Geneva/Sydney, 14 September – The Australian partner of the World Business Council for Sustainable Development (WBCSD), BCSD Australia, and New South Wales (NSW) Government’s Sustainability Advantage recently completed a unique training program on the Circular Transition Indicators (CTI) framework, with support from WBCSD.
The training program, which was held over three sessions, provided several Australian companies with a deeper understanding of CTI and the online tool, preparing them to implement the methodology into their operations.
The response to the training was positive, with many saying it would add to the growing momentum to incorporate the circular economy model into their approach to sustainable growth.
Clare Gallagher, National Sustainability Manager, Built, said, “The best thing I took away from the CTI training was that we could measure the circularity of our projects or systems and clearly communicate this using the reporting in the tool. The introduction to the software now gives me the confidence to use it and experiment with different scenarios to evaluate our circular initiatives. I see CTI as an immensely useful tool for supporting circular decision-making with such tangible metrics.”
Anastasia Konstantelos, Programs Manager Sustainability and CSR, Konica Minolta Business Solutions Australia, said, “Prior to attending the Circular Transition Indicator course, I had trouble envisaging how companies and economies could move to a circular model. The course helped me understand how to measure and set out a concrete strategy. We were provided with excellent case studies and tools and surrounded by like-minded individuals and companies that all shared a commitment to a regenerative economy.”
WBCSD developed CTI to provide a universal and transparent framework to measure circularity that can be applied to businesses of all industries, sizes, value chain positions and geographies, as the establishment of a common language across industries and governments is critical.
Although the use of common indicators for circularity performance is essential to accelerating the transition to the circular economy, the value of CTI for a company goes beyond the calculation in the guidance, analysis and explanation for how circularity drives company performance. The CTI process helps companies scope and prepare circularity assessments, interpret their results, understand risks and opportunities, prioritize actions and establish SMART targets to monitor progress.
“Australian companies are increasingly adopting the circular economy model into their broader sustainability strategy, including setting ambitious targets,” said Andrew Petersen, CEO of BCSD Australia. “However, it’s important that these companies, as well as governments, are able to accurately and consistently measure their circular performance, which is what the CTI tool allows them to do.”
The training was delivered by WBCSD, KPMG and Circular IQ and was localized in Australia by BCSD Australia and the NSW Government through Sustainability Advantage.
Read the original press release here.