News

Circular economy might uplift Indonesia’s GDP by U$45 billion by 2030

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Adopting a circular economy in Indonesia’s key sectors might add between Rp 593 trillion (US$42.2 billion) and Rp 638 trillion to the country’s gross domestic product (GDP) by 2030, a report finds, stating that doing so will also support the government’s efforts to recover the economy after the Covid-19 crisis.

Potential Rp642 trillion GDP uplift from Circular Economy

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Laporan terbaru Kementerian PPN/Bappenas berjudul The Economic, Social and Environmental Benefits of A Circular Economy in Indonesia mengungkap potensi penerapan ekonomi sirkular di lima sektor industri mampu menambah Produk Domestik Bruto (PDB) hingga Rp642 triliun.

Memetik Duit dari Sampah Plastik

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PEMBONGKARAN muatan truk terakhir di Bank Sampah Induk Gesit di kawasan Menteng Pulo, Jakarta Selatan, pada Senin, 27 Januari lalu, serba bergegas.

Plastic recycling company looks to expand as circular economy blooms

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Homegrown plastic recycling company PT Tridi Oasis Group is looking to expand its business in the flourishing circular economy, as it received part of a US$6 million investment dedicated to tackling the ocean plastic crisis in South and Southeast Asia. The funding, claimed as the world’s first investment fund dedicated to the cause in the region, was disbursed by Singapore-based Circulate Capital on April 28 and was shared with Indian recycling company Lucro. The investment is part of the Circulate Capital Ocean Fund’s $106 million in dedicated debt and equity financing for circular economy start-ups and small and medium enterprises (SMEs) in countries like Indonesia, Thailand and India.

How to Build a Circular Economy

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We have a waste problem.

The world threw away around 300 million tons of plastic in 2019, nearly equivalent to the weight of the human population. Scientists expect there could be more plastic than fish in the ocean by 2050. One year’s electronic waste weighs in at more than 50 million tons. And while far too many people still go hungry, we waste a third of all the food produced.

Altogether, more than 100 billion tons of resources flow into the economy every year, and more than 60% ends up as waste or greenhouse gas emissions.
While COVID-19 made a significant dent in global consumption, it’s not a clear-cut picture. Clothing sales plummeted, but home office and exercise equipment purchases went up; spending in the hospitality industry went down, but groceries increased. The use of single-use plastics increased significantly, while plummeting oil prices reduced the economic incentive for plastic recycling.

The 2008 recession showed us that any fall in consumption is likely to be temporary without a concerted effort to make longer-term changes.

Moving toward a circular economy

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Grace Desoe, Mathew Perry and Yi Peng
Plastic waste is a significant environmental issue in Indonesia, deeply impacting the whole country. Indonesia is second only to China as the world’s largest contributor to ocean plastic pollution. Four of its rivers – Brantas, Solo, Serayu and Progo – are on a list of the world’s dirtiest rivers, carrying the most waste into our oceans.

A 2016 World Economic Forum report estimated there will be more plastic in the ocean than fish by 2050. Experts agree that a global shift toward a ‘circular economy’ is needed; one that aims to eliminate waste and encourages continual use and re-use of resources.

In September 2018 the Indonesian government announced its plan to be on the front lines of this global shift towards circular models of waste management and to reduce plastic marine debris by 70 percent by 2025.

Supporting Circular Economy Through Responsible Waste Management with Waste4Change

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What is circular economy?
Circular economy aims to keep resources in a closed cycle. As we already know, the natural system already adapts a circular system. Soil nutrients and solar energy grow plants, plant feeds animals, animal dies, decompose, and become soil nutrients. In that perfect world, no waste is generated. However, the linear economy had introduced us with the ‘throw-away’ culture. We extract resources, manufacture products, and eventually dispose them, without thinking too much about how much resources are wasted in landfills.