by the OECD in their publication “A guidance manual for the governments, 2001”. Since Municipal Solid Waste (MSW) continues to grow rapidly due to the increased consumption, it ultimately represents the highest volume compared to other waste streams in Saudi Arabia and has become a major challenge to be addressed. In essence, our research will be focused on Residence and Industrial MSW management. The goal is to eventually identify and formulate the ideal financing model for the MSW Management in Saudi Arabia in light of the recent developments and targets set for the vision 2030, by the Kingdom’s leadership. In order to achieve our target, we will start by (a) analyzing the status-quo in the Kingdom, while in parallel (b) defining best practices for Waste Management financing schemes globally. Research question:How EPR and Municipal Solid Waste (MSW) management financing schemes can support Saudi Arabia’s move towards circular economy?It is prominent that appropriate solid waste management has become one of the critical challenges our society has to deal with presently.
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