Brunei SMEs join circular economy masterclass

Posted on  15/05/2024  |  Media Centre

Asia Inc Forum and Baiduri Bank organised a ‘Finding a Path to Profits and Growth with the Circular Economy’ masterclass on Wednesday.

The class, part of Transform 2024 programme, was led by Professor Scott Valentine, author of five books who is also a circular economy expert, thought leader, Professor of Regenerative Planning, Circular Economy and Entrepreneurship at Universiti Brunei Darussalam and chairperson of Asia Circular. Valentine has led major research projects in Japan, Denmark and Holland.

Valentine provided advice on circular economy as well as insights, knowledge and best practices for integrating its principles into business operations. He also provided learning strategies and actionable steps for implementing circular economy principles.

The expert emphasised on connecting with like-minded individuals sharing a passion for sustainability for ideas exchange and learning about case studies and success stories from regions that successfully embraced the circular economy.

Valentine also covered design thinking around ‘ReSOLVE’ Framework – regenerate, share, optimise, loop, virtualise and exchange.

The professor said he hopes the masterclass inspired, empowered and equipped small and medium enterprise (SME) founders, owners and managers with the knowledge and confidence to embrace the opportunities that emerge with the creation of circularity towards achieving Brunei Vision 2035 and a sustainable future for Brunei.

Chief Executive Officer Ti Eng Hui of Baiduri Bank, principal partner and presenting sponsor of Transform 2024 programme, said the class is an important meeting for Brunei SMEs to learn about circular economy and understand its significance.

“Only nine per cent of the world’s economy is circular and 91 per cent is linear with a ‘take-make-dispose’ model resulting in substantial resource depletion and waste generation.

According to Accenture, the circular economy of ‘recycle, reuse or repurpose’ could unlock USD4.5 trillion in business opportunities by 2030, driven by innovation, resource efficiency and new business models. This is what we wish many of our SMEs would embrace,” said Ti. – Lyna Mohamad

Scott Valentine during the masterclass. PHOTO: ASIA INC FORUM