Chennai: Indian Institute of Technology Madras has said it is developing an innovative model to tackle electronic wastes (e-waste) by linking stakeholders in the formal and informal economy.
Called āe-Source,ā 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 various stakeholders (buyers and sellers), a statement said.
According to studies, currently the world annually generates 53.6 million tonnes of e-waste, which is expected to double in the next 16 years. Studies also estimated that 85 percent of this is being lost globally. IIT Madras researchers, focused on the ācircular economy,ā are working to address the gaps in the e-waste sector, which can potentially open doors to a $50 billion economy.
e-waste is one of the pressing issues in India as well, with the country being the world’s third largest producer. Further, between 2019 and 2020, Indians generated 38 percent more e-waste. However, what is more worrying is that only 5 percent of e-waste is recycled responsibly in the country.
Called e-Source, this initiative is being spearheaded by Indo-German Centre for Sustainability (IGCS). The IGCS team believes that the problem of e-waste could be resolved by connecting different buyers and sellers of Used and Waste electronic equipment and components without compromising their interests.