The Rizal Commercial Banking Corp. has urged small and medium enterprises to redefine their business models by employing sustainable practices. This will not only save the environment but will also make it more affordable for consumers to patronize sustainable products.
While pricing remains a challenge, there has been improvement, especially in the power sector wherein more industry players are now investing in renewable energy , such as solar, wind, and hydro. Bascon said that a circular economy is being regenerative and restorative by intention and design. The value chain under such a feature is that the finished products after consumption by consumers will still have value. For example, electric panels, after consumption, those panels can be recycled. Then there will be sustainable production and consumption.