In Thailand, an innovative collaboration between the Federation of Thai Industries (FTI), the National Science and Technology Development Agency, and the Department of Industrial Works is underway, carrying an ambitious agenda of waste reduction. This initiative sets out on a mission that seeks to minimize waste by leveraging advanced science and technology while ensuring alignment with the country’s industrial operations.
The torchbearer of this impressive initiative, FTI President, Kriengkrai Thiennukul, outlines the three vital avenues where Thailand needs to gain traction to bolster its competitive stance. Firstly, there’s a need to fuel investments into high-tech industries that form the groundwork of future economies. Secondly, Thailand needs to gear up for a rapidly aging society where the population is projected to dip from 75 million to approximately 33 million by the year 2075. Last but not least, the nation must adapt to new age global trade norms that marry well with environmental, social, and governance benchmarks.
This undertaking appreciates the role of all industrial players in the waste chain – the generators, transporters, and processors – and underscores the necessity for the adoption of a circular economy approach. This led to the creation of the Circular Material Hub, a revolutionary platform facilitating the exchange and reuse of waste and unused materials. The ultimate aim of this transformation is to repurpose waste from one industry into a valuable resource for another, creating a synergistic value generation system.
Envisaging zero waste in Thailand is an all-encompassing endeavour that stretches across the whole supply chain. Its primary objectives include enhancing the worth of industrial waste through substantial value addition, spurring research and development to unlock the potential of waste in product development while supporting a low-carbon, sustainable society, and setting sound standards and regulations to advocate the beneficial use of waste.
However, the realisation of these ambitious goals calls for the private sector’s commitment. They need to remain compliant with government regulations that support these objectives. The processes of standardisation and certification bear significant importance in inspiring people’s participation in the circular economy. It’s time for a paradigm shift in our mindset, Kriengkrai asserts, urging people to see waste not as mere refuse but as a resource with immense potential for value creation and economic development.
The industrial sector undeniably contributes to waste generation, but if managed appropriately, waste represents an untapped pool of value. Employing strategic waste management can significantly cut down waste levels, churn out profits, and pave the way for sustainable, responsible growth, Kriengkrai concludes.
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