Marking what can be seen as a new dawn to waste management and a more robust economy, the Federation of Thai Industries (FTI), Department of Industrial Works, and the National Science and Technology Development Agency have inked a pact. The trio are on a quest to combat waste by working collaboratively.
The president of FTI, Kriengkrai Thiennukul, sounds an urgent clarion call. His thesis centres on how Thailand can bolster its competitive streak. He channels his focus not in one or two, but three essential points, namely; robust investments in burgeoning high-tech industries, bracing for an ageing society which he predicts could see a shocking drop from the current 75 million to a mere 33 million individuals by the time we reach 2075, and fortifying alignment with global trade rules corresponding to environmental, social and governance norms.
Every layer of the industrial ecosystem, ranging from waste producers through to waste transporters all the way to waste processors, are all required to adopt the essence of a circular economy to navigate these changes. In an inventive move, a Circular Material Hub has been founded to facilitate the exchange and the recycling of waste or surplus material, and in the process serving as a launchpad for new value-creation and job prospects. The scheme is designed around the concept of converting waste from one industry into raw material for another.
The masterstroke to obliterate waste in Thailand calls for the combined might of the entire supply chain. The strategic focus includes: the ensurance of adding value to industrial waste, the encouragement of research and development participation to boost the value of industrial waste in the formulation of new products and in fostering a low-carbon, sustainable society, and the development of standards and regulations to endorse the advantageous use of waste.
The private sector needs to play ball and bow to government rules to back these initiatives. The mechanism of certification and standardisation becomes paramount here, playing a facilitative role in spurring everyone on to play a part in the circular economy. But, more than just mechanical adjustments, what’s really required is a shift in viewpoint. Rather than viewing waste as something discarded, it’s time to realise that it holds potential for value creation and economic enhancement, as highlighted by Kriengkrai.
Evidently, waste generation is a by-product of the industrial sector. However, with the right methods in place, waste can be spun into something of value. This tactical approach promises not just a reduction in waste, but also a new revenue stream and the way forward to sustainable development, as envisioned by Kriengkrai.
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