ISLAMABAD: The daunting eco-friendly economy development appears to be in global transitioning to a circular economy where materials are reused, re-manufactured or recycled, which can significantly reduce carbon emissions and deliver over US$1 trillion in material cost savings by 2025 (World Economic Forum, Towards the Circular Economy). In a statement, United Nations Industrial Development Organization (UNIDO) Director General LI Yong and Officer-in-Charge of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Hongjoo Hahm marked their optimism for making Pakistan’s economy more sustainable. They said that the benefits for Asia and the Pacific would be huge. “But to make this happen, the region needs to reconcile its need for economic growth with its ambition for sustainable business.” “Today, the way we consume is wasteful. We extract resources, use them to produce goods and services, often wastefully, and then sell them and discard them. However, resources can only stretch so far. By 2050, the global population will reach 10 billion. In the next decade, 2.5 billion new middle-class consumers will enter the fray. If we are to meet their demands and protect the planet, we must disconnect prosperity and well-being from inefficient resource use and extraction and create a circular economy, making the shift to extending product lifetimes, reusing and recycling in order to turn waste into wealth,”they added. The DG said that these imperatives underpin the 5th Green Industry Conference held in Bangkok this week hosted by the United Nations Industrial Development Organization (UNIDO) in partnership with the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the Royal Thai government. LI Yong and Hongjoo Hahm said the goal was to embed sustainability into industries. “Action in Asia and the Pacific could make a major difference. Sixty percent of the world’s fast moving consumer goods are manufactured in the region. Five Asia-Pacific countries account for over half of the plastic in the world’s oceans. The region’s material footprint per unit of Gross Domestic Product is twice the world average and the amount of solid waste generated by Asian cities is expected to double by 2025.” They said that if companies could build circular supply chains to reduce material use and increase the rate of reuse, repair, re-manufacture and recycling – powered by renewable energy – the value of materials could be maximized. This would cushion businesses, manufacturing industries in particular, from the volatility of commodity prices by decoupling production from finite supplies of primary resources. This is increasingly important as many elements vital for industrial production could become scarce in the coming decades, they said. “With these goals in mind, the United Nations is working with governments and businesses to support innovation and upgrade production technologies to use less materials, energy and water,” the UN officials said. UNIDO is engaged with industrial sectors, they said, from food production to textiles, from automotive to construction. “Over the past 25 years, its network of resource efficient and cleaner production centres has helped thousands of businesses to green their processes and their products. The Global Cleantech initiative has supported entrepreneurs to produce greener building materials. Industrial renewable energy use is being accelerated by the global network of sustainable energy centres. New business models such as chemical leasing help reduce chemical emissions. And the creation of eco-industrial parks has contributed to the sustainable development of our towns and cities.” In Asia and the Pacific, the UN is intensifying its efforts to reducing and banning single use plastics. The Platform for Accelerating the Circular Economy is implementing programmes to reduce plastics consumption, marine litter and electronics waste, and encourage sustainable procurement practices. UNESCAP is identifying opportunities in Asian cities to return plastic resources into the production cycle by linking waste pickers in the informal economy with local authorities to recover plastic waste and reduce pollution. The 5th Green Industry Conference is an opportunity to give scale to these efforts. “The gap between our ambition for sustainability and many business practices is significant. So it’s essential for best practice to be shared, common approaches coordinated, and success stories replicated. We need to learn from each others’ businesses to innovate, sharpen our rules and increase consumer awareness. Let’s step up our efforts to build a circular economy in Asia and the Pacific.” Published in Daily Times, October 15th 2018.