BEC Sustainable Business Theatre

The transition from a linear to a circular business model is one of the biggest transformations that organisations are experiencing today. We are presented with a golden opportunity to move away from traditional economic paradigms based on growth and profitability, and towards a new model which aims to secure businesses’ own existence by recognising that resources are not indefinite, and demands new value propositions, channels, products and services that reduce resource dependency and waste, keep resources in circulation for as long as possible, and regenerate natural systems.

The real estate industry is one of the biggest consumers of virgin resources and emitters of solid waste streams globally. Shifts in occupant expectations, technology use and investor requirements are giving rise to the need for a circularity mindset – with the aim of keeping businesses relevant as well as supporting their license to operate in the face of fast-changing social and environmental considerations.

By designing out waste and pollution and keeping resources in use, businesses can start to embrace circularity in the very place that defines them – the office. Hear from leaders in the space on how circular economy practices are incorporated in the whole lifespan of an office – from the fixtures and fittings of the building, to office design, furnishings and consumables, daily operation and eventual deconstruction.

Every year millions of tonnes of clothes are produced, worn and discarded. According to a report by the Ellen MacArthur Foundation, clothing production has doubled in the past 15 years, while clothing utilisation has decreased by 36%. As the industry grapples with minimising its much debated environmental impact, fashion brands and industry stakeholders are seeing a move towards conscious consumption and the need to embed circular thinking across all aspects of production and operations.

A shift to a circular economy model offers huge opportunities for private sector players to deliver on climate commitments and ESG objectives, as well as tap into new sources of growth and long-term value creation. However, an economy-wide circular transition calls for the agenda to move beyond individual industries – and to capitalise on multi-stakeholder groups and public-private collaboration to help set the right direction and leverage the playing field for all.

The COVID-19 pandemic had no doubt made an unprecedented impact on the hospitality industry. As the world emerges from the pandemic era, the need for hospitality leaders to reassess operations and set new goals and strategies to reduce waste and resource consumption in line with changing consumer expectations will be key in its pathway to recovery and industry sustainability.

Most packaging is designed to be used and discarded in a linear process that results in enormous waste and pollution, particularly where plastics are concerned. As consumer attention on their environmental impact heightens, companies are driven to rethink their role in our economy’s transition to a more circular model, the entire lifecycle of products, and the momentum for innovations and investment in responsible packaging.

Environment, Social and Governance (ESG) implementation does not only impact large enterprises, but also SMEs under the shifting business paradigm and regulatory approach. It is essential for SMEs to take early actions to adapt to new business environment and social expectations. The Hong Kong Government also released the “Hong Kong’s Climate Action Plan 2050” with the goal and strategies of achieving carbon neutrality locally, which will set the scene for local industrial and commercial sectors. As a relatively carbon-intensive sector, manufacturing SMEs must consider early investment on green transformation to cope with the expectations from client side. This session will discuss good practices and challenges of manufacturing SMEs in implementing ESG, and the strategies in enhancing business resilience and competitiveness effectively with limited resources.

Accurate and timely data is an important element in ESG management to assist enterprises quantifying their performances in environmental, social and governance factors with objective standards and methods. In recent years, ESG data has become a critical consideration for investors, clients or regulators in decision-making, calling on SMEs to prioritise ESG data management on their agenda. This session will discuss the importance of ESG data for SMEs and how data can be effectively utilised to help review performances, identify supply chain risks, make crisis management decisions and draw business and investment opportunities.