8 Opportunity 8, and dematerialization. In addition, among people who take better care of their possessions, this effect was reversed (Tsurumi et al., 2020b). Therefore, if people own fewer products but have a strong attachment to them, they can retain happiness while decreasing material consumption. This opportunity is in line with the traditional way of life in Asia in aspriing for a better life. Reinforcement The trends exemplified by the Paris Agreement and ESG (environment, social and governance) investments reinforce the policies at the government level while promoting as decarbonization and corporate initiatives. The loss from delayed action to initiatives and criticism toward the managerial short-termism is intensifying. Measuring society’s genuine wealth and In the future, perceptions of social change will be transformed, which means that a new evaluation axis will be needed. There are also trends that measure the subjective conditions of people, such as their degree of happiness and anxiety (Tasaki et al., 2010). From an economic perspective, new indicators are being proposed based on a discussion called “Beyond GDP” that captures wealth as stock (e.g., inclusive wealth, new capital wealth indicators) rather than capturing wealth as flow. These indicators convert different types of capital, such as infrastructure, human the natural environment into monetary units and comprehensively measure them, with attention paid to the accumulation of capital for sustainability (Dasgupta et al., 2015; Managi, 2016). The inclusive wealth indicator (Managi & Kumar, 2018; Yamaguchi et al., 2019) has recently been utilized in both developed and developing countries (Dasgupta, 2021; UNEP, 2021). Even local governments use the indicator to rely on and sustain precious local capital (Managi & Tanaka, 2018). By replacing GDP, the new measurement of genuine wealth can change the course of development. environmental measures There are emerging environmental measures will resources and such trends that encourage M. HIRAO et al. especially emerging economies, is inevitable, and it is crucial to ensure such actions are practical. Attention has to be paid to insufficient management resources at companies in Asian developing countries. Yagi and Kokubu (2020) therefore proposed a phased corporate management framework with five stages. It is necessary to consider not only the external environment of companies but also their internal situation for effective actions for SCP with the understanding that delayed actions have become a company risk. its components as needs, including risk avoidance needs, in a form that accords with the present time, is the basis of creating a new CP pattern. The CE (circular economy) and sustainable value chain concepts upgrade environmental and industrial policies toward integrated measures. The concept also advances cross-border standardization and collaboration, and promotes CP patterns that reduce adverse effects from raw material extraction to the end of life. The CE concept involves material selection that makes little or no distinction between primary materials and secondary recycled materials. It also promotes improvements in the quality of secondary materials, components RRRDR (remanufacturing, refurbishment, repair and direct reuse) (see Matsumoto et al. (2021) for remanufacturing in Asia). Value chain management seeks to enhance product designs to better suit consumer lifestyles while enhancing overall environmental efficiency across the lifecycle. Promoting industrial symbiosis is also key to a circular economy. In Asia, there is a sufficient margin for recycling transboundary symbiosis for steel slag, aluminum dross and waste (Cravioto et al., 2021). Impacts on the environment and humans can be reduced by symbiosis utilizing industrial waste as resources. Additional effects can be generated through transboundary movement of waste for symbiosis while proper measures are taken under frameworks such as the Basel Convention, because not all industries presumed to be present in developed countries necessarily exist in those countries in Asia (Ori et al., 2014). For a circular economy, material sorting plays an important role. It is necessary to consider ways to use human resources and infrastructure in the informal sector and reorganize formal systems, since there is a possibility of affecting poverty and labor. the development of environmental policies, such as the Paris Agreement and ESG investment, with increased attention to the necessity of accelerating global movements towards decarbonization and sustainability. The recognition that current increase competitiveness in the market is expanding. In this way, the “game change” phenomenon is already occurring. A growing number of companies are involved in advancing SCP, the SDGs and ESG with increasing popularity across the globe. Active participation by developing countries, information provision progressively accumulating. Simple information provision alone has limited power to change consumer behaviors (e.g., Thaler & Sunstein, 2014). Recent developments in fields such as behavioral economics have products and through inter-industrial and the for a behavioral SWITCH-Asia, 2008; through shift 4.2 Opportunity 2: Genuine Wealth 4.3 Opportunity 3: Environmental Policy 4.4 Opportunity 4: Circular Economy 4.5 Opportunity 5: Sophisticated Information Provision Knowledge about designing and customizing is
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