TheEconomist Sustainability Summit Asia

The Sustainability Summit Asia 2018 will convene scientists, business leaders, government and NGO representatives, entrepreneurs and academics to discuss what needs to be done for Asia to embrace the circular economy, and in doing so to improve social services, offset the causes of climate change and achieve sustainable economic growth.

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About the summit:

According to the OECD, Asia will continue to be the world’s fastest-growing region through to 2030. As its middle classes grow, it has the opportunity to leapfrog Western nations in developing a circular economy—a system that repurposes resources and materials to maximise usage and minimise waste. Vehicles and housing are already recycled, albeit mostly on a small scale by the rural working classes. The region’s entrepreneurial community is adopting “circular” initiatives in agriculture and mobility. And large-scale investment in renewable energy is moving major economies away from reliance on fossil fuels.

Yet there remains a fundamental conflict of interest between politicians, the corporate world and the general populace. Each key component of society must find a way to mutually benefit. Governments must create a cohesive framework where materials are repurposed on a national level, in areas from energy to social housing, and move away from obsessions with GDP growth. Regulators must create an environment that gives businesses incentives to go circular and work more effectively with enforcement agencies. The private sector has to change its production models and create economic value from circular initiatives.