Saudi Arabia Showcases Circular Economy and Investment Opportunities at IFAT 2024

On May 11, 2024, the National Center for Waste Management of Saudi Arabia announced its pioneering initiatives at the IFAT 2024 in Munich, aiming for substantial waste reduction by 2040 through the enforcement of circular economy principles. This marks Saudi Arabia's first participation in the global event, focusing on public and investor engagement in its sustainable economic transformation.

Saudi Arabia’s National Center for Waste Management, which was founded in 2019, has launched a Strategic Masterplan that includes ambitious targets such as reducing landfill waste by 90% and achieving a 79% recycling rate by 2040. Advanced technologies and artificial intelligence are set to play crucial roles in enhancing waste sorting and recycling capabilities.

The Kingdom has implemented a new Waste Management Law which supports these goals through Polluters Pay Principles and Extended Producer Responsibility. These initiatives support the financial sustainability of the waste sector and are designed to attract investments in various projects such as composting, waste-to-energy, and more.

Through its participation in IFAT 2024 and introduction of a comprehensive strategic plan, Saudi Arabia aims not only to optimize its waste management but also to position itself as a leader in renewable energy and achieve net-zero carbon emissions by 2060.