Hanoi (VNA) – A workshop organized in Hanoi on October 14 highlighted the circular economy as the future of equality and sustainability economic growth.
The event, which is part of the annual meeting Vietnam Business Sustainability Forum 2021, was organized by the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam Business Council for Sustainable Development (VBCSD). It saw the participation of around 500 delegates from ministries, sectors, professional associations, national international organizations and companies by videoconference.
Nguyen Quang Vinh, general secretary of the VCCI, said in recent years, thanks to the efforts of government, relevant agencies and many companies, the concept of “circular economy” has become much more familiar to the business world.
A circular economy brings a new approach to using materials in a more efficient and economical way while constantly reminding people to use limited resources such as water, energy, materials and food in a a way that gives these resources a longer lifecycle and higher value. compared to the existing method.
An economy can achieve a ‘closed cycle’ through the comprehensive engagement of sectors, industries and consumers through the sharing of information, the application of new business models and the combination of supply chains in order to achieve scientific goals with the support of the legal system and government business rules, said Vinh, who is also the secretary general and deputy director general of the VBCSD.
Mai The Toan, deputy director of the Institute for Strategy and Policy of Natural Resources and the Environment, said the state should strongly encourage the development of models of connection and sharing of circular use of products and waste, and mobilize the commitment of the various sources of resources in society.
Brendan Edgerton, director of circular economy at the World Business Council for Sustainable Development, pointed out that the global economy is only 8.6% circular. Without strict monitoring, the global use of materials in 2060 would double in 2015.
He also made recommendations on the roadmap for building a circular business strategy, noting that every company needs to improve its production process, products and business model./.
