Highlights
Corporates and Startups driving innovation in Circular Economy
Corporates and Startups driving innovation in Circular Economy
Intro
The circular economy is fast emerging globally, as companies and governments increasingly recognize its potential to tackle the root causes of climate change and other global challenges while generating new and better growth opportunities. As a solution that can scale fast, its relevance has only become more apparent in recent discussions about economic renewal.
Over the past two years, climate change and other environmental, social, and governance (ESG) issues have become key boardroom topics for asset managers, banks, and other financial services firms.
The circular economy can help meet global climate targets by transforming the way we produce and use goods. Moving towards a more circular economy could deliver benefits such as reducing pressure on the environment, improving the security of the supply of raw materials, increasing competitiveness, stimulating innovation, boosting economic growth (an additional 0.5% of gross domestic product), creating jobs (700,000 jobs in the EU alone by 2030). Consumers will also be provided with more durable and innovative products that will increase the quality of life and save them money in the long term.
An issue for everyone's attention
The Circular Economy concept has taken increased attention in the last years, but what does this concept mean? There are many schools and institutions that have already tackled this concept. For example:
- According to the Ellen MacArthur Foundation, Circular Economy is an economic system aimed to redefine the linear traditional industrial model (take-make-waste) into a circular system that builds long-term resilience.
- For the European Parliament, CE is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products as long as possible.
- The UN considers the CE as a new way of creating value, and ultimately prosperity, through extending product lifespan and relocating the waste from the end of the supply chain to the beginning.
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