A new model called BCG has been conceptualized to underpin Thailand 4.0 policy as a strategy to drive the economic and social development. BCG is an integration of bioeconomy, circular economy and green economy,
- Bioeconomy involves the production of renewable biological resources and the conversion of these resources into value added products
- Circular economy aims at reusing and recycling resources
- Green economy determines to keep economy, society and the environment in balance, leading to sustainable development.
- It is believed that BCG model will enable Sustainable Development Goals (SCGs) through the promotion of sustainable agriculture, clean energy and responsible consumption and production, ensuring the conservation and sustainable utilization of biodiversity, and protecting environment and ecosystem.