Vietnam Investment Review
Author: Quang Bao
Around 11 million tonnes of plastic waste flows into the oceans each year – a figure set to nearly triple by 2040. Now more than ever, nations and various organisations are springing into action in an attempt to accelerate an efficient circular economy in order to help save the planet.
More global examples of circular economy initiatives and technologies already underway include Swedish denim brand, Nudie. It offers a lifetime repair service on its jeans and says it repaired more than 60,000 pairs of jeans in 2019 alone. When it comes to these types of services in Southeast Asia, this region in particular continues to suffer from low recycling rates despite the rapid growth of consumption. About 80 per cent of post-consumer waste could technically be recyclable; however, global figures have languished at around 9 per cent. That is according to Ellen Martin, director of impact and insights at The Circulate Initiative; and Delterra’s director of partnerships Jeremy Douglas.