The South Asia region, home to a quarter of the world’s middle-class consumers, has experienced a long period of robust economic growth, averaging 6 per cent over the past 20 years. Post the economic disruption caused by the impact of COVID 19, the region is expected to experience an economic rebound. According to a World Bank report, the region is set to regain its historical growth rate by 2022 as growth is set to increase by 7.2 percent in 2021 and 4.4 percent in 2022. The sub-region is also expected to reach its population peak by 2030, which when paired with increases in production and household consumption (due to increasing prosperity) will also place increased pressure on the environment.
The COVID 19 pandemic has reaffirmed that human societies need a business model that allows for wealth generation along with regeneration of our natural and social capital. This report “SCP – A Stocktaking of Perspectives and Practices in South Asian Countries” is a timely publication that identifies the challenges faced by businesses and the enabling environment and tools needed by South Asian companies to ensure that they can mainstream sustainability and promote SCP through their business practices. The report will serve as a good reference document for both businesses and governments alike to prioritise actions for making a shift towards resource efficiency and SCP.
