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RIYADH: The world’s economy is shifting towards a state in which sustainability and circularity will no longer be considered optional extras but the baseline for how we operate, experts said at the Misk Global Forum in Riyadh on Tuesday.

During a panel discussion titled “A Circular Revolution,” the participants explored ways in which waste materials can be reused or recycled to help achieve a circular economy that is beneficial to the environment while also generating profits.

“Waste is the gold of the 21st century,” said Moemen Sobh, the Egyptian founder and CEO of Visenleer, described as the first initiative of its kind in the Middle East and North Africa region, which transforms fish and ocean waste into sustainable textiles.

Noting that the fashion industry produces more greenhouse gas emissions than the oil and gas industries, he added: “By 2030, 50 percent of the gas emissions will be because of fashion.” Meanwhile, Egypt has a water deficit of 7 billion cubic meters a year and could run out of the vital resource as soon as 2025, UNICEF warned in 2021.

Sobh said his passion for finding sustainable solutions to these problem stems from his heritage as part of a northern Egyptian family descended from a long line of fishermen. So he decided to launch an initiative that buys fish waste that was being collected in plastic bags and dumped into freshwater sources, and instead use it to produce a more environmentally friendly alternative to animal and faux leather.

Through Visenleer, Sobh created the first sustainable fashion line in the region that uses only ocean waste to create its materials. He said the traditional tanning process for leather generates 90 percent of the greenhouse gas emissions produced by the fashion industry, so it was important for him to develop an alternative process that uses only glycerin, water and sunlight.

Electronic waste is another major environmental issue, and Alex Mativo, co-founder and CEO of Duck Analytics, spoke about the ways in which old devices can be transformed into products such as jewelry and fashion accessories.

He said he learned early on in his career that the circular economy means “turning something that is obsolete into something really beautiful.”

Mativo, who has been featured on the Forbes 30 Under 30 list, added that Duck Analytics uses data and artificial intelligence to help make the supply chains of global companies, such as Coca Cola and Red Bull, more efficient.

A circular economy, which is one based on the reuse and regeneration of materials or products, is beneficial both for businesses and the planet because it helps to reduce waste and generate profit, he said.

Louise Mabulo is the founder of the Cacao Project, an initiative that helps farmers build sustainable, resilient livelihoods through agroforestry, which involves the integration of trees and shrubs into crop and animal farming systems to create environmental, economic and social benefits for farmers and communities.

“Food systems account for 30 percent of global greenhouse gas emissions,” she said. The Cacao Project has worked with more than 200 farmers to plant almost 200,000 trees and regenerate more than 370 acres of land, she added. And that is not all.

“All of these farmers are being upskilled into businessmen and they are using agricultural waste; they are using cacao pods to make chocolate products and using that to create an income but also create economic benefits for themselves and for their communities, to protect them against storms and to provide better food,” Mabulo said.

As young innovators seek to develop sustainable solutions to environmental challenges, she said that “sometimes looking into the future requires looking back into the past.”

Rather than focusing only on new technologies, Mabulo added, knowledge of many solutions that can help solve the world’s problems already exists within communities.

“The key lies in unlocking them and finding innovative ways to marry ancestral knowledge or the resources we have with science, with facts, being able to communicate it well, and being able to talk to the communities in a language that they understand, and serve that gap.”

RIYADH: “If you don’t channel your passion for executing a business, then you simply have a hobby,” Essa Behbehani said at the Misk Global Forum on Tuesday.

The CEO of Prepline, a food and beverage investment and development company, made the statement during the panel discussion “Dream, Do, Dare: The Entrepreneur’s Cookbook,” which discussed core business skills, provided guidance on overcoming common startup challenges, and offered essential advice on scaling enterprises through funding.

“Passion is one of the main elements you need to build a business on, but it is not the main element,” Behbehani said.

He outlined the four key roles in business success, saying: “You are either an investor, manager, developer, or craftsman. Each one needs the other element to succeed.”

Reflecting on the evolution of business fundamentals over two decades, Behbehani noted a significant shift, and added: “Back then, (around) 2003 to 2004, the most important elements in a business were the product, resistance, and community approval.”

Behbehani noted that at that time, entrepreneurs like himself lacked marketing knowledge and did not have modern tools like social media to promote their businesses.

However, today’s business landscape demands different priorities, and he said: “These skill sets that you have need to be transferred into three main elements: You need to have a mindset, speed, and quality of product.

“Mindset nowadays is everything — without a mindset, you can never grow a business.”

He cautioned current entrepreneurs about the limitations of focusing solely on product excellence, asking: “What are you going to do with an amazing product without the right mindset and the right speed to execute it?”

During the same session, Abdullah Al-Saleem, the CEO and co-founder of Mushtari, a platform for business acquisition, shared valuable insights on when and how entrepreneurs should seek guidance for their ventures.

“Every time is the right time to seek help,” Al-Saleem said, highlighting the importance of continuous learning and consultation in business development.

He advocated for a two-pronged approach to seeking advice, distinguishing between general business consultants and industry-specific experts.

He added: “There are two people you have to seek help from: People that know generally about the industry, and people that know specifically about the industry.”

Using the restaurant business as an example, Al-Saleem described how he would consult general business experts for fundamentals like “hiring, culture, (and) cash flow,” while seeking industry-specific guidance for specialized operations.

However, gathering advice, he said, was just the first step. He noted that it was crucial to ensure team involvement in implementing recommendations.

He said: “When I take all these ideas or all these bits of advice, I brainstorm it with the team.”

This collaborative approach ensured that potential solutions were thoroughly evaluated before implementation, he said.

Al-Saleem further emphasized the importance of practical application through trial and error, and he always involved his team in the process.

He added: “They are the engine of the business and without the team, there is no business.”