Life Cycle Analysis
Life cycle analysis is a method used to determine, report and mange the environmental impact of a product or service based on scientific data. This analysis is of major significance to the sustainable growth of industry and the increase of international competitiveness; so much so that in recent years, we have noted the greater role played by life cycle analysis in the decision-making processes of our companies, chiefly those in textile and chemical industries.
We observed this phenomenon a short while ago as well. We announced the winners of "14th Environment and Energy Awards" in December. We have seen how companies, in line with an increased level of environmental awareness, have started to consider deeper the global environmental impact of products they are developing.
I would like to hereby draw your attention to a critical issue at this juncture: We shouldn't consider life cycle analysis only as a tool that evaluates effects on the environment. Life cycle analysis is a method that would actually help measure economic parameters during the manufacturing process, which in turn would yield commercial benefits.
In other words, life cycle analysis focuses on manufacturing stages which create a heavy environmental impact. This would be conducive to optimal consumption of resources and improvements in the manufacturing process which would in turn not only reduce environmental consequences but create competitive advantage by reducing costs. So, life cycle analysis is both eco-friendly, industrialist friendly and consumer friendly. We have always laid emphasis on assuming pioneering duties in life cycle analysis and we will continue to do so...
I wish you a New Year full of health and peace...
Istanbul Chamber of Industry
Chairman of the Board