As part of the EBRD’s ongoing support for developing a greener economy in its countries of operation, the bank’s Taipei office hosted a webinar called “Accelerating the circular economy” on 24 February 2022. The main purpose of the event was to raise awareness about the circular economy and various actions businesses can take to fast-track their transition towards it. Unlike a linear economy, the circular economy is aimed at recirculating products and materials in order to eliminate waste and pollution.
“As half of the total greenhouse gas emissions come from resource extraction and processing, scaling up circular economy activities will make a decisive contribution to achieving climate neutrality by 2050,” the audience heard the EBRD Associate Director, Ksenia Brockmann, say during her opening remarks. Indeed, circular economy principles motivate people and businesses to evaluate their use of natural resources, design products with recyclability and reusability in mind and develop ways to be more flexible and accessible in an unpredictable environment.
Several innovative CE solutions were showcased at the event. Miniwiz Co recycles plastics and fibres and turns them into building materials, wallpaper, chairs, various textile materials, wireless chargers, etc. The company’s challenge at the moment is the lack of experience on the part of consumers and producers alike, which is crucial in creating a market and a high-quality product.
Enrestec Inc upcycles tyres into various products, such as wet suits, ink applications, and sports inventory. As Mr Yuan highlighted, “conquering” the recycling part is not as challenging as creating a good product. Despite his company’s 17 years in operation, it is still working on improving the final output that is delivered to customers. Nevertheless, Enrestec’s products help avoid about 72% of emissions.
Yet another case for waste management, was presented by KiSmart Corporation. The company turns waste into organic fertiliser, allowing drastic decreases in the use of chemical fertilisers, soil-borne diseases, reduction of carbon in land soils and energy use.
More than 150 attendees out of 30 countries including 9 attendees from Armenia had the chance to witness how companies apply circular strategies. The webinar also gave vendors from around the world the opportunity to engage with one another, not only in the form of questions but also in one-on-one virtual meetings and networking sessions. Many of the examples given at the webinar by the companies might have seemed like science fiction, but they were in fact real examples of the principles of upcycling, recycling, reusing, and value recovery being applied in business operations.