Industry Players Urged to Evolve, Embrace Bio-Based Economy in Palm Oil Sector
An industry expert had urged Malaysian palm oil players to prioritise industrial sustainability by embracing a bio-based economy to remain competitive in the global market.
Research Institute for Sustainable Excellence and Leadership (RISEL) founder Hong Wai Onn also emphasised the need for the palm oil sector to move beyond traditional, commodity-based practices.
“The Malaysian palm oil sector needs to evolve. We need to rethink value creation through biomass valorisation, methane recovery and circular business models that deliver environmental and economic benefits,” he said, highlighting practical examples that have already been piloted and commercialised.
Such examples include converting empty fruit bunches into biofuels and biochemicals as well as capturing methane from palm oil mill effluent for renewable energy technologies.
“These innovations are reducing emissions while creating new revenue streams that can support Malaysia’s shift towards a low-carbon economy,” he noted, stressing the fact that adopting a circular economy method could become into a powerful business strategy.
“Circular thinking that focuses on reuse, reducing waste and cross-sector collaboration enable industries to grow sustainably and profitably,” he continued.
Hong also mentioned that there is also a growing demand for technically skilled professionals who can drive green innovation. From carbon capture to biotech, he said that the industry is in need of leaders who think in systems, embrace lifelong learning and are willing to challenge the status quo.
“Looking ahead, biotechnology and industrial symbiosis are the next big economic disruptors. The future lies in replacing fossil feedstocks with bio-based alternatives and transforming industrial waste into valuable resources, a regenerative economy by design,” Hong added.
