2024年3月20日星期三

ISE x RIAM Seminar – Development and Assessment of Circular Economy Strategies

PolyU ISE and RIAM seminar named “Development and Assessment of Circular Economy” was held on 20th Mar 2024. Prof. Hwong-wen Ma (National Taiwan University) was guest speaker. His talk content structure was vision, principle, objective, strategy, goal, target and development of the circular economy.


In the beginning, Prof. Ma introduced “Vision” model named doughnut economics that the first circle is environmental ceiling and the second circle is social foundation. Its’ principle included resource efficient and climate neutral. 


Then he explained the objective for resource and impact decoupling. The strategy named “Resource as a lever” was discussed that an integrated approach to managing energy, raw materials, environmental and financial resources on a sustainable and efficient basis over the full cycles of goods and services.


This strategy implemented as sustainable resource management (consumption and production) from green economy efficiency to risk management resilience.


And then the goal was “how much resource efficiency needed” that closed the gap by 50% to 70%. The target is retaining value through three models and they were “Circular Design”, “Optimal Use” and “Value Recovery”. 


After that the business models were discussed from circular supplies to resource recovery. Circular Economy defined “Being restorative and regenerative by design, keeping products, components, and materials at their highest value at all times, through system-wide innovation of materials, products, business models and value chain.”


The evolution of the terms for circular economy was showed. I like the spaceship earth economics that implied earth is a spaceship.


Finally, the global trend on production, consumption, waste and secondary materials were mentioned. There were five directions included i) Product as focus, ii) Regulation and investment as driver, iii) Standardization as scalability promoter, iv) Digitalization as connecter, and v) Collaboration as path.


The summary diagram was demonstrated those directions relationship.


For circular economy, data collection is significant. Thus, digitalization and industry 4.0 are important technology to be employed. 


Prof. Ma also stated the change role of EPD that more focused on resource efficiency together with environmental impacts.


Lastly, he introduced some research tools on the integration of assessment methods including product and material flow analysis, resource and waste input-output analysis, multimedia environmental fate modeling and life cycle assessment and risk assessment. 


He demonstrated material flow analysis in Taiwan. 


As well as, liking driving forces and consequences showed in Taiwan.


At the end, the broad agenda was introduced that included environment, society and economy.


In Q&A session, more than 100 participants joined this seminar online. I asked questions about i4.0 and economy as well as customer behavior for purchasing environment friendly product.

Reference:

20180409: IISE Seminar on “Introduction of Circular Economy and how this Business Model creates Values to Stakeholders” - https://qualityalchemist.blogspot.com/2018/04/iise-seminar-on-introduction-of.html

20170221: HKSTP Seminar on Know More about Circular Economy - https://qualityalchemist.blogspot.com/2017/02/hkstp-seminar-on-know-more-about.html

 

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