( ii ) Waste prevention and optimisation Waste prevention or minimisation helps to develop a more sustainable society by reducing or eliminating the production of undesirable and persistent wastes . Massive plastic waste generation can be controlled by eliminating its use at an earlier point or by extending the life of plastic based products . Redesigning products and processes , as well as transforming community consumption and production patterns , are all part of waste minimisation .
( iii ) Technology and expertise Advanced technology and expertise are the backbone for success of the circular economy . Mature technologies should be in place to drive the components of the circular economy such as recycling , and this should be made applicable to all kinds of plastic waste . Technologies such as for collecting the waste , separating it , including mixed waste , cleaning , recycling , and turning it into useful products either for the same function or cross-sector use . Such technologies and expertise should be ready before the legislative enforcement takes place especially when it comes to mandating recycling .
( iv ) Renewable energy utilisation Renewable energy also contributes to the conservation of the country ’ s natural resources . Renewable energy provides consistent power and fuel diversification , enhancing energy security and minimising the risk of fuel leaks while also reducing the requirement for imported fuels . Renewable energy technologies have an economic advantage for two reasons : ( i ) they require new knowledge , skills and technology thus resulting in more jobs per cost invested than traditional electricity generation technologies ; and ( ii ) they primarily use indigenous resources , allowing the majority of energy costs to loop inside the organisation .
( v ) Market creation For a circular economy to work , the creation of a functioning market for recycled and sustainable plastics is a must . It is undeniable that market creation is heavily dependent on current demand . The demand here is not only for the waste for re-processing but also the demand for recycled plastic materials . Diversified market segments are important and the ability to supply the waste for recycling is also crucial to keep the market stable .
( vii ) Stakeholder engagement The circular economy cannot be successful in a silo type environment , hence the need for big networks and relevant stakeholder engagement . This can range from individuals to groups either profit based or non-profit based organisations which come together complementing each other to drive the circular economy initiatives . The systematic identification , analysis , planning and implementation of actions that are mutually agreed upon will help each stakeholder to contribute based on their strength .
( vii ) Financial support Financial support , either from the Government or the private sector , is key for the success of the circular economy . The availability of budgets gives meaningful space to the relevant parties to work within the circular economy through incentives , grants , tax relief , business rewards and others . The aid could be in a non-monetary form as well .
( viii ) Data management Data capturing is essential for planning circular economy practices . Data and the management of data are crucial . In fact , to date , most of the collection programmes or take back approaches are struggling because of the minimal amount of data and information that is available on waste / material that has been identified for recycling . It should be compulsory to have data such as type and quantity of waste that is generated , the capacity , the transportation mode that is available , the capacity of reprocessing facilities , market demand and supply , identification of the process / organisation which will benefit from the re-processed material and others . This data should be valid and traceable whenever needed at different levels .
Challenges in the implementation of a Circular Economy
The circular economy transition has reached out to the relevant stakeholders in Malaysia , but the acceptance and response levels are still varied .
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