The Federation of Thai Industries (FTI) has joined forces with two state agencies to work on a project to turn industrial and agricultural waste into raw materials or new products in a fresh move to reduce waste under the circular economy concept.
The cooperation aims to help Thailand better manage rising levels of waste, said Sukit Limpijumnong, president of the National Science and Technology Development Agency (NSTDA), which signed a memorandum of understanding on the project with the FTI and the Department of Industrial Works.
A circular economy, which is part of the bio-, circular and green (BCG) economic development plan, involves an upcycling process to add value to unwanted materials and make them usable again.
"Researchers at the NSTDA will work closely with businesses and state agencies to come up with waste disposal solutions," said Mr Sukit.
"We can help manufacturers and farmers to reduce, reuse and recycle waste by using proper technology. We can also assess the impact of waste on the environment."
Kriengkrai Thiennukul, chairman of the FTI, said the federation is running the Circular Material Hub scheme to support entrepreneurs who want to make use of industrial waste by making the unwanted materials into new products.
The scheme targets startups which are keen to invest in businesses based on this concept.
"The manufacturing sector is a waste generator. We have to take responsibility for what we make and launch measures to put an end to waste problems," said Mr Kriengkrai.
He said waste from one company can be a raw material for another business.
The FTI is also cooperating with Thailand Science Research and Innovation to give financial support to waste reduction projects under the FTI's Innovation One programme, which is in line with BCG and campaigns against global warming.
Julapong Taweesri, director-general of the Department of Industrial Works, said his department will issue regulations that will support better waste disposal and increase business operational efficiency.
The department's cooperation with the FTI and NSTDA will help Thailand achieve carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.