Yousif Bin Saeed Lootah speaks during the launching ceremony in Dubai.
Sajjad Ahmad, Deputy Business Editor
To support the UAE sustainability drive and strengthen the country circular economy, YJOZ, an innovative digital platform for the sustainable rental of everyday items to luxury collections, was launched in Dubai on Friday at a ceremony in Zabeel Saray, The Palm.
The latest solution was unveiled by Yousif Bin Saeed Lootah, the CEO of YJOZ. The new application was launched with the an aim to encourage the adoption of sustainable lifestyles through renting.
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 re-sending used products to the market.
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. Currently, the App offers a growing list of items spanning various categories, from tools and equipment to home appliances, fashion, jewellery, sports and leisure items.
“We are living in an era that requires us to confront numerous environmental challenges, such as protecting the environment and reducing carbon emissions. 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,” said Saeed Lootah.
He further noted 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. For example, a report by the World Economic Forum (WEF) 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 UAE will play host to COP28, which will reaffirm the global commitment to combating climate change and protecting the environment. 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 leverages an easy-to-use interface to find the perfect items for user 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.
YJOZ is now available to download from the App Store and Google Play, and as a website.