The Brunei Sustainable Economy Forum 2024 concluded on Monday, marking a significant step in advancing Brunei’s journey toward a resilient circular economy. Held at Balai Khazanah Islam Sultan Haji Hassanal Bolkiah, the event attracted over 130 stakeholders from government, business, and academia to explore sustainable economic pathways.
Organised by the ASEAN and APEC Business Advisory Councils of Brunei in collaboration with the Ministry of Finance and Economy, the forum centered on the theme, “Towards a Circular Economy: Building a Resilient and Sustainable Brunei.”
In her welcome address, Chair of the ASEAN Business Advisory Council Brunei and CEO of Dynamik Technologies Haslina Taib, underscored Brunei’s opportunity to leverage circular economy practices to achieve its Sustainable Development Goals (SDGs). “As Bruneian businesses, adopting sustainable practices is no longer just a nice-to-have; it is essential for remaining competitive in today’s market as ASEAN countries are gradually imposing mandatory sustainability accounting and reporting for businesses.” she stated.
Joining her was Chair of the APEC Business Advisory Council Brunei and CEO of Standard Chartered Bank Brunei Pengiran Aki Ismasufian bin Pengiran Haji Ibrahim. He emphasised the crucial role of “new technologies and innovations in securing food sustainability and minimising waste. Equally vital are robust partnerships founded on trust and transparency throughout the food supply chain. We have also observed that businesses require stable policies and modern regulatory standards to genuinely flourish.”
In the keynote address, Minister of Primary Resources and Tourism Dato Seri Setia Dr Hj Abdul Manaf bin Hj Metussin highlighted Brunei’s adoption of the circular economy model, which optimises resources and minimises waste, contrasting the traditional “take-make-dispose” approach. Notable efforts in Brunei by the Ministry include Regenerative Agriculture and using renewable energy in food production, reducing chemical fertilisers by an estimated 25 per cent and increasing yields by 20 per cent, as well as the innovative Rigs-to-Reef program for the marine ecosystem, repurposing decommissioned oil platforms to boost sustainable fishing practices and marine conservation.
Additionally, Regenerative Tourism initiatives were highlighted, especially in the Belait and Tutong Districts, blending environmental conservation with community-based cultural experiences to foster sustainable tourism. The Minister also emphasised the critical role of the private sector in advancing Brunei’s circular economy through sustainable practices that prioritise resource efficiency and waste reduction. He concluded with a call for collective action, urging all stakeholders to be agents of change in building a resilient, sustainable future for Brunei Darussalam.
One of the highlights from the forum was a masterclass led by Professor Scott Valentine from Universiti Brunei Darussalam, which provided a data-driven perspective on the potential impact of a circular economy on Brunei’s economic development. The session emphasised that adopting circular economy models is crucial for Brunei to meet its economic growth targets while minimising environmental impacts.
The forum also featured practical insights from subject matter experts and industry leaders, including Co-Founder ASEAN Circular Economy Business Alliance Rene van Berkel, Tan Zhi Ying from the UN Global Compact Malaysia and Brunei, and CEO of Jejakin Arfan Arlanda, who shared strategies for organisations beginning their sustainability journeys.
The event culminated in a dynamic panel discussion titled “The Business View: How Can Brunei’s Private Sector Get Involved?” The panel featured representatives from TotalEnergies, Brunei LNG, and the ASEAN Circular Economy Business Alliance, who discussed ways to foster sustainable practices within Brunei’s private sector.
The forum concluded with an inspiring presentation by Tahsin Wong Abdullah and Anna Aziz from Poni Group, who showcased the success of Ocean Week Brunei, underscoring the impact of public-private partnerships on national sustainability goals. – JAMES KON
