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2024: The Year of Collaborative Transformation in Sustainability

  • Writer: Ts. Raja Shazrin Shah
    Ts. Raja Shazrin Shah
  • Jan 9, 2024
  • 3 min read

Updated: Jan 6

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2024 stands as a pivotal year for global corporate practices, particularly in embedding planetary health, circular economy and industrial ecology concepts. Not only is Europe leading the charge with new legislation, but China's emerging market, especially in automotive, energy, and high-tech products, also demands close attention. This year, a results-driven approach becomes crucial.


In the corporate world's ever-changing landscape, circular economy and industrial ecology are increasingly seen as essential for attracting eco-aware employees, customers, and investors - and of course ESG-compliance (if there is such a thing!). This change is prompting boardroom discussions, allowing companies to gain a competitive edge by embracing these principles early.


This year, companies are setting higher targets in these domains. However, a top-down approach to the circular economy and industrial ecology is often underestimated. I want to point out the disadvantages of going at it alone and instead suggest a company-wide (if not industry-wide) strategy that brings together different views, skills, and resources. This approach boosts the impact of efforts in these fields, leading to business success and higher profits.


For business leaders planning or revamping their strategies in these areas in 2024, here are key pitfalls to avoid:


  1. Challenges in Reporting and Measurement: Planning effectively means setting clear targets, tracking progress, and reporting honestly. Without collaboration and digital tools, it's hard to standardize these processes, leading to mistakes and inconsistent reports. Tools like the NXMap and NXOps by Evercomm Singapore will overcome these challenges.

  2. Missing Out on Innovation: Innovation is key to the circular economy and industrial ecology. Working with outside groups, like startups or research labs, can bring new tech and fresh ideas, pushing both sustainability and efficiency. This kind of teamwork puts businesses ahead in their fields and drives big changes.

  3. Limited Expertise Leading to Operational Oversights: The circular economy and industrial ecology are complex and need know-how in many areas, from supply chains to eco-friendly solutions. Going it alone can mean missing important parts and best practices. Teaming up with experts and peers is essential for a full and effective approach. At Galaxy Tech Solutions (KL) Sdn. Bhd. (https://www.galaxytechsolutions.my) we constantly reach out for collaboration with experts globally to drive innovation in providing solutions. My current involvement with Academy of Sciences Malaysia in Planetary Health provides me with opportunities to further expand my network to reinforce framework development in sustainability.

  4. Inefficient Resource Use Slowing Growth: To grow these efforts, a lot of resources are needed. Trying to do it alone can lead to wasting resources, limiting the reach and effect of projects. Working together lets businesses share resources, cut costs, and access more funding options, making bigger and better projects possible.

  5. Importance of Involving Everyone: Success in these areas really depends on getting everyone involved. Companies trying to do things alone might not get their employees, customers, and investors fully on board, especially if they don't understand the full picture.


As businesses navigate this evolving sustainability landscape, let 2024 be a year marked by joint, strategically aligned efforts in the circular economy and industrial ecology. This approach promises impactful and successful ventures for those dedicated to these principles.


Please contact me here if you want to discuss how integrating transformative sustainability can be key to success in your business.


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