Why the circular economy is a business imperative
Why the circular economy is a business imperative The European Sting
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This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.
Author: Henrik Hvid Jensen, Chief Technology Strategist NEE, DXC Technology
The Circular Economy in Action: 9 Examples of Businesses and Policy Makers Accelerating the Transition
The circular economy is a paradigm shift in how we do business, focusing on minimizing waste and maximizing resource efficiency. Born-circular companies are leading the way, while born-linear companies must pivot to survive. The circular economy is not just an option; it’s an imperative for both business and planetary survival.
- The circular economy is a transformative approach that goes beyond incremental changes in waste reduction and recycling.
- In a traditional, linear economy, products are discarded once they reach the end of their useful life, perpetuating a cycle that depletes Earth’s finite resources and produces waste.
- A competitive circular economy adopts a closed-loop system where nothing is wasted, focusing on design for longevity, extending product use, and recycling and regeneration.
The circular economy is more than just a buzzword; it’s a paradigm shift in how we operate and interact with our world. It’s not merely the future of sustainable economic development; it’s a powerful business strategy that can drive innovation, resilience, and ultimately, long-term success.
The Showdown of the Century: Born-Circular vs. Born-Linear Companies
Born-circular companies are the architects of the circular economy, dictating the pace and nature of the transition. They are designed to minimize waste and maximize resource efficiency, setting industry standards and influencing consumer behavior.
Born-linear companies, still entrenched in the “take, make, dispose” mindset, face the choice of adapting or becoming obsolete. The challenge for them is not just about adopting new technologies or processes; it’s about a fundamental shift in business philosophy.
Time to Join the Circular Revolution
Standing still is moving backwards. Embracing the circular economy is not just about business survival; it’s about planetary survival. Companies embracing circularity have the opportunity to revolutionize industries and become heroes of a world in need.
The circular economy is not an option; it’s an imperative. And the time to act is not tomorrow; it’s today.
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 12: Responsible Consumption and Production
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 13: Climate Action
The article discusses the circular economy, which is closely linked to responsible consumption and production (SDG 12). It also mentions the need for innovation and infrastructure to drive the transition to a circular economy (SDG 9). Additionally, the circular economy is recognized as a strategy to address climate change and promote climate action (SDG 13).
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.
- Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
- Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning.
The article emphasizes the need for sustainable management and efficient use of natural resources (Target 12.2) in the circular economy. It also highlights the importance of upgrading infrastructure and retrofitting industries to make them sustainable (Target 9.4). Furthermore, it mentions the need for education and awareness-raising on climate change (Target 13.3).
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP.
- Indicator 9.4.1: CO2 emissions per unit of value added.
- Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula.
The article does not explicitly mention indicators, but it implies the need to measure the material footprint (Indicator 12.2.1) as a way to assess the efficient use of natural resources in the circular economy. It also suggests measuring CO2 emissions per unit of value added (Indicator 9.4.1) to evaluate the sustainability of industries. Additionally, it highlights the importance of integrating climate change education into curricula (Indicator 13.3.1) to enhance awareness and capacity.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 12: Responsible Consumption and Production | Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources. | Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP. |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes. | Indicator 9.4.1: CO2 emissions per unit of value added. |
| Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning. | Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula. | |
| SDG 13: Climate Action | Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning. | Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: europeansting.com
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