With 95% of all manufactured products & materials relying on chemicals processes, the industry is in a unique position to catalyze the transition to a circular economy. Yet, today the chemical industry operates predominately in the linear economy. While to date, six out of nine planetary boundaries transgressed and 90% of global nature loss is linked with resource extraction, there is an urgent need to decouple resource consumption from value creation. This requires a transformation allowing companies in all value chains to harness the power of chemistry for their circular transition.
In this context, effectively and consistently measuring circularity is essential.
This report aims at harmonizing practices in the Chemical Industry and disseminates best practices. It leverages the Circular Transition Indicators v4.0 as a universal language of circular performance and accountability, and focuses on material circularity as the foundation for circular performance measurement. The report is an outcome of a collaboration with leading companies of WBCSD Circular Chemicals Group and provides guidance to apply CTI considering the unique challenges of the chemical industry. This report is directed to all stakeholders in the chemical industry and chemically intensive value chains to support the development and implementation of the building blocks for a Circular Economy by measuring the impact of their circular strategies.
It has been designed to provide them with:
- Guidance on measuring circularity for chemicals
- A common approach to consider for emerging technologies in circular metrics
- Emerging and best practices to foster development of circular solutions in the industry
- Insights to common industry challenges.
Does your business rely on chemicals, and are you looking to catalyze your company's transformation through circular strategies? Download the CTI Guidance for the chemical industry.