Role of EPR on Circular Economy & Post-Recycled Market

Mr. Nitin Chitkara (CEO- Meta Materials Circular Markets) was invited as a guest speaker at a transformative event “Role of EPR on Circular Economy & Post-Recycled Market” on the Occasion of Global Recycling Day, organized by The Policy Times. He underscored the indispensability of circularity and sustainability for the future of business. He outlined how Extended Producer Responsibility (EPR) acts as a pivotal support system, enabling a shift towards recycling despite its current cost challenges compared to using natural resources.

Highlighting the innovative approach towards end-of-life vehicles, Mr. Chitkara shared insights into how recycling vehicles and leveraging carbon credits can significantly reduce emissions, steering the industry closer to the 2070 goal of net zero emissions.

With India positioned as a major automobile manufacturer and consumer, the potential for material circularity in the automotive sector is immense.

Delving deeper, he shared that the current ELV- EPR draft needs more clarity on material circularity vs. traceability, and the need for involving OEMs directly in the recycling process. Furthermore, he emphasized the necessity of a transparent price discovery mechanism for EPR, advocating for market dynamics to dictate pricing rather than fixed agency rates.