Circularity poses opportunity to relieve planetary pressures progress to climate goals, and create thriving societies.
THE GLOBAL STATUS
Global virgin material extraction is outpacing population growth. In fact, it is growing at nearly twice the rate, and as our population reaches unprecedented levels, we already exceeding the point where the planet simply can’t keep up with demand.
Relieving this overshoot of planetary boundaries requires a critical rebalance of global supply and demand. Although still a largely untapped opportunity, many leaders have identified circular practices as a powerful contributor to the solution. The potential? Embedding circularity can reduce virgin material extraction by up to 30%, bringing us back into a more sustainable balance, and importantly, as this is done through more effective use of resources, rather than just less use, our population will be left in a position where needs are still fulfilled.
To achieve this, we need more organisations to embrace the challenge of circular innovation. As with any transformation there is potential for market differentiation, product innovation, supply chain efficiency and cost efficiencies. However, this also requires a fundamental transformation of economic activities, only achievable with collaboration across private sector, public sector and society. The biggest opportunity for the private sector to lead change is within:
How can you play a role in this revolution?
We can transform how materials satisfy our needs by using less, using longer, using again, and using regenerative resources.Find out how to accelerate circularity in four high impact value chains below.