Wealth Lost in Waste

Macro economy, development economics and sector analyses – TSKB Economic Research shares its findings with stakeholders through reports titled "TSKB Perspective". Its latest study focuses on the waste economy, which reaches billions of lira in value. The report titled "Value in Waste", prepared by Dilara Ay Erişen from TSKB Economic Research, highlights that in Turkey alone, unrecycled waste in residential areas amounts to over TRY 1.5 billion annually. The report points to the growing importance of the economic dimensions of recycling alongside its environmental and social benefits at national and international levels. While presenting the current picture on this subject, it outlines what can be done by the public sector, private sector and individuals. The report notes scientists' prediction that if plastic consumption does not change, by 2050 there will be more plastic than fish in the oceans. It underscores the need for policymakers, national and international organizations, the private sector and individuals to take action on this issue. The report states that developed countries, which make up 16% of the world's population, produce 34% of total waste. It also includes the World Bank's estimate that by mid-century, Europeans and North Americans will produce 25% more waste than today. During the same period, waste generation in East Asia is expected to increase by 50%, South Asia by 100%, and sub-Saharan Africa by 200%. The report notes that total annual global waste is expected to approach 3.4 billion tonnes by mid-century. In present-day Turkey, excluding industrial waste, approximately 6 million tonnes of recyclable waste is generated annually in residential areas alone, the report notes. It states that approximately 5 million tonnes of this is not recycled and is instead buried in landfills. The report highlights that the economic value of this amount exceeds TRY 1.5 billion and presents the following information:

Turkey Still at the Beginning of Recycling

As of 2015, of approximately 6.3 billion tonnes of plastic waste globally, only 9% was recycled, 12% was incinerated, and 79% was disposed of by being deposited in landfills or accumulating in nature. The "Recycling Sector Incentive Report" released by TÜDAM in August 2016 states that in Turkey, approximately 6 million tonnes of recyclable waste is generated annually in residential areas alone. Approximately 5 million tonnes of waste, valued at TRY 1.5 billion economically, is buried in the ground. Meanwhile, Turkey transfers an additional TRY 750 million annually from public funds for the collection and burial of recyclable waste. In other words, the annual cost of the recycling sector's lack of economic and organizational capacity to meet Turkey's needs is calculated at TRY 2.25 billion.

Turkey Aims to Recover 35% of Waste by 2023

Considering the economic, ecological and social costs of waste, the report emphasizes the importance of making economies 'circular', reducing waste amounts and promoting reuse. It outlines Turkey's targets for 2023 on this matter. Recalling that Turkey's target for 2023 is to recover 35% of generated waste and dispose of 65% through regulated landfill management, TSKB Economic Research Deputy Manager Dilara Ay Erişen shares the following information: "When we evaluate the picture as a whole, we see that before functional waste management, it is important to create a system where materials are economically and environmentally sustainable for effective resource use. For this, it is essential that all segments of society, including the public sector, private sector and households, fulfill their respective roles in recycling. In addition to environmental and social benefits, the economic dimension of waste recovery is gaining importance day by day. The use and recovery of existing resources, recycling of numerous materials that can be reused by reducing waste generation, prevention of resource waste and cost reduction seem to be taking countries one step forward."

What Should Be Done to Reduce Waste?

The report titled "Value in Waste" argues that the principle of "reduce waste, reuse and recycle" is applicable across all sectors. It emphasizes that companies can take various measures to make a difference, including focusing on certain issues at the heart of recycling. The issues companies can focus on in this area are listed as follows:

• Designing packaging with recycling and circularity in mind,
• Designing products to be suitable for recycling,
• Purchasing from local (micro) suppliers,
• Paying attention to sustainability in supplier selection,
• Focusing on reducing energy, water use and emissions,
• Centralizing and optimizing waste management,
• Supporting environmentally friendly disposal practices,
• Recycling materials,
• Reusing materials.

The report emphasizes the importance of organizing all business, production and consumption processes within the framework of sustainability, stating that this will provide significant benefits to companies as well as to the economy and nature.