ASEAN’s economic resilience is increasingly threatened by resource depletion, unsustainable patterns of raw material consumption, inefficiencies throughout product value chains, and climate change.
A circular economy is restorative, regenerative by design, and makes effective use of materials and energy to retain their value. Competitiveness, efficiency, and resilience are at the heart of the circular economy.
While circular economy initiatives already exist in the AEC, most of the circular economy programmes in ASEAN have been focused on the environmental perspective, with limited role of trade, technological innovations, and financial markets – which are imperatives for accelerating the circular transformation.
ASEAN can take an inclusive approach to policymaking by facilitating active participation from all relevant stakeholders, including the broader public.