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Chennai: The Indian Institute of Technology in Madras said it is developing an innovative model to tackle electronic waste (e-waste) by connecting stakeholders in the formal and informal economy.
Called “e-Source”, it will be an exchange platform that will serve as an online marketplace for Waste Electrical and Electronic Equipment (WEEE) and facilitate a formal supply chain between the different parties. stakeholders (buyers and sellers), according to a press release.
Studies show that the world currently generates 53.6 million tonnes of electronic waste each year, which is expected to double over the next 16 years. Studies have also estimated that 85 percent of this is lost globally. Researchers at IIT Madras, focused on the “circular economy,” are working to fill the gaps in the e-waste sector, which can potentially open the doors to a $ 50 billion economy.
Electronic waste is also one of the pressing issues in India, the country being the third largest producer in the world. In addition, between 2019 and 2020, Indians generated 38% more electronic waste. However, what is more concerning is that only 5% of electronic waste is recycled responsibly in the country.
Called e-Source, this initiative is led by the Indo-German Center for Sustainability (IGCS). The IGCS team believes that the e-waste problem could be solved by connecting different buyers and sellers of used and used electronic equipment and components without compromising their interests.
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