Toward sustainable growth in ASEAN

Climate change and other global environmental issues are growing more serious every year. The international community is calling on businesses to take strong action to address these threats and make their business transition to be more sustainable. Furthermore, various regulations and voluntary rules are being established in response to these issues.

ASEAN (Association of Southeast Asian Nations) member states are among the world’s fastest growing economies, yet their economic resilience is increasingly threatened by population growth, resource depletion, unsustainable patterns of raw material consumption and climate change. A new model of regional economic growth is needed―one that is not reliant on mass resource consumption and waste disposal.

With our base in Asia and extensive business track record in the ASEAN region, we believe Japanese companies, in partnership with local businesses, can make a significant impact. That’s why in November 2022, we launched the Executive Sustainability Forum. This is one of the few private sector-led forums for business leaders to discuss and share learnings on key sustainability matters in ASEAN.

In the year since its inception, business leaders from Forum member companies have gathered to discuss the future of sustainable business in Asia. During the 2024 World Economic Forum Annual Meeting in Davos, Switzerland, they released a joint statement aimed at achieving sustainable growth in ASEAN. This report explains PwC’s circular economy framework, which served as the basis for these discussions, and lays out the challenges facing ASEAN’s transition to a circular economy.