KUALA LUMPUR: A circular economy can aid in bringing sustainable benefits for Malaysia, in tandem with opening up opportunities that can profit businesses in the long run.

This was the key message threading through the different sessions of day one of the Circular Economy Conference (CEC) 2021.

Those keen to attend the second day of the conference, to be held on July 15, can register at bit.ly/CircularEconCon2021 to understand the benefits and importance of implementing and incorporating circular economy policies into business practices and gain insights from thought leaders and industry leaders onhow they can tap into the existing gaps in the circular economy to take the next step in the journey. The Circular Economy Conference (CEC) 2021 is part of Star Media Group’s 50th Anniversary knowledge-sharing and educational initiative and is supported by platinum sponsor UOB Malaysia Bhd and gold sponsor Malaysian Global Innovation and Creativity Centre (MaGIC).

While the first day focused on an overview on the circular economy with a bird’s eye view on the topic, the second day will dive further into actionable insights and knowledge-sharing from businesses that are leading the way.

To start off, there will be a panel discussion on the 3Ps of Sustainability, which will see the participation of BASF (Malaysia) Sdn Bhd managing director and Malaysia-Singapore business area head Goh Eng Leong, iHandal Energy Solutions chief executive officer (CEO) Aaron Patel and Green Growth Foundation executive director Dr Mahadi Mohamad. The session will be moderated by BDO Malaysia advisory executive director Pam Lee Wen Ai.

In order to facilitate other businesses keen to tap into opportunities in the circular economy, CEC 2021 will also be inviting industry players to share their case studies and experiences.

This includes ChopValue CEO and founder Felix Bock on Making Waste A Resource; Malaysian Global Innovation and Creativity Centre (MaGIC) social innovation team assistant manager David Lim, ERTH founder Mohamed Tarek El-Fatary in Buy for Impact: Creating Impact, One Purchase at a Time; UOB group wholesale banking oil, gas and chemicals head Joseph Poh on Trends and Opportunities for Plastics Recycling in the Circular Economy for the first half of the conference.

After the morning break, Fathopes Energy CEO and founder Vinesh Sinha will share on creating a Multi-Bottom Line Business Model to Create Significant Impact Hydroleap CEO and founder Dr Mohammad Sherafatmand in Revolutionising Water Treatment; Landasan Lumayan managing director Syaiful Azmen Nordin on Diverting Waste from Landfills; and lastly, Biji-Biji Initiative group CEO Rashvin Pal Singh on Capturing the Value of Waste.

Day one highlights

The first day of the conference kicked off with a keynote speech by UOB chief sustainability officer Eric Lim, who noted that transitioning from today’s linear economy to a circular one could generate US$4.5tril (RM18.9tril) in annual economic output by 2030, meaning that businesses will do well to heed the winds of change and adapt their business to include environmental, social and governance considerations.

Instead of the current one-way model, which exploits resources and is carbon-intensive, the circular approach would keep products and materials in the economy as long as possible

Lim’s keynote speech was followed by a session by Malaysian Investment Development Authority deputy CEO Ahmad Khairuddin Abdul Rahim, who shared information on government policies, investment facilitation and benefits for businesses and investments that focus on closing the loop in the circular economy.

It also held two panel discussions, namely a session titled Investments and Innovations and another titled Reshaping the Industrial Ecosystem with the Circular Economy. These featured MaGIC senior vice president Mohd Safuan Mohd Zairi, UOB senior economist Julia Goh, Greenbulb Energy founder and managing director Andy Low, Malaysian Green Building Council member BK Sinha, Heng Hiap Industries founder and CEO Sean Kian Hoe, PwC Malaysia sustainability and climate change leader Andrew Chan and EcoKnights programme director Fadly Bakhtiar.

The Circular Economy Conference (CEC) 2021 is part of Star Media Group’s 50th Anniversary knowledge-sharing and educational initiative and is supported by platinum sponsor UOB Malaysia Bhd and gold sponsor Malaysian Global Innovation and Creativity Centre (MaGIC).

Thoughts to ponder: Day one of the CEC 2021 gave an overarching view on Malaysia’s progress towards a circular economy, such as in the panel discussion Investments and Innovations, which featured (from left) PwC’s Chan, UOB’s Goh and MaGIC’s Mohd Safuan.