Circular Economy in Emerging Markets: Unlocking the Potential of a Green Recovery in Asia

On June 2, the Ministry of Natural Resources and Environment in collaboration with the Asian Development Bank (ADB) and the SITRA Innovation Fund (Government of Finland) organized a webinar on Circular economy in markets. Emerging: Unlocking the potential of Green Recovery in Asia.
This is the Asia regional event of the World Circular Economy Forum in response to World Environment Day, launching the Decade of Ecosystem Restoration to prevent and reverse the degradation of ecosystems. all around the world.

The workshop aimed to promote the potential of a circular economy supporting COVID-19 recovery; discuss barriers to integrating circular economy into sustainable development frameworks; building capacity of countries in policy making towards a sustainable circular economy; as well as review best practices and case studies in the transition to a circular economy.

Webinar Circular Economy in Emerging Markets: Unlocking the Potential of Green Recovery in Asia

According to Vietnam’s Minister of Natural Resources and Environment Tran Hong Ha, implementing a circular economy is a way for Vietnam to fulfill its international responsibility in implementing its commitments on environmental protection and climate change. implementing nationally determined contributions (NDCs), helping businesses reduce risks of overproduction and resource scarcity; create motivation to invest, innovate technology, reduce production costs, expand supply chains, and at the same time create new markets, new job opportunities, improve the health of people, communities and the world nature.

Vietnam has institutionalized the circular economy in the Law on Environmental Protection, which stipulates that the circular economy is an economic model in which the design, production, consumption and service activities aim to minimize the exploitation of the environment. extraction of raw materials, prolonging product life cycle, limiting waste generation and eliminating negative impacts on the environment.

To transition to a circular economy in a systematic and comprehensive manner requires the participation of all levels, sectors, the business community and the people. According to Mr. Tran Hong Ha, Vietnam currently has consensus from the Party’s policy, in which, the 13th National Congress of the Party has clearly indicated, the period to 2025: Developing a roadmap , mechanisms, policies and laws to form and operate the circular economy model.

The Minister also added that this content has been realized through the Law on Environmental Protection 2020. “The law clearly specifies the responsibilities of ministries, ministerial-level agencies and provincial People’s Committees in implementing economic integration. circular economy right from the stage of developing strategies, master plans, plans, programs and projects; waste management, reuse and recycling” (Article 142). This circular economy thinking is also integrated in other Articles and Clauses such as promoting green public spending (GPP); extended manufacturer liability (EPR); environmental industry development; environmental services…

According to the provisions of the Law on Environmental Protection in 2020, the Ministry of Natural Resources and Environment is presiding over and coordinating with relevant agencies to develop regulations on “criteria, roadmap and mechanism to encourage the application of this business.” circular economy in Vietnam”, in which, the roles and responsibilities of ministries, branches and localities are clearly defined in the Law on Environmental Protection in association with the roadmap for implementing and implementing the circular economy in Vietnam. .

“The Law on Environmental Protection 2020 will promote the implementation of the circular economy; it is a way for Vietnam to fulfill its international responsibility in fulfilling its commitments on environmental protection and climate change; Nationally Determined Contributions (NDCs), while helping businesses reduce the risks of overproduction and resource scarcity, as well as creating incentives for investment, technology innovation, and cost reduction production costs, expanding supply chains, creating new markets, new job opportunities, improving the health of people, communities and the natural world,” said Minister Tran Hong Ha.

Specifically, in order to transition to a circular economy, Vietnam focuses on product design and technological processes to create products in order to minimize the exploitation of raw materials, non-metals, non-metals, and energy. , fossil fuels, biomass, and at the same time eliminate waste and pollutants throughout the product supply chain from design, extraction, processing, production, distribution, consumption, collection, distribution waste sorting, treatment and recycling. The design is assessed by scientists around the world to determine 80% of the waste generated in the economy, so Vietnam considers this a decisive breakthrough.

Vietnam will keep products and materials in maximum use in the economy through the 9R strategy (Reject, reduce, redistribute/reuse, remodel, refurbish, remanufactur, etc.) repurposing, recycling, energy recovery and waste recycling).

Vietnam will promote the regeneration and restoration of natural ecosystems. “When implementing a circular economy, Vietnam not only aims at

To reduce the exploitation of raw materials, fossil fuels, primary forests, natural water sources and reduce waste, greenhouse gas emissions, reduce landfilling and incineration of waste without energy recovery, but also put The objective is to regenerate natural ecosystems, protect, conserve and develop the natural capital of land, water, forests, sea and biodiversity, and protect living things on land and in water.

At the Circular Economy in Emerging Markets Webinar on June 2, 2021, Ms. Elina Kalkku, Deputy Minister of Foreign Affairs of Finland and Governor (representative of Finland) at the European Development Bank Asia believes that countries need to further promote the change of development models. Ms. Elina Kalkku said that she would call on the EU to promote and come up with green agreements to change the modes of economic growth to support countries to “greener their economies” further, more circularly…

Talking about financial issues, Mr. Ramesh Subramaniam, Director General of Southeast Asia Department, Asian Development Bank (ADB) said that it is necessary to develop better supportive policies and provide legal frameworks. appropriate, minimizing risks to mobilize capital from the private sector, thereby, building a more diversified circular economy.

In addition, at the workshop, the delegates also discussed relevant principles and recommendations, focusing on green recovery and economic growth in the post-COVID-19 period. At the same time, exchange and discuss legal and regulatory frameworks, regional and national policies, opportunities for the private sector and innovation in cities that can help unlock the potential of circular economy approach.

Although Vietnam does not have a national program framework for Circular Economy, the content of the circular economy has been reflected in many national development strategies and policies in the past period. For Industry and Trade, up to now, initiatives and models of the circular economy have also produced encouraging initial results.

In recent years, the cleaner production model (CP) has been promoted and widely applied. According to statistics of the Ministry of Industry and Trade, up to now, nearly 350 enterprises and production facilities have been supported for rapid assessment, and 90 enterprises supported for CP application have become point models of CP application.

Through these activities, businesses and production units have become more aware and proactive in applying cleaner production solutions to reduce waste generation, consumption of raw materials, energy and water, and save money. production cost savings for businesses. Thereby, businesses and production units have gradually proactively fully implemented the legal provisions on environmental protection.

After 10 years of implementing the Cleaner Production Strategy in industry, up to now, 68.5% of enterprises are aware of the benefits of CP application, an increase of 20.5% compared to 2010. 46.9% of production facilities applied cleaner production, an increase of 35.9% compared to 2010, 12% of which achieved savings of 8% or more in reducing energy and fuels per unit of product. In addition, 21% of medium and large enterprises have a department dedicated to cleaner production.

Author: Mai Anh
The source: https://moit.gov.vn/bao-ve-moi-truong/kinh-te-tuan-hoan-tai-cac-thi-truong-moi-noi-khai-mo-tiem-na2.html