2017 Industry Roundtable
On June 1st, a group of selected senior business, government and academic leaders gathered at this year’s Eco Action Day Circular Economy Industry Roundtable in search of ways to achieve a more resource-efficient, sustainable economy in Singapore.
In 2017, the roundtable featured the first ever EAD Circular Economy Challenge, which seeks to engage students and young professionals in Singapore to create innovative solutions to improve sustainable consumption and production patterns in the city-state.
As the world population continues to grow – to some 8.5 billion by 2030, and 9.7 billion in 2050, according to the United Nations – the demand for products and services will be unparalleled.
Most manufacturing practices today follow a linear “take, make, waste” model, where the flow of materials from mines to landfills is a one-way affair, and according to the World Economic Forum, results in trillions of dollars in annual economic losses.
As resource availability shrinks and the global population expands, this industrial model is no longer viable. In its place, the circular economy is now emerging as a response to this global challenge.
How will this impact existing business models? What would a circular economy in Singapore look like?
What are the challenges and business opportunities in this transition? And does the regulatory environment need to change to accommodate the new economy?
This year’s Eco Action Day roundtable discussed these issues and suggested practical steps to integrate circular economy principles for a more sustainable Singapore.