Global Resources Outlook (GRO) 2024: Implications for Business


10 July, 2024



During the sixth United Nations Environment Assembly (UNEA6) on March 1st, the International Resource Panel’s flagship report, the Global Resources Outlook 2024 (GRO) was revealed, highlighting the alarming rise in material extraction over the past 50 years, fueling the triple planetary crisis. 

As natural resource demand surges, businesses face a critical imperative to optimize resource productivity and resilience. Embracing sustainable resource management and circular economy principles offers a pathway to decarbonization, nature protection, and just transitions, presenting significant opportunities for businesses to shape future-proof models and alliances. 

Businesses have a critical role in ‘bending the trend’ and shifting markets towards more effective ways of using resources. This business brief, written in collaboration with WBCSD and Systemiq summarizes the key messages of the GRO, distils the implications for business and then outlines how business can act which are summarized as the following:  

→ Integrate decoupling into your business strategy.  

→ Adopt circular economy models: Focus on reuse, repair, and material efficiency.  

→ Invest in renewable resources and regenerative practices.  

→ Improve supply chain transparency and optimize resource management.  

→ Conduct resource efficiency audits and implement cost-effective retrofits.  

→ Engage with policymakers: Advocate for policies that incentivize sustainable resource use.