Yousif Bin Saeed Lootah Group launches YJOZ App to promote a circular economy
YJOZ, launched by Yousif Bin Saeed Lootah Group, was unveiled as a digital platform for the sustainable rental of everyday items to luxury collections in order to encourage the adoption of sustainable lifestyles through renting.
As the latest solution in the UAE in the circular economy sphere, YJOZ aims to redefine the way products are consumed and the perception of renting by providing a simple and eco-friendly platform for renting and sharing goods. The App aims to enable better use of natural resources, helps reduce waste, and reshapes the entire value chain by extending the life of products by resending used products to the market.
"We are living in an era that requires us to confront numerous environmental challenges, such as protecting the environment and reducing carbon emissions,” said Yousif Bin Saeed Lootah, the CEO of YJOZ. “We are also concerned about the excessive exploitation of natural resources and the unsustainable production of consumer goods. This is where YJOZ emerges as an innovative solution contributing to environmental protection and sustainable development.”
YJOZ leverages an easy-to-use interface to find the perfect items for user’s needs and offers a unique sustainability rating system that enables environmentally conscious, value-based decisions. At the outset, renting and reusing reduce the exploitation and extraction of raw materials to produce new products, thereby reducing energy-intensive manufacturing processes and transportation emissions.
Lootah feels that, in reality, recycling is energy intensive and may require the use of more new materials, and it does not adequately address the problem that consumers buy too much and sometimes invest in products they may rarely use. A report by the World Economic Forum found that offerings within the rental sector have exploded over the past decade, with furniture being the number one category that consumers rent, in addition to products such as gaming systems, clothing, tools and technology.
The digital solution presents users an opportunity to earn money by renting out their products while giving like-minded, environmentally conscious people affordable access to products without buying them.
Businesses can embrace sustainability by renting equipment, hence maintaining the value of products, resources and materials for longer while curbing waste. Lootah pointed out that the platform offers categories for B2B and B2C rentals, providing businesses with an economical and sustainable procurement option. Some of the key benefits for businesses include maximising the usage rate, which reduces the amount of equipment needed buying; finding the right tools for each task easily and cost-effectively; and, most importantly, rental equipment is diligently maintained, which collectively contributes to prolonging equipment life overall. In short, companies can reaffirm their commitment to the environment and contribute to a greener and more responsible economy by renting.
The UAE will play host to COP28, which will reaffirm the global commitment to combating climate change and protecting the environment. Lootah felt that the launch of YJOZ at this pivotal time is in line with UAE’s efforts in sustainability and demonstrates to the world that UAE is taking the necessary measures and making efforts to achieve sustainable development goals. “We believe that everyone has the power and responsibility to contribute to a greener future, and we are proud that YJOZ is at the forefront of this movement. We need to remember that sustainability is not just a choice, but a responsibility we owe to our planet and future generations."
YJOZ is now available to download from the App Store and Google Play, and on its website.
