Kate Stubbs | Group Business Development and Marketing Director | Interwaste | mail me |
Sustainability has risen to board level discussions in South African corporates, as they grapple with both the public’s demand for environmentally friendly products as well as the growing requirements of Environmental, Social and Governance (ESG) reporting.
Without a doubt these demands are not only helping to drive a culture change across society, but they are directing waste producers and waste managers to work together to identify innovations that address key waste issues, while meeting changing legislative requirements.
However, even in an environment where businesses are recognising the importance of integrating ESG considerations into their strategic decision-making processes, we still require a shift in mindset from the traditional linear production process – the take-make-dispose model – towards one that aims to reduce all unnecessary waste materials, as well as reducing the consumption of energy and raw materials and, where there is excess, to feed this back into the value chain.
This is the definition of the ‘Circular Economy’ model, where waste created in one industry is re-purposed for use in other areas of industry and the economy, and where disposal is the final option, rather than the immediate go-to.
Unlocking economic potential
What organisations are now only learning, is that much of the 90% of waste currently disposed of to landfill in South Africa, (an estimated R17 billion worth), can be re-used as alternative secondary resources into the economy, when pre-sorted and managed effectively. With this realisation, together with sustainability and ESG remaining on the strategic agenda, directors are now expanding their understanding of these aspects of business, ones which didn’t necessarily receive board attention before.
From a strategic perspective, companies not only need to be aware of various aspects related to waste management and incorporate them into their planning but should view these as a proactive way in which to manage risks and unlock value for their organisations. Yes, waste can be transformed from a cost burden to a value driver for a business. Let’s unpack this.
Regulation, compliance & innovations
Waste is governed by policies, regulations, norms, standards, and best practices, all of which guide the legal management, handling, treatment and disposal of waste in the country. As a result, managing waste effectively involves the development of…
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Read the full article by Kate Stubbs, Group Business Development and Marketing Director, Interwaste, as well as a host of other topical management articles written by professionals, consultants and academics in the December/January 2023/4 edition of BusinessBrief.
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