Plastic Free Laos

Green Economy Trend in 2024

Monday, 15 January 2024
  • Environment - International
  • Environment - Laos

🌎 The year 2024, all eco-friendly businesses are on trend included the investor group, the SME business, the hospitality industry, the international organization, the Civil society organizations(CSOs), the government and every sectors in this community have to aware and take action on time before the climate change will effect to the economy, society and environment heavily.

On December 13, 2023, the United Nations Secretary-General, António Guterres, issued the following statement at COP28, or the 28th meeting of the Conference of the Parties (COP), to the UNFCCC: "Currently, the situation that we're facing right now is not just climate change, but we're facing a climate crisis right now. Moreover, it's not global warming as usual, but it increased and hit the ceiling in history, almost 1,7 °C in July 2023. All situations that happened were caused by the heat wave, especially human behavior." Therefore, he chose to use the world 'crisis' to push the world population to feel it's urgent to solve the climate issue now because the world can't stand weak enforcement anymore (ANTÓNIO GUTERRES, 13 December 2023).

Beside that, the global risks report of 2023 No. 18 of the World Economic Forum mentioned that the impact of climate change is the top risk for humans, both short-term and long-term. In the short term, the biggest risk is the cost-of-living crisis, natural disasters, and extreme weather events. At the same time, the top two long-term risks for humans are failure to mitigate climate change and failure to adapt to climate change (Global Risks Report 2023, 11P).

Two Degrees of Transformation Businesses are coming together to lead on climate change in 2018 and pointed out that the growth of business and industry has a side effect with the increase in the climate change situation (World Economic Forum, 2018). So, it's very important and necessary to adapt all businesses to be eco-friendly and sustainable.

Since 2018, all of us have noticed that currently, the trend among consumers is to consume more eco-friendly products and services, and investors are adapting to provide more eco-friendly products and services to support a sustainable lifestyle in the market because people in this generation are aware of the reason for the climate crisis. Therefore, they're aware that the action and solution process must be done now (Mintel 2024 Global Consumer Trends, 2023).

On behalf of the consumer, let's use the local products and eco-friendly services inside the country, such as LOCA Company Limited, which supports the driver to use the electrical vehicle; the food delivery company Food Panda, which adopts to provide electric motorbikes for the driver; and Angsana Mesong Souvanhnaphoum Hotel, which has good waste management and avoids plastic packaging. Last but not least, the Cat Cafe LuangPrabang uses zero-packaging plastic and recycles the waste.

References:

- UN website, `Climate change news`, https://www.un.org/en/climatechange

- Global Economic Forum, `Global risks report`, https://www3.weforum.org/docs/WEF_Global_Risks_Report_2023.pdf

- World Economic Forum, `Two Degrees of Transformation`, https://sg.docworkspace.com/d/sIE2n_cYzmsP-rAY

- Mintel,  `2024 Global Consumer Trends`, https://www.mintel.com/consumer-market-news/global-consumer-trends/

- Plastic Free Laos Label Facebook page,  https://www.facebook.com/plasticfreelaos

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