Author: Lin Tzu-hsiang, Consultant, Quality, Environmental and Safety Department, Plastics Industry Technology Development Center Global COVID-19 Pandemic: Challenges and Opportunities for Sustainable Development The COVID-19 pandemic has impacted the world, causing significant shocks to human society and the global economy. It has been described by the United Nations as \"the greatest crisis since World War II.\" In particular, the lockdowns and border closures experienced by many countries have had a far-reaching impact on economic activities. Whether it is import and export trade, industrial manufacturing, or tourism and service industries, all have suffered very severely. To this day, the shadow of the pandemic continues to loom over the world. However, at a time when global economic activity is facing significant stagnation or delays, this pandemic has unexpectedly brought about a positive outcome to the global climate change challenge. For example, in 2020, several regions (countries) achieved their lowest overall carbon emissions in recent years, along with the most moderate global warming, making the daunting challenge of \"controlling warming trends to a manageable level\" more plausible. Furthermore, statistics released by NASA indicate that air pollution in northern India, including New Delhi, reached its lowest level in at least 20 years. Even ecologically, the number of leatherback turtles nesting on Thai beaches reached a near 20-year high. This, to some extent, demonstrates that past human activities have indeed placed a tremendous burden on nature, and reaffirms that while pursuing economic development, it is even more crucial to maintain a balance of coexistence and mutual prosperity with nature. Our past accustomed linear economy of manufacturing, consuming, and then discarding has not only severely impacted environmental conservation and excessively accelerated the depletion of Earth's resources, but has also indirectly caused a backlash from nature. Therefore, from the perspective of raw materials, replacing resource extraction with recycling, reuse, and reprocessing\u2014the implementation of the \"circular economy\" concept\u2014has become even more crucial during this pandemic. Resources are not inexhaustible; only by making good use of recycling can we achieve the most appropriate application of limited resources. Another key focus is the continued development of the global green supply chain. The impact of the COVID-19 pandemic has significantly highlighted the fragility of the global supply chain and demonstrated the importance of the circular economy, making it even more critical than before. How to improve resource recycling rates through industrial cooperation will be a major challenge in the post-pandemic era. Figure 1 shows the active initiatives and developments related to sustainable recycling in recent years. It is truly remarkable that our country has successfully maintained its epidemic prevention efforts despite the severe challenges of the global pandemic. McKinsey & Company, a globally renowned consulting firm, states that how to use the experiences and lessons learned from this COVID-19 pandemic to plan and act in the face of the climate crisis will be key to the decisive battle against climate change in the next decade. As the pandemic gradually subsides, governments and businesses need to begin considering how to address issues such as national lockdowns and economic recovery shutdowns \u2013 this is just the beginning of the real challenges! The Development of the International Circular Economy Trend and the Continued Promotion by Various Countries In this rapidly changing era, the wave of globalization has brought numerous economic benefits, but issues such as climate change, energy scarcity, and ecological damage continue to ferment. As mentioned earlier, although the COVID-19 pandemic continues to impact global society and the economy, the promotion of \"sustainable development\" and the \"circular economy\" should remain the goals that governments and businesses worldwide strive to achieve. Below are two recent important regional developments related to sustainable circular economy: 1. The European Union's \"European Green Deal\" In 2019, Ursula von der Leyen, the newly elected President of the European Commission, announced the \"European Green Deal\" at the UN Climate Change Conference COP25. The European Green Deal (hereinafter referred to as the \"Deal\") outlines an action roadmap for 50 policies to be introduced over the next three years, revealing the goals of carbon neutrality by 2050 and a 50%\u201355% reduction in carbon emissions by 2030. Its main aim is to promote sustainable economic development in the EU, transforming climate and