Global push to invigorate the circular economy
The World Business Council for Sustainable Development (WBCSD) has launched a new program, Factor10, which aims to integrate the circular economy principles of life-cycle thinking and resource optimization into business models.
The program, with signatories from over 30 international companies together worth around USD $1.3 trillion, aims to ‘reinvent the way that business produces, uses and disposes of the materials that make up global trade, by moving away from the traditional “take-make-dispose” economic model to one that is regenerative by design.’
WBCSD has released a number of practical guides, business cases and scalable solutions for implementing the circular economy. The most recent of these was “The new big circle: How circular economy is already disrupting business models,” released in collaboration with The Boston Consulting Group at the World Economic Forum in Davos .
The guide draws from research, survey responses and interviews with individuals who have first-hand experience integrating the circular mindset.
Highlights include:
10 recommendations for implementing the circular economy
Over a dozen new case examples written for middle managers
A new process for thinking about circular innovation within business
Recommendations to take human capital into account
Empowering and educating employees
The guide also includes compelling business reasoning behind circularity. For example, 96% of practitioners surveyed for the publication believe that the circular economy is important to their company’s future success. An even higher percentage (97%) indicated that the circular economy drives innovation to help make the company more efficient and competitive.
More information is here