JAKARTADAILY.ID - The G20 Forum paid special attention to the circular economy concept, as the idea to regenerate resources, and more sustainable consumption and production pattern is seen as one of the potential solutions for global recovery after the Covid-19 pandemic disrupted the world's economy.
The term "circular economy" comes from the idea that resources, when adequately treated and regenerated, can become a source of sustainable economic growth, supported by eco-innovations whilst preserving natural capital, as the Economic Research Institute for ASEAN and East Asia (ERIA) explained in its official website.
This workshop was held in cooperation with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the Indonesian Research Institute for Decarbonization (IRID), and the Global Solutions Initiative (GSI).
ERIA is an international organization established in Jakarta, in 2008 by a formal agreement among leaders from 16 countries in the East Asian region.
Its mission is to conduct research activities and make policy recommendations for further economic integration in East Asia.
According to ERIA's report, the September workshop discussed how the circular economy is compared with the linear economy. The first promotes greater collaboration between economic actors and can become a powerful force for climate change mitigation, biodiversity conservation, and local pollution impact reduction.
The workshop, which had Mr. Koji Hachiyama, ERIA’s Chief Operating Officer, addressing the welcoming remarks, also highlights some issues on how to be "critical" in identifying opportunities to shift swiftly towards a more just, equal, and circular society, instead of going back to linear, wasteful, and inherently fragile supply chains.
"The workshop discussed the innovative and context-sensitive technologies in support of circular economy; the transfer, uptake, and scaling of the use of technology together with adequate public financial mechanisms; and mobilization of private capital, which are fundamental in ensuring a transformative, inclusive, and sustainable recovery," ERIA said in its website eria.org.
Dr. Moekti Handajani Soejachmoen, Lead Co-Chair of the T20-Task Force 3 offered his presentation titled Governing Climate Target, Energy Transition, and Environmental Protection, in which he pointed out that efforts to build a circular economy are timely.
However, as part of the global energy transition and net zero emission efforts, he said such efforts should mitigate crucial social and economic impacts to achieve a just transition.
H. E. Izabella Teixeira, Co-Chair of the International Resource Panel, and Brazil’s former Minister of Environment highlighted the primacy of pushing circular economy actions as a global macroeconomy priority in the global supply and value chains.
She added that multiple options to develop a circular economy should be considered not only by the government but also by all public and private stakeholders.