As economies across the world expand and demand for resource intensive products and services grows, this creates ever-increasing pressure on and competition for the raw materials and commodities we need to support our modern lifestyles.
Clearly, business as usual is neither economically nor environmentally sustainable. So leading companies are looking at how they can secure long term, sustainable sources of the raw materials they need. Even more fundamentally, they are re-examining their approach to delivering products and services in a way that will reduce the impact of resource competition and scarcity on their business. This is allowing them to take a lead at tapping into €250-500 billion opportunity that’s expected to be available by 2025.
Enter the Circular Economy. The Ellen MacArthur Foundation describes this as ‘an economy that’s restorative and regenerative by design’. Within a circular economy practitioners work tirelessly to keep products, components and materials at their highest utility and value at all times. The ultimate aim is to eliminate the concept of waste entirely.
The framework set out in this guide aims to help more companies to engage in circular economy thinking, setting out the questions that businesses will need to ask themselves to make progress and providing examples of good practice to stimulate ideas. Its aim is to promote debate and dialogue within and between companies operating right across the value chain, from primary producers through to retailers and service sector organisations.
Our hope is it will give you the confidence that you need to take your company on towards realising the opportunities outlined in Fortune Favours the Brave.