The circular economy aims to redefine growth, focusing on advanced societies with a wider range of benefits. It involves decoupling economic activity from the consumption of finite resources and redesigning waste materials in the system. It represents a systemic shift that builds long-term resilience, generates business and economic opportunities, and provides environmental and societal benefits. It is based on three principles such as design out waste and pollution; keep products and materials in use and regenerate natural systems.
In today’s competitive world, many private sector companies are leveraging economic, social and environmental opportunities that circular economy provides. For example: - Philips is enhancing its business models that creates value and gain market shares, including providing lighting as a service and renovating healthcare imaging systems. Similarly, at other side HP is shifting its business ideology from selling products to providing higher-value services, such as its Managed Print Services and ink-subscription service, as well as its first-of-its-kind closed-loop print supplies recycling program.
Such rapid move towards the circular economy in terms of redefining products and services at global level could generate, an estimated $1 trillion annually in economic value, by 2025. This will create more than 100,000 new jobs and prevent 100 million tons of waste within the next five years. Therefore, such efficient industrial model that will be restorative or regenerative by design and intent: products, components, and materials should be always kept at their highest value.
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Remanufacturing process is superior to recycling, which captures materials, but loses the labor used in initial manufacturing and uses significant amounts of energy. We cannot remanufacture a product if it is not designed to be recycled. For example, black plastic cannot be recycled because it is not recognized by machines at the waste management facility. Remanufacturing component, with various studies and advanced by new technologies like 3-D printing, products like coffee maker and medical imaging machine can be upgraded which strengthen the product to act as a latest technology.
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Despite rapid surge caused by the third wave of Covid -19 pandemic, chemical business, SCG has innovated to fulfill the entail of healthcare systems. The company has presented with its highlighted products “Sharps Disposal Bin” and “VAROGARD” Antiviral Spray and Mask. During the recent lockdown in Thailand, the infectious waste generation from medical facilities reached 65 tons waste per day. To address such problem, the Sharps Disposal Bin has been designed with user-safety features enabling healthcare systems to discard needles and syringes using a one-hand operation technique. It is composed of environmentally friendly polypropylene which consumes fewer plastic results in 8 % less weightage and emits 32% less carbon dioxide (CO2). Furthermore, SCG’s Chemical Business, has launched VAROGARD, an antiviral product series designed to enhance confidence in persons with high-risk respiratory infections or those who live in crowded areas and vulnerable groups such as patients, the elderly, and children.
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The Chemicals Business, SCG, has unveiled its 2021 business strategy towards a “Chemical Business for Sustainability” which include a target to deliver “net-zero” greenhouse gas emissions by 2050 and a roadmap highlighting four main areas to drive the circular economy. The company will also be offering a comprehensive range of innovations and technologies as well as products and services that serve as new alternatives for customers, brand owners, and eco-conscious consumers — a new business approach that the company believes, will answer the needs of the global market. The Chemicals Business, SCG, is ready to collaborate with organizations in every sector looking to apply the circular economy principles to their business.
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According to the 2020 Circularity Gap Report, the world economy is still far from being circular, as only 8.6% of waste across business is reused. However, a number of companies in Indonesia are actively pursuing alternative approaches to the linear take-make-waste model that decouple economic growth from resource constraints. Indonesian pulp and paper producer APRIL Group, for example, has shown its commitment to sustainable growth by increasing its focus on circularity and renewable energy. The company manages to reduce dependency on fossil fuel by transforming much of its waste to biofuel. This renewable energy is used to power its operations and neighbouring communities in place of fossil-based fuels. The company continues to seek innovations and initiatives to improve its energy efficiency as part of effectively managing its carbon footprint.
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H & M group vision is to become fully circular. Circular models optimize resources and minimize waste, so that products and materials kept in use for as long as possible before being recycled or repurposed. We are working to build circularity into every stage of our value chain (from design and production to customer use, reuse and recycling) and to source only sustainable, renewable and recycled resources. When shifting to a circular business new sorts of job will be created at the same time many workers have deal with job losses. In 2020, H&M Group took an important step to secure future jobs across its value chain by joining Keeping Workers in the Loop to collaborate with industry leaders and stakeholders. It's led by the global non-profit organization BSR and the main goal is to look into what implications the shift might have on job opportunities and people.
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Asia and the pacific has been the world’s fastest growing region in recent decades. It is expected to account for more than half of global production by 2050. Despite growing economy poverty and climate change should be focused on high priority at the same time. The private sector is the key to complete this agenda. It is the region’s main source of job, growth and innovation. The private sectors operations in a development bank having a vibrant, growing, a dynamic private sector is critical for achieving overall goals. The Asian Development bank mainly focuses on poverty reduction, sustainable growth and eco-friendly growth throughout the Asian region by building infrastructure, providing social services, boost small and medium-sized enterprises and deliver clean energy.
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Today, the world’s top three emitters – China, the United States, and India – account for around 50% of global CO2 emissions, and the world’s top 20 emitters account for 80%. Notably, China's rapid economic development, poverty eradication and extensive integration into global value chains has been coupled with an enormous expansion in the country's carbon emissions. Due to COVID-19, emissions fell by some 5% in 2020. But this was the result of pandemic-induced measures and restrictions that locked down economic sectors and significantly reduced global economic activity.
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The sudden increase in single-use plastics and personal protective equipment during the Covid-19 pandemic, placed even more of a burden on countries working to tackle plastic trash. The volume of solid waste and marine debris generated across Southeast Asia is on the rise. Coupled with expanding urbanization and a growing consuming class, the long-term effects are only just emerging. The European union (EU) has identified mismanaged plastic waste across Malaysia, the Philippines and Thailand is threatening key economic sectors such as tourism and fisheries and impacting livelihoods and infrastructure. But there is strong government momentum in these countries to identify critical policies, and to craft roadmaps to strengthen demand for all recycled plastic resins, level the playing field for global and domestic companies and help drive a circular economy for plastics.
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This year, humanity has faced two key crises: the Covid-19 pandemic and forest fires that have raged across the world. There is strong evidence that Covid-19 originated in bats that spread to humans through intermediaries. As for forest fires, rising global temperatures intensified damage across the world. There is consequently an urgent need to tackle two fundamental environmental challenges. First, climate change. According to a recent report from the World Meteorological Organization, there is a high risk that global temperatures could exceed the crucial 1.5-degree target above pre-industrial levels within the next five years. Across the planet, any additional rise in temperature will intensify climate disasters, causing larger typhoons, bigger floods, rising sea levels, more severe droughts, and increasing forest fires, as we are already observing. Second, the unsustainable use of natural resources. According to the International Resource Panel, more than 90 billion tons of primary natural resources are extracted every year. This puts enormous pressure on both natural resources and ecosystems.
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