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Asian companies are doing poorly compared to their western counterparts Increasingly Asian brands/companies are becoming more and more popular. However, as they stand in the global stage enjoying the global attention, they need to remember to also act responsible as a global company, especially when it comes to sustainability. World Wide Fund (WWF), recently conducted to research to determine how Asian consumer goods companies measure-up against their western counterparts when it comes to sustainability. The report titled, ?Asian Fast Moving Consumer Goods (FMCG) - A Sustainability Guide for Financiers and Companies?, stated that Asian companies and their investors are not doing enough to protect the environment. Twenty-six firms across APAC markets including China, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Thailand and Vietnam with market worth of at least US$1 billion were picked for the report. The report reviewed how they managed the environmental impact of the three most important elements of their operations, water use, packaging and soft commodities such as oil, sugar, and meat. The study revealed that Asian companies were less aware of environmental, social and related business risks when compared to their western counterparts. For example, outer/external appearance is important in Asia and thus, many FMCG companies in Asia use extensive amounts of packaging, which generates waste which is not always biodegradable. An effective way to hold these companies accountable is to increase the voices of consumers who purchases products from these companies. Consumer must increasingly be responsible in choosing and purchasing products that are environmentally friendly. They must also demand companies to be accountable for doing their best to act responsibly when it comes to sustainability. I encourage everyone to look at the report to understand how your favorite brands/companies are doing. For the full report click here. |
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7 Comments
thanks for sharing
Posted 06-02-2018 22:55
good report
Posted 06-02-2018 22:54
I agree you mate, useful article to read :)
All the industries and companies as well as household users should be concerned about the environment.
Posted 15-04-2017 02:49
Good to know about all of this. Thanks for sharing Daniel.
Posted 12-04-2017 23:57
Hello Daniel! Thanks for sharing your article:)
I fully agreed on a point that increasing awareness of consumers is a key motivator to make companies move!
Posted 12-04-2017 17:03
I agree Daniel. Consumers can make an impact by promoting companies that follow sustainable practices. Packaging is an important factor. Recycled material must be used & refill tetra packs be introduced for refilling plastic containers of Shampoo, Soaps, Face Wash etc.
Posted 12-04-2017 16:34
Daniel, thank you for your report. It was interesting to read that there are numerous companies that are not so much aware of environmental issues. I am sure among asian companies that are doing their jobs in a right way, but not recognized yet. If you find them and write a report about them, that would be worthy.
Posted 12-04-2017 15:03