environmental challenges into opportunities across all policy areas, and achieving justice and inclusivity during the overall transition. The European Commission's Climate and Energy Department will be required to submit a draft \"European Green Deal\" within 100 days, setting a timeline for a series of deep transition policies to address climate change, a clean environment, and a green economy. The plan also includes a European Sustainable Investment Mechanism, with investment selection principles discussed in December and a \"Green Finance Action Plan\" to be submitted in June 2020. Figure 2. The European Union's \"European Green Deal\" In recent years, the EU's efforts in sustainable development have been crucial internationally. Even with the devastating impact of the pandemic, EU member states have not compromised on environmental policies. The \"Green Deal\" is a response to the EU's goal of achieving climate neutrality by 2050. From a business perspective, the implementation of this policy plan will significantly impact the economic activities between companies and governments within the EU, particularly in areas such as energy and the import\/export of recycled products, requiring careful consideration. Furthermore, in late May 2020, the European Commission announced the \"Next Generation EU\" green recovery plan, with a planned investment of \u20ac750 billion (approximately NT$25 trillion), integrating economic recovery with green transformation. Based on publicly available information, it currently focuses on three key areas: green building transformation, hydrogen power development, and clean transportation, aiming to stimulate the economy in the short term while promoting long-term sustainable development benefits. This presents immense business opportunities! 2. Ellen Macarthur Foundation, *The Circular Economy: A Transformative Covid-19 Recovery Strategy* (2020). In response to the COVID-19 pandemic, trillions of dollars in economic stimulus packages have been provided globally, and calls for addressing other global challenges are unprecedented, viewing this moment as a rare opportunity to build a resilient and low-carbon economic recovery. (Figure 3: Ellen Macarthur Foundation, *The Circular Economy: A Transformative Covid-19 Recovery Strategy*). Therefore, governments must take proactive action to pave the way for broader economic transformation while protecting national economies to withstand future unknown global risks. The circular economy not only eliminates the negative impacts of linear economic models but also represents a systemic change that can enhance long-term resilience, create business and economic opportunities, and achieve environmental and social benefits. With this vision in mind, the Ellen Macarthur Foundation offers the following four recommendations for countries to continue promoting the circular economy during the pandemic: Overall Recommendation Goals: Unified Direction: Achieving Resilient Recovery through the Circular Economy; Fostering Collaboration for Systemic Solutions; Developing Incentives to Empower a Low-Carbon Circular Economy; Creating Circular Investment Opportunities to Meet Key Public Priorities. Building on this, the Ellen Macarthur Foundation further highlights 10 industries with circular economy investment opportunities. By seizing these opportunities, policymakers and businesses can foster a future circular economy transformation: unlocking more possibilities in a more prosperous and inclusive era. 2021 Top 10 Global Circular Economy Investment Industries Worthy of Continued Attention | No. | Theme | Content | |---|---|---|---|---| | 1 | Built Environment | Building Renovation and Upgrading | | 2 | Reuse of Building Materials and Recycling of Infrastructure | | 3 | Transportation | Diverse Transportation Infrastructure | | 4 | Motor Vehicle Refurbishment, Remanufacturing, and Repair Infrastructure | | 5 | Plastic Packaging | Innovative Business Models for Reusing Plastic Packaging | | 6 | Plastic Collection, Sorting, and Recycling Infrastructure | | 7 | Fashion | Clothing Rental and Resale Business Models | | 8 | Clothing Collection, Sorting, and Recycling Infrastructure | | 9 | Food | Tools to Enable Farmers to Adopt Regenerative Agriculture Models | | 10 | Infrastructure for the Collection, Redistribution, and Resource Utilization of Surplus Food and By-products | Taiwan's Circular Economy International Integration and Prospects | Taiwan plays a vital role in the global industrial value chain. Especially during the global pandemic, Taiwan's ability to maintain various economic activities is remarkable, showcasing the vigor and resilience of its industrial development. In recent years, the Taiwanese government has actively incorporated \"circular