From oil exporter to pioneer of the circular economy - Saudi Arabia for the first time at the leading waste trade fair IFAT 2024 in Munich
Issuer: National Center for Waste Management (MWAN) / Key word(s): Sustainability/Tender Offer
10.05.2024 / 15:30 CET/CEST
The issuer is solely responsible for the content of this announcement.*Munich (May 10, 2024). 90 percent less waste in landfills by 2040, waste avoidance through data and circular economy: Saudi Arabia is not only driving the transformation of its economy but also vigorously pursuing sustainability initiatives. For the first time the country will showcase its strategies to the global public and investors at the IFAT 2024 waste management trade fair (May 13 - 17, 2024).*
“The waste management sector plays a pivotal role in the green transition under Vision 2030”, says Sultan AlHarthi, Corporate Communication Executive Director of the National Center for Waste Management (MWAN), established in 2019. MWAN has crafted an extensive set of measures for waste management, aimed at preventing waste at the source and improving the efficiency of recycling remaining waste. This transition to a circular economy encompasses 11 strategic objectives and 19 performance indicators for 5 strategic goals, alongside 65 initiatives for sector transformation. In line with this, comprehensive waste laws have already been enacted to minimize waste and conserve resources.
*Return on Investment and Environmental Conservation: Numerous Investment Opportunities*
"By embracing sustainable waste management practices, Saudi Arabia is actively diversifying its economy and prioritizing sustainability and environmental conservation. The Kingdom aims to become a global hub for clean energy and is committed to achieving net-zero energy supply by 2060," says Sultan AlHarthi. Through presenting its strategic Master Plan and showcases at IFAT 2024, the country aims to attract investors and potential partners. Experts and investors can interactively learn about the transformation and explore investment opportunities in five selected pilot projects. To drive ecological transformation in Saudi Arabia, investors can invest in regional clusters. The range extends from investments in composting plants for organic waste to waste-to-energy facilities, as well as logistical infrastructure and specialized recycling technology.
*Ambitious goals: 79 percent of waste to be recycled, 25 percent converted into energy.*
Saudi Arabia is investing in Material Recovery Facilities (MRFs) where recyclable materials are recovered, thus facilitating the transition to a circular economy. "Our goal is to efficiently process as much recyclable material as possible in the MRFs. We aim to become technological leaders in this field," Sultan AlHarthi. Saudi Arabia relies on optical sorters, artificial intelligence, magnetic separators, and eddy current separators in its sorting and recycling technologies. This allows for effective separation and recycling of materials such as plastics, metals, paper, and glass. A key differentiator from MRFs in other countries is the government's promotion and integration of waste management through state initiatives and investments. Saudi Arabia aims to achieve recycling of 79 percent of its waste in the future. 25 percent of the waste is intended to be converted into energy. Facilities in cities like Jeddah, Riyadh or Makkah are already successfully separating waste into reusable raw materials.
*Data driven ecological transformation*
Another crucial aspect of waste management is data: Saudi Arabia captures and analyzes waste data by clusters to precisely control waste flows in different regions. Moreover, the National Center for Waste Management is establishing a database to diagnose and classify all types of waste.*About the National Center for Waste Management*
The National Center for Waste Management was established in 2019. Its goal is to regulate and monitor waste management activities, promote investments, and enhance their quality based on the principles of the circular economy, in order to achieve sustainable development goals.
For more information, visit MWAN's website.
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