Peter Lai, the founder and CEO of Majestic Corporation, has been making waves in the recycling industry since establishing the company in 2018. Listed on the Aquis Exchange in 2022 under the ticker symbol MCJ, Majestic specializes in sustainable circular economy solutions, particularly focusing on recycling metals from electronic waste. The company extracts valuable materials such as gold, copper, and platinum from computer circuit boards, electronic goods, and industrial waste [0cdb14ec].
In 2022, McKinsey & Co predicted that the recycling of waste electrical and electronic equipment (WEEE) would grow nearly 30% annually, potentially surpassing $100 billion in Europe by the end of the decade. This growth is underscored by the fact that the UK generated 1.6 million tonnes of WEEE in 2022, making it the second-largest producer per capita [0cdb14ec].
To strengthen its position in the UK recycling market, Majestic recently acquired Telecycle. This strategic move is expected to enhance the company's capabilities in recycling processes and provide direct insights into supplier needs, thereby optimizing circular solutions [0cdb14ec].
Kenny Lam Kan-kei, another entrepreneur in the recycling sector in Hong Kong, echoes similar sentiments about the importance of recycling. He founded Love Recycling Plus to improve recycling practices in his city, emphasizing education and transparency to build public trust [cdd40981]. Lam's initiatives align with broader sustainability efforts in Hong Kong, which are gaining traction through partnerships aimed at promoting ESG best practices [02f8f22e].
The Financial Secretary of Hong Kong, Paul Chan Mo-po, has introduced initiatives in the 2024-2025 Budget to enhance sustainability reporting among businesses, while the Hong Kong Institute of Certified Public Accountants reported a significant increase in companies adopting external assurance for ESG practices [e57ec7a6].
As both Majestic Corporation in the UK and Love Recycling Plus in Hong Kong work towards sustainable growth through recycling, their efforts highlight a global trend towards circular economies and responsible waste management practices. Together, these initiatives reflect a growing civic-mindedness as individuals and organizations strive for a more sustainable future [0cdb14ec].