‘Circular economy’ can be achieved, says Jeffrey Cheah

  • Business
  • Friday, 16 Nov 2018

Green talks: Yeo and Cheah speaking at a press conference at the Sustainability Summit Asia 2018.

KUALA LUMPUR: The circular economy in Asia, which is the best chance in reversing the causes of climate change and achieving environment-focused goals, is achievable with the right innovation and invention, said Sunway University chancellor and Sunway Group founder and chairman Tan Sri Jeffrey Cheah.

The circular economy is a regenerative system where resource input, waste, and leakage are minimised through maximising usage, as well as recovering and regenerating products and materials at the end of each service life.

“We are living in an age where technology is transforming the world.

“We can already see the effects of technology on the global economy, geopolitics and society.

“I believe that it is now more important than ever not just to raise awareness about sustainability but to also implement policies that promote the sustainable development agenda,” he said at Sustainability Summit Asia 2018 yesterday.

The full-day summit themed ‘Going Full Circle’ opened with a dialogue on policy framework for sustainable development goals adoption in Asia before outlining the need to drive mainstream conversation among policymakers, businesses, as well as citizens to embrace long-term initiatives that will lead to positive effect in economic goals while leaving a better planet for future generations.

During the summit, delegates addressed the need for public, private partnership to align interests and significantly step up its development efforts across sectors to find multilateral solutions to overcome transboundary challenges.

Meanwhile, Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin, in her closing keynote, highlighted the importance of replacing, alongside the 3Rs of reuse, reduce, and recycle.

“We need to replace plastic packaging with biodegradable and compostable alternatives.

“We want to control plastic waste but what we lack right now is education.

“Hence, as part of the government’s zero-single use plastic roadmap by 2030, our ministry (Mestecc) is focusing on a thought provoking media campaign to change the mindsets of the people (on the need to control plastic waste),” she said.

The Sustainability Summit Asia 2018 is organised by The Economist in partnership with Sunway University’s Jeffrey Sachs Center on Sustainable Development. 

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