Green Business: Future of Asia’s Economy

If you take a quick look at most multinational corporations, the chances are that they have long embraced sustainability and have ‘gone green’. Nowadays, being a green business is no longer a trend – it is the pathway for businesses to survive and succeed. No matter the industry, corporates are finding new ways to integrate sustainability into their model.

Green Business: Future of Asia’s Economy
Green business trend in Asian

Asia’s Path to Green Economy

With many Asian territories witnessing the significant economic damages brought by rising sea levels and natural disasters due to global warming, Asian countries such as Mainland China, Korea and Singapore have expedited their motion toward long-term sustainability to protect the environment[1]. This action is not only a big step toward a sustainable future, but it creates many investment opportunities – leading to an influx of businesses going green.

Green Business: Future of Asia’s Economy
Asia’s Path to Green Business


Benefits of Going Green

While at first glance, becoming a green business may seem difficult. It requires more commitment, more effort and may sometimes even increase initial business expenses. However, the long-term payoffs and benefits come in many forms that are not limited to profit alone.

Reduced Costs

Though some sustainable parts may be more expensive than the conventional options, green business operations usually reduce waste, energy and emission levels to conserve natural resources. These little steps can significantly reduce business bills for a good cause[1].

Eco-Friendly Incentives and Rebates 

Environmental policies from countries in Asia usually provide many different types of initiatives, grants, and support to green businesses to help them develop and grow. For example, Singapore’s Green Plan 2030 has set up a series of benefits just for companies committed to sustainability[1].

Brand Loyalty 

Since consumers are getting increasingly aware of environmental impacts and carbon footprints, customers are more inclined to choose and stick with green businesses over others. According to Forbes, over 90% of customers are more likely to trust companies that support environmental issues. Over 85% of consumers would be more loyal and purchase a product with social and ecological benefits[1].

Green Business: Future of Asia’s Economy
Green Business – cardboard for packing

Importance of Sustainable Packaging

Finding sustainable packaging is crucial for any aspiring green business. Though plastic packaging has traditionally been deemed durable and cheap, using plastic usually comes at a much higher cost – one that causes years and years of damage to the environment and the ecosystem.

With over half of modern-day consumers checking the sustainability of their product packaging before purchasing[1], it is undoubtedly worth the extra effort to source quality green packaging. Luckily in the present day, many suppliers have produced different types of biodegradable packaging for businesses to choose from.

Green Business: Future of Asia’s Economy
Green Business – Sustainable Packaging

Types of Biodegradable Packaging

Biodegradable packaging is made from materials that can easily decompose after disposal. With all sorts of packaging alternatives being developed, there is surely a greener option for businesses to adopt rather than conventional, environmentally damaging packaging.

Bio-plastics

Plastic packaging can take hundreds of years to decompose, and even then, they are not biodegradable[1]. With over 381 million tonnes of plastic waste produced globally every year[1], eco-friendly solutions are cherished more than ever. Bio-plastics are made from plants, are 100% biodegradable and can be used to replace any type of regular plastic packaging. These bio-plastics can even be decomposed within 90 days[1].

Corrugated Bubble Wrap

Made from up-cycled corrugated cardboard, small cuts are created to produce a cushioning effect that protects fragile products against shocks the same way bubble wraps do.

Recycled Cardboard

Though cardboard is an organic material, many are sourced unsustainably, which causes a drastic impact on the environment. Recycled Cardboard is sourced from sustainably managed forests and can be recycled five to seven times[1].

 

Where do I source Green Packaging?

 

Sourcing green packaging may sometimes be complicated for some businesses. To make sure that sourced packaging is genuinely sustainable, it is vital to find reliable sourcing platforms. With an experienced sourcing platform, buyers can discover verified suppliers providing biodegradable packaging ranging from eco-friendly shopping bags to green disposable cutleries with just a click of a button. Learn more about these sourcing platforms here.  

hktdc.com Sourcing is an established B2B sourcing platform that reaches over 2 million international buyers and features over 130,000 quality suppliers. Buyers can search for sustainable and biodegradable packaging and other products from verified suppliers, while suppliers can feature their products to a broad audience. You can learn more about hktdc.com Sourcing here.

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outsource reference:

[1] https://wealth.hket.com/article/3248220/【ESG】亞洲實行綠色及數碼雙轉型%E3%80%80可持續投資機遇湧現?mtc=40001&srkw=亞洲

[1] https://www.cnbc.com/2016/04/18/run-a-green-business-make-money.html

[1] https://www.greenplan.gov.sg/

[1] https://www.forbes.com/sites/forbesnycouncil/2018/11/21/do-customers-really-care-about-your-environmental-impact/?sh=67fdf78b240d

[1] https://www.business.com/articles/rise-of-green-business-innovation/

[1] https://www.wwf.org.au/news/blogs/the-lifecycle-of-plastics

[1] https://www.condorferries.co.uk/plastic-in-the-ocean-statistics

[1] https://noissue.co/blog/biodegradable-packaging-materials-that-can-replace-plastic/

[1] https://greenbusinessbureau.com/green-practices/products/packaging/8-eco-friendly-packaging-alternatives-for-your-businesss-shipping-needs/

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