ECO RECYCLING LTD, a leading and only listed entity in the segment in India, is showing the world how to treat waste electrical & electronic equipment (WEEE). A unique initiative, spearheaded through a downloadable app called BookMyJunk, it has been gaining ground in and around the country's commercial capital.
Book My Junk is a mobile app developed to assist environment conscious users of electronic devices, when they decide to discard and need someone to come to their doorstep to collect-waste for recycling. The app has received good response from the target group which prefers environment above financial gain out of e-waste, says B K Soni, CMD of Eco Recycling. To assist these registered users of the Book My Junk app, the company made 118 trips with its dedicated vehicles and collected e-waste from 692 places during the beta testing period. The collected e-waste or discarded electronic material includes mobile phones, chargers, laptops, keyboards, mouse, TVs, LCDs, laptops, desktops, mixers, ovens, irons, fridges, washing machines, etc.
"It is usually said that lack of awareness and monetary consideration drives the end users to avail inferior way of disposal of their e-waste; but Book My Junk believes that if awareness is associated with action, it has greater and perpetual Impact," says Soni.
As one of the fastest growing economies in the world, India is going to witness a fast increasing load of e-waste, originating from both household consumption and enterprises over and above illegal imports.
Western India contributes more than 30% of the country's 3.2million MT of e-waste generated annually, making India the fourth-largest producer of e-waste. Hence the significance of the Book My Junk initiative, it not only deals with the e-waste in a scientific manner collected from the doorsteps of the end-users, but the platform also facilitates the producers of electrical and electronic equipment to meet their obligation and target under the E-waste Management Rules.
Increasing digitization, online payments, smart cities, change in technologies are contributing to increasing e-waste of India as well. The country is expected to generate eight million of e-waste by 2025.
"We should not be worried of growing quantity of WEEE, because it's a direct reflection of our socio-economic growth. Book My Junk is an easy-to-use app that enables people and organizations to get their e-waste collected and recycled responsibly. This initiative aims to play a key role in assisting not only the end users but the OEMs and regulator in effectively implementing the rules and achieving desired targets seamlessly and effortlessly, "says Soni.
The importance of Book My Junk initiative is critical for a country like India. Improper e-waste disposal in landfills or other non-dumping sites pose serious threats to current public health and can pollute eco systems for generations to come. When electronics are improperly disposed and end up in landfills, toxic chemicals are released, impacting the air, soil, water and ultimately, human health.
Shares of ECO RECYCLING LTD. was last trading in BSE at Rs.56.5 as compared to the previous close of Rs. 57.1. The total number of shares traded during the day was 7130 in over 102 trades.
The stock hit an intraday high of Rs. 58 and intraday low of 54.5. The net turnover during the day was Rs. 402822.