Through her leadership and innovative strategies, Cynthia has been instrumental in positioning both DSG and the broader ASEAN region as leaders in the drive for sustainability. In this interview, she shares her expertise on leveraging circular economy principles, fostering innovation in climate technologies, and aligning financial returns with environmental and social impact.

How has DSG leveraged its circular value chain to drive sustainable practices in the paper and corrugated carton industry?

At DSG, sustainability is the cornerstone of everything we do. A key example is our transformation of the waste division into a standalone entity, Daur Ulang Selaras (DUS). This spin-off company integrates reverse logistics into our core operations, allowing us to optimize the lifecycle of materials. Our trucks, which originally only delivered packaging, now also return waste to our facilities, minimizing fuel consumption and lowering transportation costs. This dual-purpose system not only reduces our carbon footprint but has also driven significant efficiencies across the value chain. Within just a few years, DUS has proven to be a profitable venture, demonstrating that sustainable practices can align perfectly with financial success. This initiative exemplifies how businesses can profit from circular economy models while advancing environmental goals.

Your passion for the circular economy and zero-waste movement is evident. How do you integrate these principles into DSG’s operational and investment strategies?

For us, circular economy principles are more than just a philosophy—they are integral to our operational strategy. We focus on turning waste into valuable resources, and we continually seek opportunities to close the loop within our supply chain.

One of our key initiatives involves collaborating with local waste collectors to provide them with the necessary resources—such as technology, logistics support, and capital—to scale their operations. This collaboration not only strengthens our supply chain but also helps formalize the informal waste sector, which is a significant contributor to the economy in Indonesia.

From an investment perspective, we prioritize opportunities that align with our sustainability goals. Whether it’s funding circular innovations or supporting businesses with sustainable practices, we ensure that our capital works for both profit and purpose.

DSG has collaborated with recycling startups and the Indonesian Packaging Recovery Organization. How important is cross-sector collaboration in accelerating sustainable investment initiatives?

Cross-sector collaboration is absolutely crucial in accelerating sustainable investments. Sustainability challenges are complex and multifaceted, and no single sector can solve them alone. By working together with startups, industry groups, and even competitors, we can pool resources, share knowledge, and implement scalable solutions.

Our partnerships with recycling startups and organizations like the Indonesian Packaging Recovery Organization have enabled us to innovate quickly and address the region’s waste and recycling challenges. These collaborations have also helped create a more supportive ecosystem for sustainable businesses, and together, we are driving the broader agenda for circularity and environmental impact.

As the founder of Eco Selaras, how do you envision platforms like Eco Selaras fostering innovation in climate technologies?

ECO-S was created with the vision of bridging the gap between innovators, investors, and businesses that can bring their solutions to market. We provide a platform where climate-tech startups can access critical resources such as funding, mentorship, and pilot opportunities.

Our goal is to accelerate the deployment of climate technologies across ASEAN by providing entrepreneurs with the tools they need to scale their solutions. This will ultimately contribute to the region’s transition to a low-carbon economy. We also work closely with businesses to help them adopt these technologies and integrate them into their operations.

Through ECO-S, we’re not just fostering innovation—we’re fostering a movement that supports the adoption of climate technologies and creates new business opportunities in sustainability.

How does DSG evaluate and incorporate climate risk into its decision-making process and long-term investment plans?

At DSG, we take a proactive approach to climate risk, recognizing that it is both a potential threat and an opportunity for innovation. We assess climate risk across a range of factors, from regulatory changes and physical climate impacts to shifts in market dynamics and consumer behaviour.

We integrate climate risk assessments into every stage of our decision-making process, ensuring that our investments and operations are resilient in the face of climate challenges. For example, we prioritize sustainable supply chain practices and invest in renewable energy technologies that mitigate risks related to fossil fuel reliance.

This forward-thinking approach not only safeguards our business but also ensures that we are well-positioned to thrive as the market increasingly demands sustainable solutions.

With your academic background in circular economy and sustainability from Cambridge, how do you translate theoretical knowledge into actionable ESG practices at DSG?

My academic experience at Cambridge provided invaluable insights into the frameworks and strategies for integrating sustainability into business practices. However, translating theory into practice requires a deep understanding of local conditions, market dynamics, and operational constraints.

At DSG, we’ve taken these academic concepts and tailored them to our business model. For instance, the launch of DUS was inspired by the circular economy principles I studied, but we adapted them to meet the specific needs of the paper and corrugated carton industry in Indonesia. By aligning academic knowledge with our operational realities, we’ve successfully implemented effective ESG practices that drive both environmental impact and business growth.

ASEAN businesses and family offices play a unique role in sustainability. What opportunities do you see for them in driving regional transformation?

ASEAN businesses, especially family-owned companies, are in a unique position to drive sustainable transformation in the region. They have the flexibility to make long-term investments and can implement changes in both business operations and investment strategies.

Family offices are particularly well-placed to invest in climate technologies while using their operational businesses as testing grounds for these solutions. However, it is essential that these solutions are localized. What works in the West may not always be applicable in Southeast Asia due to differences in culture, infrastructure, and environmental conditions.

By empowering local entrepreneurs and fostering regional collaboration, ASEAN businesses can play a pivotal role in shaping a sustainable future for the region. The key is to create solutions that are tailored to local needs while remaining scalable and impactful.

Can you share an example of how DSG has aligned financial returns with environmental and social impact?

A standout example of this alignment is our Daur Ulang Selaras (DUS) initiative. DUS, which was spun off from our waste division, is both a profitable business and a catalyst for environmental and social change. Not only has DUS created new revenue streams by leveraging DSG’s infrastructure, but it has also fostered positive environmental outcomes, such as reducing waste and minimizing carbon emissions. On the social side, we work closely with over 300 waste collectors, providing them with access to capital, technology, and logistics support. These partnerships help uplift communities and formalize the informal waste sector, which is an important part of Indonesia’s economy.

The success of DUS demonstrates how sustainability initiatives can create value across multiple dimensions—financial, environmental, and social—while aligning with broader business goals.

Conclusion: A Vision for Sustainable Leadership in ASEAN

Cynthia’s work at DSG and ECO-S showcases the immense potential of integrating sustainability into business models. Her approach to the circular economy, climate-tech innovation, and cross-sector collaboration offers a roadmap for ASEAN businesses aiming to lead in the global sustainability movement.

As Cynthia aptly concludes:

“Sustainability is an investment, not just in financial returns but in creating long-term value that benefits society and the environment. The businesses that act now will not only ensure their survival but will also lead the way toward a more sustainable future.”

With leaders like Cynthia at the helm, ASEAN is poised to become a hub for sustainable business practices and innovation, driving the region’s transition to a low-carbon, circular economy.

Call to Action

For more information about Daya Selaras Group's sustainability initiatives, visit their official website: Daya Selaras Group.

Looking to explore more sustainability-focused events in 2025? Check out Connect Group's upcoming events here: Connect Group Events 2025.

From Circular Value Chains to Climate-Tech Hubs: Cynthia Wijaya on Driving ASEAN’s Sustainable Business Transformation

Charting the Future: Richard Tao on Family Office Evolution and Leadership

Leading the Future of Impact Investing: A Conversation with Dimple Sahni