The circular economy is a US$4.5 trillion opportunity over the next two decades waiting to be tapped by companies savvy enough to understand what it is, where they fit in and how to carve their niche in it.
The Edge Malaysia managing editor, Anna Taing, in her opening speech at The Edge SME Forum 2018, defined the circular economy model as one that is relevant today because of the potential it offers to industries while at the same time being about sustainable development.
“It has been estimated by some experts that the circular economy can generate a market worth US$4.5 trillion by 2030,” she added.
Taing defined the circular economy model as one that is purposely regenerative and restorative by design. “It is aimed at keeping products, components and materials at their highest utility at all times. What does this mean? What you can’t repair, you refurbish. What you can’t refurbish, you strip down to its essentials and use the parts.”
The Edge SME Forum 2018 was themed: “The Circular Economy: An Amazing Untapped Opportunity.”
Azim, our Innovation Strategist, spoke on the urgency for small and medium enterprises (SMEs) to jump on the circular economy bandwagon.
For more details on the event, check this link.