Page 43 - Shelter - April 2025

POLICY REVIEW

can incentivise businesses the circular economy. other countries are still in
to adopt circular practices. Companies in the region the early stages of policy
For example, Japan and have pioneered new development, with some
the Republic of Korea have business models, such as formulating roadmaps and
implemented Extended Vietnam’s Glassia Water, calls to action.
Producer Responsibility which offers bottled water UN-ESCAP’s report titled
(EPR) systems that as a service using refillable “The secrets to unlocking the
hold manufacturers glass bottles. Additionally, next frontier for a circular
accountable for their regenerative agriculture economy in the Asia-Pacific
products entire lifecycle, initiatives in China region” identifies various
including post-consumer exemplify how innovative policies across the region, each
waste management. These practices can contribute to at different stages of maturity,
regulations encourage circularity. from early stage frameworks
businesses to design to fully implemented policies
products with recyclability 6. Collaboration: through enacting laws,
in mind and promote the Collaborative efforts regulations, and/or economic
use of recycled materials. between governments,
businesses, and other or fiscal incentives. These
3. Education: Education stakeholders are crucial policies cover critical areas
and capacity building are for scaling up circular such as waste management,
critical for equipping the solutions. Industrial recycling, and resource
workforce with the skills symbiosis, as seen in efficiency. Policy development
needed to support circular Japan’s Kitakyushu Eco- and implementation lessons
economy activities. town project, demonstrates learned include:
Programs such as Toyota’s how businesses can 1. Trade policies need to align
employee training on collaborate to turn waste with circular economy
sustainable practices are from one entity into goals to avoid negative
essential for fostering a resources for another, spillovers and support
circular mindset.
maximising resource global sustainability efforts.
4. Finance: Financial efficiency and reducing 2. The success of new circular
instruments, including environmental impacts. economy policies also
public and private Policy Landscape and relies on the effective
funding, are vital to scaling Maturity enforcement of existing
up circular economy waste management
initiatives. Companies Governments in the Asia- and other related
like Nestle and Indorama Pacific region have made environmental regulations.
Ventures have benefited varying levels of progress in
from green financing developing circular economy 3. Society needs to be
frameworks and blue policies. Japan, the Republic engaged to embrace
loans, enabling them to of Korea,and China are at the shifts in consumption
invest in practices such as forefront, with comprehensive patterns and ensure their
recycling infrastructure policies already implemented, success. This is crucial
and renewable energy such as Japan’s Circular when implementing
production. Economy Vision 2020 and circular economy policies.
the Republic of Korea’s EPR A significant obstacle
5. Innovation: Innovation is is the frequent focus
at the core of advancing framework. However, many

April, 2025, Volume 26. No.1 - SHELTER 41