The Program Management Unit for National Competitiveness Enhancement (PMU-C), in collaboration with the Plastics Institute of Thailand, Siam Piwat Company Limited, Public Private Partnership for Sustainable Plastic and Waste Management (PPP Plastic) and Chulalongkorn University, organized a competition on business models for plastic waste management.
Plastic waste is one of the most environmental pressing issues the world is facing. Each year, Thailand generates 1.91 tons of single-use plastic waste, of which only 0.35 tons are recycled, leaving the rest in the landfill or entering our environment. Plastic recycle and upcycle are the most effective and sustainable approaches to tackle plastic waste problem.
A project to develop a business model for plastic waste management in inner cities using a circular economy concept was initiated and supported by PMU-C under the Circular Economy Program. In this project, PMU-C works with partners comprising the Plastics Institute of Thailand, Siam Piwat Company Limited, PPP Plastic and Chulalongkorn University to design viable business models starting from separation at source to sorting & baling and utilization, to increase plastic recycle and prevent plastic waste from entering the ecosystem. The design is based on the 3P principles, namely profit, people and planet.
“Let’s Close the Loop” event was held on 3-6 March 2022 at Siam Paragon shopping mall to promote public understanding and engagement in the plastic waste management. The event consisted of an exhibition on plastic waste management, displays of recycled products, public seminars and “From Pieces to Business” business model competition which is part of the plastic waste management business model development.
In the plastic waste management business model development project, the Plastics Institute of Thailand designs a business model suitable to each specific area based on the analysis of consumer behavior and introduces tools to encourage waste separation and recycling behavior. Information across the value chain is collected and linked through a digital platform. Ideas from this “From Pieces to Business” business model competition will be supplied to stakeholders of plastic waste management – enterprises, the people sector, government agencies and academia – to apply to their operations.
The plastic waste management business model development project is expected to increase the plastic recycle to 2.19 tons/year and add THB 10.95 million/year to the economy. Changing the mindsets and practices of consumers and businesses and building the capability of Sorting & Baling Hub are the key to drive sustainable plastic waste management and the circular economy.
