The environmental impacts of today’s “take, make, waste” or “linear” economy are dramatic and extensive. Resource extraction has tripled since 1970 and it is projected to grow by another 70% by 2050, with the impacts of climate change, biodiversity loss and pollution being felt all around the world.
In the meanwhile, today’s global economy is only 8.6% circular. A rapid shift to a more circular economy, could dramatically cut resource use, and coupled with decarbonization, can deliver a low carbon and lower environmental impact future.
Moving to a more circular approach also represents a huge opportunity for businesses, opening doors to new markets and the opportunity of increasing market share; reducing costs and risks for business; driving innovation, attracting talent and aligning business performance with public expectations. To do this, businesses can use a value-chain approach to prioritize where they should take action to have the biggest impact on greenhouse gas emissions, biodiversity loss and pollution while making ‘transformational sprints’ towards circularity.
Successful businesses of the future will be ones that deliver excellent value with minimum resource use and environmental impacts while moving rapidly toward nature-positive solutions and net zero carbon emissions. Applying circularity principles can help businesses deliver a rapid and successful shift towards these crucial priorities for humanity and the planet.
