SCG takes on circular economy for today's business
published : 22 Aug 2019 at 13:32
It is impossible to turn a blind eye to the environment crisis the world is facing today.
One of the most appalling environment-related tragedies was the recent death of the female dugong Mariam, whose autopsy later found several pieces of plastic in her intestine. Issues such as global warming, climate change, and excessive waste all pose a challenge to how global companies should operate and cause difficulties for businesses in their environmental policies. With increasing demand for limited world resources, sustainable development is key to surviving and thriving in this age.
The Circular Economy is a new economic business model and a solution to the current environmental situation. It offers a new way of looking at relationships between markets, customers and natural resources. At the same time it harnesses the potential of emerging disruptive technologies to move from “Take-Make-Dispose” toward “Make-Use-Return”.
Roongrote Rangsiyopash, President and CEO of SCG said:
“The traditional Linear Economy is based on the one-way Take-Make-Dispose process without recycling
obligations. This model produces many negative impacts at a global scale which prompts the world to change. Meanwhile, the Circular Economy is a regenerative economic system applied across the value chain to increase management efficiency of waste, raw materials, end-of-life products, and energy to circulate continuously in a proper closed loop system.
“The goals and guidelines of the Circular Economy are to maximise the value of resources while minimising the use of new resources. This is accomplished by creating a series of circular approaches ranging from re-process, re-design, added value, innovation, collaboration with business and non-business related and reuse. The model is all about building better values and a more sustainable environment, community, society, and business.”
Right now, the Circular Economy is not a business option but has become the necessary key to sustainable development and business. Implementation of the Circular Economy will pave the way for new business opportunities to mitigate business risks today and in the future. It helps businesses sharpen their competitive edge and prosper. The model will eventually lead to reduced resource dependence and create value for organisations and stakeholders.
Most importantly, the key to achieving these sustainable development goals that include economic, societal and environmental dimensions requires the active participation of all sectors.
“More public awareness and behavioural transition in manufacturing and consumption to regenerative practices must occur along every value chain,” concluded Mr Roongrote. “Only with the cooperation can the Circular Economy become a reality.”
All in all, it is more important than ever to familiarise Thai society with and make the most of Circular Economy policies and practices.
To help all this come to fruition, SCG is proud to host “SD Symposium 10 Years — Circular Economy : Collaboration for Action”, providing Thailand with a platform to brainstorm and work together toward the most suitable Circular Economy solution in the Thai context.
The symposium takes place on 26 August 2019 at Centara Grand and Bangkok Convention Centre at
CentralWorld. For more information, please visit https://www.scg.com/sdsymposium/#/th/home.
- sustainable development
- value chain