U.S Report Highlights Circular Economy Best Practice

circular-economy-best-practiceThe United States Chamber of Commerce Foundation in collaboration with the Ellen MacArthur Foundation has published a study that looks into how the private sector can achieve a circular economy. 

The report, Achieving a Circular Economy: How the Private Sector is Reimagining the Future of Business presents a variety of case studies, best practices and approaches for how companies are leveraging the environmental, economic, and social opportunities the circular economy provides—how they are doing it profitably.

“A shift toward the circular economy could generate, by 2025, an estimated $1 trillion annually in economic value, create more than 100,000 new jobs, and prevent 100 million tons of waste within the next five years…”

The report is divided into six categories: thought leadership; electronics and information technology services; environmental services; finance; manufacturing; plastics and packaging.

Examples include:

  • HP: Shifting from selling products to delivering higher-value services, such as its Managed Print Services and ink-subscription service, as well as its first-of-its-kind closed-loop print supplies recycling program.
  • Philips: Applying circular economy principles to advance its business models that create value and gain market share, including providing lighting as a service and refurbishing healthcare imaging systems.
  • SunPower: Integrating circular thinking into product design, manufacturing processes, and business models, such as designing modules for durability and recyclability, and leveraging Cradle-to-Cradle certification.
  • Tetra Pak:Through the lens of renewability, leveraging circular economy principles to guide best practices around sourcing and use of raw materials at the beginning of a package’s lifecycle.
  • In addition, we are pleased to feature the work and thought leadership of other organisations making important contributions and advancements to the circular economy approach, including Accenture, Arizona State University, City of Phoenix, and the Closed Loop Fund.

Jennifer Gerholdt, director, environment programme at the U.S Chamber of Commerce Foundation said: “A shift toward the circular economy could generate, by 2025, an estimated $1 trillion annually in economic value, create more than 100,000 new jobs, and prevent 100 million tons of waste within the next five years, while restoring the natural capital and ecosystem services that are the foundation of healthy ocieties and economies globally. The examples in this report illustrate how it can be done.”

Two webinars be hosted to discuss several of the circular economy strategies featured in the report more in depth.

The U.S Chamber of Commerce Foundation conducts research and produces events on issues facing business now and in the future. Through its initiatives, the Foundation builds skills, drives innovation, and encourages growth.

The Ellen MacArthur Foundation was established in 2010 with the aim of accelerating the transition to the circular economy. Since its creation the charity has emerged as a global thought leader, establishing circular economy on the agenda of decision makers across business, government and academia.

Most recently the Ellen MacArthur Foundation announced Google and H&M among its global partners.

For the full report CLICK HERE

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