Sustainability gaining traction in Asia, impacting consumer choices
Siew Jin Kiat, the Regional Managing Director of Epson Southeast Asia, discussed the company's supply chain disruptions, headwinds, and the catalysts for growth. Despite the macroeconomic factors like interest rates and a decline in consumer spend that have presented some challenges, countries like the Philippines, Indonesia, and China continue to see good demand. Furthermore, the hybrid work model and work from home phenomenon that arose during the COVID-19 pandemic are driving demand for office equipment and home devices, offering good growth opportunities for Epson.
Siew Jin Kiat highlighted Epson's dedication to sustainable development goals and environmental initiatives such as decarbonisation, increasing the amount of recycled materials used in production, and investing in environmental technology. He emphasized the significance of sustainability in Asia, where consumer demand, government regulations, and environmental impact are compelling companies to produce more sustainable options. Epson is focusing on four areas of environmental action: decarbonization, resource conservation, environmental mitigation for end-users, and investments in environmental technology.
Epson's corporate purpose is guided by the philosophy of efficient, compact, and precise innovation to enrich lives and help make a better world. The company is aiming to achieve the minus 1.5 degrees Celsius commitment made at the Paris agreement by 2030 and to be underground resource free by 2050. In conclusion, Epson is committed to providing eco-innovations to a wider audience and taking action to create a sustainable future. Despite macroeconomic challenges, the company is optimistic about the future, and the growth countries in Southeast Asia provide good demand for its products. Epson's philosophy of innovation and dedication to environmental sustainability offers hope for a better and sustainable future.
To know more, watch the full interview.
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