World Environment Day 2024: Everything Industries Need to Know

World Environment Day, held annually since 1973, is observed on June 5 to bolster environmental protection and increase awareness. The Kingdom of Saudi Arabia is hosting World Environment Day 2024 with an emphasis on desertification, land restoration and drought resilience. The theme is invaluable to achieving the Sustainable Development Goals (SDGs).

Amidst the triple planetary crisis-the crisis of nature and biodiversity loss, climate change and the crisis of pollution and waste-the work of watchdogs, including UNESCO and the United Nations Environment Programme (UNEP), becomes instrumental in helping decision-makers manage natural resources sustainably. UNEP warns that humanity produces more than 430 million tons of plastic annually, while 19-23 million tons of plastic waste leaks annually into aquatic ecosystems.

Industries are grappling with challenges, from the surging need for sustainability to disruption and global competition.

Power-to-X and Green Hydrogen Indispensable for Decarbonization

Power-to-X has become second to none in converting electricity from renewable sources into energy or products fueled by hydrogen production. Green hydrogen has become the next big thing to reduce carbon footprint in the automotive, chemicals and steel industries. For instance, green hydrogen can be transferred into Sustainable Aviation Fuel (SAF). In May 2024, the EU approved USD 1.5 billion for major hydrogen projects under the aegis of seven EU countries (Germany, France, Estonia, Netherlands, Italy, Spain and Slovakia). Under the scheme, 11 companies, such as BMW, Airbus and Michelin, are expected to partake in the 13 projects.

Construction Industry Banks on Green Building Materials

According to the U.S. EPA, the cement sector is the third largest contributor to industrial pollution, emitting over 500,000 tons (annually) of nitrogen oxide, sulfur dioxide and carbon monoxide. An emphasis on green building materials will help reduce GHG emissions and costs. The International Finance Corporation projects investments in green building to touch USD 24 Trillion over the next decade. Predominantly, recycled plastics, fiber cement siding, coconut fiber, raw earth and bamboo have become sought-after for a greener future.

Fostering a Sustainable Bioeconomy

Bioplastics have become invaluable at a time when governing bodies voice concern over climate change, forcing companies to invest in renewable energy sources, bioplastic packaging and biodegradable products. Chemical companies are likely to inject funds into recycling technologies, sustainable disposal of plastic waste, polymer substitutes and liquid wood. In essence, “pyrolysis” has become a vital proposition to turn non-recycled plastics into synthetic crude oil, which could be refined into heating oil, diesel, or gasoline.

Biodegradable Water Bottles are here to Stay

Soaring plastic pollution has prompted industry leaders to make a giant leap in the fight against climate change through investments in biodegradable water bottles. Sustainable sourcing and renewable energy procurement are expected to hold prominence as businesses and scientists strive to replace everyday packaging with recyclable materials.

Since eco-friendly water bottles biodegrade in compost and can reduce carbon footprint, the next few years could provide challenges and opportunities alike. Besides, biodegradable paper has added a fillip to a sustainable future as it can decompose quickly and minimize the amount of waste in landfills. The food industry also sees biodegradable plastic packaging as an investment in a circular economy, capitalizing waste as compost, which adds nutrients to the soil.

The Way Forward

The global push for the revival and protection of ecosystems is vital to attaining the Sustainable Development Goals. As World Environment Day gets underway, advanced and emerging economies can join the Kingdom of Saudi Arabia to build momentum and bolster sustainable economy, protect nature and combat climate change. From a long-term standpoint, industries can make a giant stride toward a circular economy and decarbonization.

Meanwhile, it won’t be a cakewalk to substitute materials and products as companies inject hefty funds into the supply chain and manufacturing capabilities. A journey towards a decarbonization future could be done in a way that adds value to the planet and economy.