The current take-make-waste extractive industrial model has had far-reaching negative implications for the global climate, scarce natural resources, and biodiversity. Revised economic models could help transform consumption and make it more sustainable. In a circular economy, production and consumption encompass sharing, leasing, reusing, repairing, refurbishing, and recycling materials and products as long as possible, extending product life cycles and keeping materials within the economy wherever possible.

COVID-19 recovery efforts in developing economies in Asia could follow a traditional growth strategy that relies on carbon- and resource-intensive production. By contrast, the pursuit of a green recovery could deliver growth built on resource efficiency and business innovation that promotes transition to a circular economy. This will require innovative policymaking, prompting government officials to consider new examples and ideas.

Organized by ADBI, the Finnish Innovation Fund Sitra, and Institute of Strategy and Policy on Natural Resources and Environment, Viet Nam, this regional side event of the World Circular Economy Forum featured policy papers that examine case studies of the successful implementation of circular economy principles and related recommendations, focusing on a green recovery and economic growth in the post-COVID-19 era. Specific topics of discussion included regulatory and legal frameworks, regional and country policies, opportunities for the private sector, and innovation in cities that could help unlock the potential of a circular economy approach.

See more about this ADBI event.