Over the last 40 years, annual extraction of materials has more than tripled. As the population grows and more consumers enter the middle class, the total demand for resources is expected to reach 130 billion tons by 2050, up from 50 billion in 2014. That’s an overuse of the Earth’s total capacity by more than 400%.
To transition from a linear to a circular economy, local and national governments need to create a regulatory environment that effectively promotes and accelerates circular activities in the private sector.
Policies to promote a circular economy are diverse and emerging quickly. Navigating this new landscape as a global company can be difficult. Furthermore, circular economy policies are complex – spanning issues such as waste, design, procurement, secondary use, plastics, ocean debris, recycling, waste management –among others. There is a need for a unifying, multi-sector, international business voice to provide constructive guidance to the public sector on policy-setting to accelerate the circular economy.
Businesses face numerous challenges in implementing the circular economy. A policy that enables linear behavior or inhibits circular activities does not need to be one of them. In establishing one, collective business voice, we aim to partner with public authorities in developing policies that drive value creation through the circular economy.
We will understand the emerging policy space and develop forward-looking policy recommendations from a cross-sectoral group of global business to help drive forward the circular economy.