economy\" into the \"5+2 Industrial Innovation Plan,\" with various departments of the central government and local governments actively promoting Taiwan's development towards the concept of a circular economy. In addition to the government's continued promotion of circular economy policies, the development of circular economy by Taiwanese SMEs in recent years has amazed the world. Many companies are actively using recycled materials instead of virgin materials in product development, and guided by sustainable design principles, they are establishing a complete cycle of product use (including recycling and remanufacturing). By redesigning products and processes, resources, raw materials, and waste are continuously recycled within the production chain, reducing energy consumption and waste generation. This model of emphasizing resource recycling is not only environmentally friendly but also helps strengthen resource self-sufficiency in Taiwan, where over 70% of resources are imported. With continued international investment in the circular economy, the regulatory follow-up in various countries is also a significant driving force for industrial transformation. At the 2020 Taiwan Circular Economy Summit, Deputy Minister of Economic Affairs Tseng Wen-sheng stated, \"Taiwan has made considerable efforts in the circular economy over the past 10 years, and one of the key tasks in promoting the circular economy is to build and promote the supply and demand of the circular economy.\" \"Once value is created, it will not be arbitrarily discarded. Therefore, we must ensure that products can return to their original manufacturers from the moment they leave the factory, avoiding breaks in the chain and preventing recycling; an important principle is how to design for reuse and avoid complicating materials.\" Looking internationally, the EU has formulated policies to ensure that all plastic packaging materials are recyclable or reusable by 2030; more than 350 global manufacturers, including Nestl\u00e9 and Coca-Cola, have also actively announced that they will achieve the goal of reusable, recyclable, or environmentally degradable plastic packaging materials five years ahead of schedule; and more than 94 fashion brands will use 100% recycled polyester materials by 2030\u2026 Although the global pandemic still has many uncertainties, the continued pursuit of the circular economy by governments and industries around the world precisely illustrates the international trends we are witnessing, which actually imply considerable international business opportunities. This should be a key focus for Taiwanese SMEs! References: Ellenmacarthurfoundation.org. 2021. The Circular Economy: A Transformative Covid-19 Recovery Strategy. [online] Available at: [Accessed 26 January 2021]. Circular Economy: A Green Vision for 2040 \u2013 Integrating Dynamic and Static Elements to Transform Taiwan's New Future \u2013 Business Today. [online] Available at: Circular Economy: A Green Vision for 2040 \u2013 Integrating Dynamic and Static Elements to Transform Taiwan's New Future > [Accessed 26 January 2021]. Circular-taiwan.org. 2021. \"Post-Pandemic Era \u2013 Building a Resilient Future with Circular Economy\" Asia-Pacific Circular Economy Forum Online Special Session Outcome Report. [online] Available at: [Accessed 26 January 2021]. Wen Li-chi and Chen Hsien-chen: \"Concept Platform\" The EU's \"Green New Deal\" Sparks a Wave of International Trade Transformation. Chung-Hua Institution for Economic Research Cier.edu.tw. 2021. [online] Available at: [Accessed 26 January] [2021]. Huang Zhengzhong, 2021. KPMG's Anhou Jianye publishes new book \"The Great Difference in Circular Economy\" exploring the circular economy and its accounting reform. [online] KPMG. Available at: [Accessed 26 January 2021]. Liu Wenxiong, 2021. Post-pandemic era: Circular economy protects the earth. [online] Economic Daily. Available at: [Accessed 26 January 2021]. Wen Liqi and Chen Xianzhen: Voice of Law and Economics - \"Green Recovery\" after the pandemic: Taiwan Can Help More. Chung-Hua Institution for Economic Research Cier.edu.tw. 2021. [online] Available at: [Accessed 26 January 2021]. Xie Wenkai and Zhang Su (2020). The EU formally adopted the Green Deal, revealing the goal of achieving carbon neutrality by 2050 and reducing carbon emissions by 50%~55% by 2030 - Energy Knowledge Base. [online] Available at: Wang Qinggang (CommonWealth Magazine, Issue 700): The Biggest Driver of Post-Pandemic Recovery \u2013 The Green New Deal is Here! Will the EU Replace the US in Leadership? [online] CommonWealth Magazine. Available at: [Accessed 26 January 2021].<\/p>","protected":false},"excerpt":{"rendered":"
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