In view of the fact that the current environmental regulations, legislation and targets in Asia are more backward than those in the European Union, the biggest challenge facing the Asian petrochemical industry is to realign its strategy for sustainable development goals while meeting the growth in demand. However, as Europe and the United States have begun to adjust, the process of transformation in Asia must be accelerated.

Representatives of various countries attach great importance to it.

By 2030, Japan has set a goal of reducing its greenhouse gas emissions by 46%, India by 30%, Malaysia by 45%, Singapore by 36%, South Korea by 27% and Thailand by 20%. Representatives of all countries generally attach great importance to sustainable development.

Mitchell Keelin, acting president of the Korea Petrochemical Association, said at the conference: "Ecological awareness will determine the spirit of our times, and we will see higher and higher expectations for the adjustment of the petrochemical industry." We must meet the challenges and opportunities brought about by a series of environmental protection initiatives implemented at the same time. "

Keichi Iwata, president of the Japan Petrochemical Industry Association, pointed out that the demand for petrochemicals in Asia is expected to continue to grow at an annual rate of 4.0%, and the increase in greenhouse gas emissions must be solved through the development and implementation of new technologies. Iwata said that APIC members emit a total of 6 billion tons of greenhouse gases a year, and international cooperation is essential to solve this problem.

Akbar Tayob, president of the Malaysian Petrochemical Association, told delegates: "Sustainable development is no longer just a buzzword, but a key requirement for future growth." Mr Akbar said the Asian petrochemical industry must focus on three key areas: reducing environmental footprint, promoting social responsibility and promoting innovation. All APIC members are committed to carbon neutrality by 2050, while India aims to be carbon neutral by 2070.

Charoenchai Pratuengsuksri, chairman of the Petrochemical Industry Club of the Thai Federation of Industry, said that cooperation among industry participants would also play a key role in promoting sustainable practices.

Plastic recycling is the key.

The Asian petrochemical industry is facing four key trends that determine its net zero emission pattern, namely, circular economy, energy transformation, urbanization and emission reduction technologies. In terms of building a circular economy, Asia is facing a dilemma: Asia is the largest plastic production and consumption region in the world, but at the same time, the new plastic market is huge and the demand is expanding significantly. Participants believe that the Asian petrochemical industry is in urgent need of relevant transformation if the Asian recycled plastics industry is to become a huge economic opportunity.

Justin Wood, vice president of the Asia-Pacific region of the Alliance to eliminate plastic waste, said that in India, per capita plastic consumption is now less than half of the global average, but due to India's rapid economic growth, the plastic waste problem is becoming more and more serious. It is estimated that 11 million tons of plastic enter the world's oceans every year. For the circular economy, this is an economic opportunity, and more and more international petrochemical enterprises hope that they are using these plastic wastes as raw materials. One study estimates that India loses about $10 billion a year due to poor management of plastic waste. Rajesh, Senior Vice President of Sustainability and Recycling at Reliance Industries Guaba said that, thanks to its collection system, the recovery rate of waste plastics in India is actually very high, but the quality of recycling remains a major area of concern.

Arjun, Managing Director and partner of Boston Consulting Group Southeast Asia Rajamani says Southeast Asia is also one of the most polluted areas. Part of the problem is caused by geography, because Southeast Asia is made up of about 10,000 islands, and many rivers deposit plastic into the ocean. With the economic development of Southeast Asia and the substantial increase in plastic consumption, the problem will only become more and more serious. Rajamani points out that China's GDP of countries in the region is growing at an average annual rate of 4% to 6%, and plastics are usually growing slightly faster than China's GDP. At present, the per capita plastic consumption in Indonesia, the Philippines and other countries is only 1x4 of that in developed countries, and the plastic consumption in this region will increase significantly in the future.

Among the Southeast Asian countries, Malaysia has established a road map for sustainable development of plastics in 2030. "Malaysia hopes to achieve at least 25 per cent of its post-consumer plastic (PCR) recycling target by 2025 and 40 per cent by 2030," Rajamani said. By 2030, all packages will contain at least 50% recycled plastic, and it is planned to ban disposable plastics soon. The road map covers everything from bio-based raw materials, the design and use of waste plastics, waste collection and recovery technologies to all levels of the value chain. "