Circular economy a choice for sustainable development | Business | Vietnam+ (VietnamPlus)

Developing a Circular Economy for Sustainable Development

The circular economy model has emerged as a visionary solution for society and the economy amidst worsening environmental pollution and natural resource exhaustion. In Vietnam, many new production and business models approaching a circular economy are being implemented rather successfully in the private sector, creating many opportunities for the economy, as reported by Nhan dan (People) daily.

Eco-Industrial Parks and Foreign Direct Investment

Eco-industrial parks in Ninh Binh province, Can Tho city, and Da Nang city are examples of successful implementation of circular economy practices, helping save millions of US dollars each year. The foreign direct investment (FDI) sector has also played a dynamic role in promoting the circular economy by devising plans to recycle waste and by-products through modern processes.

For instance, Nestlé is producing unbaked bricks from boiler waste, fertilisers from non-hazardous waste mud, and eco roof sheets from milk cartons. It also plans to recycle and reuse 100% of product packages by 2025. Meanwhile, nearly 99% of waste or by-products of Heineken Vietnam have been reused or recycled, and four of its six beer breweries are using heat energy generated from renewable energy and low-emission fuels. Unilever Vietnam is implementing a programme on collecting and recycling plastic packages and sorting waste at source.

In the textile-garment sector, some enterprises have recycled fabric scraps into new fabrics and used them as part of new clothes labelled “CE”, which enables products to be sold in Europe and the European Free Trade Association (EFTA).

Challenges and Benefits

However, experts have noted that production and business models of a circular economy have not become popular in Vietnam. Most enterprises still focus on short-term targets, while the circular economy creates long-term values. Additionally, there are shortages of legal and infrastructure conditions, low demand for circular and replaceable products, a lack of experts in this field, and the current GDP calculation methodology does not give due attention to social and environmental factors.

Despite these challenges, the circular economy generates a number of benefits for the economy. Each change starts from small actions, and it is necessary to place hope in this model and encourage the parties concerned to support and follow, said Director of the National Startup Support Centre Pham Dung Nam as cited by Nhan dan.

The Circular Economy for Sustainable Development

Developing a circular economy is even harder than promoting innovation because innovation focuses on the economic aspect while a circular economy balances both business and environmental protection dimensions, according to the newspaper.

The Party and State have affirmed their viewpoint on developing a circular economy to achieve sustainable development. On February 11, 2020, the Politburo issued a resolution on orientations for the national energy development strategy by 2030, with a vision to 2045. This document affirms the priority for renewable energy and waste-to-energy plants to protect the environment and develop the circular economy. The 2020 Law on Environmental Protection officially includes regulations on this economic model.

The plan on developing the circular economy in Vietnam, approved by the Prime Minister on June 7, 2022, identifies the circular economy development as inevitable, matching the global trend and the requirement for making breakthroughs in economic recovery and realization of the Sustainable Development Goals.

Pham Hong Quat, Director of the National Agency for Technology Entrepreneurship and Commercialization Development, said that in the context of global economic integration, Vietnam has joined a number of new-generation free trade agreements with many countries and regions. These deals include commitments on environmental safety, making the adoption of the circular economy model an inevitable trend to achieve sustainable development.

Measures for Circular Economy Development

Suggesting several measures, Dr Nguyen The Chinh, former Director of the Institute of Strategy and Policy on Natural Resources and Environment, noted that the State should continue fine-tuning policies and laws, issue regulations and standards on circular economy development that are in line with regional and global trends, and use tools such as technical standards and taxes to minimize resource overexploitation and waste during the production process.

It is also necessary to convert to a growth model based on efficient use of natural resources, encourage enterprises to adopt practices of a circular economy, and issue strict rules on companies’ responsibility for their waste, he added.

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 7: Affordable and Clean Energy
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 12: Responsible Consumption and Production
• SDG 13: Climate Action
• SDG 14: Life Below Water
• SDG 15: Life on Land

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 7.2: Increase substantially the share of renewable energy in the global energy mix.
• Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
• Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.
• Target 12.5: By 2030, substantially reduce waste generation through prevention, reduction, recycling, and reuse.
• Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning.
• Target 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds.
• Target 15.2: By 2020, promote the implementation of sustainable management of all types of forests, halt deforestation, restore degraded forests, and substantially increase afforestation and reforestation globally.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Indicator 7.2.1: Renewable energy share in the total final energy consumption.
• Indicator 9.4.1: CO2 emissions per unit of value added.
• Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP.
• Indicator 12.5.1: National recycling rate, tons of material recycled.
• Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning measures into primary, secondary, and tertiary curricula.
• Indicator 14.1.1: Index of coastal eutrophication and floating plastic debris density.
• Indicator 15.2.1: Progress towards sustainable forest management.

Table: SDGs, Targets, and Indicators

SDGs	Targets	Indicators
SDG 7: Affordable and Clean Energy	Target 7.2: Increase substantially the share of renewable energy in the global energy mix.	Indicator 7.2.1: Renewable energy share in the total final energy consumption.
SDG 9: Industry, Innovation, and Infrastructure	Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.	Indicator 9.4.1: CO2 emissions per unit of value added.
SDG 12: Responsible Consumption and Production	Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.	Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP.
SDG 12: Responsible Consumption and Production	Target 12.5: By 2030, substantially reduce waste generation through prevention, reduction, recycling, and reuse.	Indicator 12.5.1: National recycling rate, tons of material recycled.
SDG 13: Climate Action	Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning.	Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning measures into primary, secondary, and tertiary curricula.
SDG 14: Life Below Water	Target 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds.	Indicator 14.1.1: Index of coastal eutrophication and floating plastic debris density.
SDG 15: Life on Land	Target 15.2: By 2020, promote the implementation of sustainable management of all types of forests, halt deforestation, restore degraded forests, and substantially increase afforestation and reforestation globally.	Indicator 15.2.1: Progress towards sustainable forest management.

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: en.vietnamplus.vn

 

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