Often, we dispose of our old electronic devices like TVs and phones without considering the consequences. However, did you know that this action contributes to e-waste, which is referred to as discarded electronic waste? E-waste contains harmful chemicals such as lead, cathode ray tubes, and mercury, posing risks to human health and the environment. To tackle this problem, effective e-waste management is crucial. This blog explores the importance and approaches employed in e-waste.
What is E-Waste Management?
E-waste management refers to the proper disposal and management of electronic waste, including old or discarded electronic gadgets such as phones, computers, televisions, and more.
According to a report by Extrapolate, businesses are viewing the management of e-waste as a profitable sector. The E-Waste Management Market is projected to be valued at $147.11 billion by 2030.
Why is E-Waste Management Important?
If you are wondering, is responsible management of e-waste really important? Can e-waste be recycled? And how is e-waste management done? Then all the answers to these inquiries lie within this very discussion.
The management of e-waste is crucial for several reasons. The first reason is that electronic devices often contain hazardous materials such as lead, mercury, and cadmium, which can pose significant risks to human health and the environment if not handled properly. Second, e-waste contains valuable resources like precious metals and rare earth elements that can be recovered through recycling, reducing the need for raw material extraction and conserving natural resources. Lastly, the improper disposal of e-waste can lead to pollution of soil, water, and air, further exacerbating environmental issues.
Management of e-waste is done by implementing strategies and practices aimed at reducing the environmental and health impacts of e-waste through recycling, reuse, and safe disposal methods. For example, the WHO (World Health Organization) is contributing to pilot projects and international e-waste programs.
Is E-Waste Management a Profitable Business?
If you are thinking of e-waste management as a business, then it is a great idea, but remember that the profitability of this business can vary depending on various factors. Some factors that contribute to the profitability of managing e-waste businesses include:
● Value of Recovered Materials
E-waste contains valuable materials like precious metals, rare earth elements, and other recyclable components. The extraction and sale of these materials can contribute to the profitability of the business. For example, to increase metal extraction, Boliden has invested over $72 million in a metal leaching plant to enhance the recovery of metals from e-waste, aiming to improve the recycling process.
● Extended Producer Responsibility (EPR)
EPR programs, where manufacturers are responsible for the end-of-life management of the products, can create partnerships and revenue streams for e-waste management businesses. For instance, international organizations like the UNEP and Basel Convention offer guidance, technical assistance, and funding for e-waste management business initiatives in Southeast Asia, including training policymakers and practitioners.
● Market Demand
The demand for responsible e-waste disposal and recycling continues to grow as awareness of environmental issues increases. This demand can create opportunities for e-waste businesses to provide their services and generate revenue.
To cite an example, Attero, an electronic asset management company, clocked revenue in FY23 of INR 300 crore from e-waste recycling, of which 15% is from Li-ion battery recycling.
● Government Incentives and Support
Some governments offer incentives, grants, or subsidies to encourage e-waste recycling and responsible disposal. These can help offset costs and improve profitability.
● Efficient Operations and Cost Management
Implementing efficient recycling processes, optimizing logistics, and managing costs effectively can contribute to the profitability of effective management of e-waste businesses.
A Responsible Initiative: E-Waste Management in India
India has witnessed a significant increase in the generation of electronic waste (e-waste), including televisions, computer monitors, keyboards, mice, and phones. According to the Ministry of State for Environment, the e-waste has spurred to 10,14,961.2 metric tons in 2020 from 7,08,445 metric tons in 2018 to. Hence, this calls for a heightened need to manage e-waste in India. In order to tackle the rising issue of electronic waste, the ‘E-waste Management 2022 Rules’ mandate that companies must register and keep a record on the portal for the production of solar photovoltaic modules, panels, or cells. This measure aims to address the growing concern related to e-waste and promote responsible management practices in the industry. They must also follow CPCB guidelines for e-waste storage and submit annual returns.
Apart from this, e-waste manufacturers play a key role in the production, assembly, import, and ownership of electronic devices, responsible for their life cycle, recycling requirements, and disposal. They can reduce environmental impact by implementing sustainable practices, and recyclability. For instance, Samsung’s Galaxy Upcycling program encourages the reuse of old smartphone components in new devices or IoT applications, promoting a more sustainable approach to electronics.
What is the future scope of e-waste management?
The future scope of e-waste management is promising, driven by increasing awareness, evolving regulations, and the growing volume of electronic waste. With the rapid advancement of technology and shorter product life cycles, the demand for responsible e-waste disposal and recycling is expected to grow. The focus is likely to shift towards resource recovery, with a greater emphasis on extracting valuable materials from e-waste. Technological advancements will improve recycling processes, while policies and regulations will drive compliance and promote sustainable practices. International collaboration and the adoption of circular economy principles are likely to shape the future of e-waste management, creating opportunities for innovation and a more sustainable approach to electronic waste.
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